Steve Boland, chairman out of Retail at the Financial from The usa

03 Jun Steve Boland, chairman out of Retail at the Financial from The usa

Bank out-of The usa today introduced Balance Assist™, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500. Balance Assist is the latest offering in a comprehensive set of economic choices and services designed to help clients bank confidently and improve their financial lives.

“Balance Assist ‘s the newest within the a robust band of transparent, easy-to-fool around with solutions to let our very own clients budget, conserve, spend and obtain meticulously and with confidence,” told you D. “Some body need the benefit to reach economic independence and you may balance, and therefore are trying to easy, clear selection and you can advice to assist them in the act.”

Lender off The united states clients increases its financial fitness because of the setting up a cost savings punishment, trying to make the borrowing, and you may improving its budgeting event simply by this band of useful selection. Delivered from company’s honor-successful electronic streams and you can educated financial experts, which gang of safer financial selection helps meet clients’ casual banking, discounts and you may lending needs, and you will boasts:

These types of selection and you will properties come from the honor-profitable Bank out-of The united states Mobile Financial app and generally are supported by Erica, the electronic assistant

• Balance Assist – With this new short-term, low-cost loan, Bank of America clients can now borrow up to $500 (in increments of $100) for a $5 flat fee regardless of the amount advanced to their account. Repayments would be made in three equal monthly installments over a 90-day period. payday loans Arizona To learn more, review these a lot more unit facts and eligibility criteria. Borrowers must have been a Bank of America checking account client for at least one year. Balance Assist is scheduled to launch in select states by and in remaining states early next year.
• SafeBalance™ – Now, over 2 billion subscribers make use of this account, that’s designed to enable them to purchase just the currency they supply. That have SafeBalance, there aren’t any overdraft charge additionally the monthly repairs percentage is actually waived to have qualified college students underneath the period of twenty four or clients enrolled in all of our Popular Benefits system. Subscribers renders payments with a debit credit otherwise electronically when signed up for Zelle ® , cellular or online banking.
• Support the Changes ® – Lead inside 2005, Secure the Transform was the first program of the form to let members build deals of the automatically deposit free go from game upwards debit card deals for the a savings account. Now, more 6 billion website subscribers have fun with Hold the Transform. During the last 15 years, this method enjoys aided members lead more $15 million in excess change to offers accounts.
• Protected Card – This easy and smoother credit card might help members present, strengthen or reconstruct their borrowing from the bank. Customers can apply for a free account having a safety deposit out-of $300. With in charge borrowing behavior, website subscribers is boost their credit score and you will, over time, may be considered for the cover put came back.
• Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Society Homeownership Union, which has already helped nearly 13,000 low- and moderate-income homebuyers achieve homeownership through low down payment loans and down payment and closing cost grants.

“We continue steadily to make a variety of innovative ways to assist our subscribers reach strong monetary footing,” told you April Schneider, head out of Consumer and you will Business Affairs on Lender off The usa. “Choices such as for example Harmony Help, SafeBalance and you will Secure Card help provide customers which have monetary stability, and can use them a path to lengthened-name monetary fitness.”

These solutions are built to encourage good financial habits, as are additional resources available through Ideal Money Models ® , our free financial education platform that provides a simple, accessible way to connect people to the tools and education they need to help take control of their finances. Since 2013, Better Money Habits content has been viewed more than 120 million times.

Bank of America

Lender regarding America is amongst the planet’s best loan providers, offering personal users, small and center-markets businesses and large agencies with an entire range of banking, purchasing, house management or any other monetary and exposure management services. The organization provides unmatched convenience in the usa, offering up to 66 billion individual and business clients having as much as 4,three hundred merchandising economic facilities, also around step 3,000 credit centers, 2,600 economic centers which have a customers Money Monetary Solutions Advisor and you may around 2,two hundred organization stores; around 16,900 ATMs; and award-profitable electronic banking having as much as 39 billion energetic profiles, together with just as much as 29 million mobile users. Lender off The usa was an international leader inside the money government, business and you may financing financial and you will exchange across a broad list of resource classes, offering organizations, governing bodies, associations and people around the globe. Bank away from The united states offers globe-top support so you can whenever 3 billion business homes courtesy a beneficial package out-of creative, easy-to-have fun with on line services. The company caters to readers courtesy surgery along the All of us, the regions and you can around thirty-five countries. Financial regarding The usa Organization inventory (NYSE: BAC) is actually listed on the Ny Stock market.

For more Bank of America news, including dividend announcements and other important information, visit the Bank away from The usa newsroom and register for information current email address alerts.