Steve Boland, chairman out of Merchandising in the Lender of The united states
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Bank off America 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 selection of economic selection and services designed to help clients bank confidently and improve their financial lives.
“Harmony Let ‘s the latest when you look at the a powerful group of transparent, easy-to-explore answers to help the subscribers funds, help save, spend and you will acquire meticulously and with confidence,” told you D. “People require the power to get to monetary versatility and balances, consequently they are trying effortless, obvious selection and you may information to help them along the way.”
Financial regarding America members can increase their monetary physical fitness by the setting-up a benefit abuse, trying to create their borrowing from the bank, and improving its budgeting feel simply by this group of of use alternatives. Introduced through the business’s prize-winning electronic streams and you can knowledgeable financial experts, it group of safe banking selection assists fulfill clients’ casual banking, savings and you will credit requires, and comes with:
- 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. To learn more, review these a lot more equipment info 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, more than 2 mil clients utilize this membership, that is built to enable them to invest only the currency it supply. With SafeBalance, there aren’t any overdraft charges and also the monthly maintenance percentage are waived for qualified students underneath the period of 24 otherwise clients subscribed to all of our Common Advantages program. Clients produces money that have an effective debit cards or electronically when enrolled in Zelle ® , mobile or on line financial.
- Contain the Alter ® – Introduced when you look at the 2005, Contain the Alter are the original program of their type so you’re able to let customers create savings from the immediately deposit spare go from game up debit credit purchases towards the a bank account. Today, over six billion subscribers fool around with Keep the Change. Over the past 15 years, this choice has actually assisted subscribers lead more $fifteen billion excessively change to deals account.
- Secure Cards – This simple and much easier bank card will help subscribers present, strengthen or rebuild its borrowing. Readers can apply to own an account having a security put off $three hundred. That have responsible borrowing behavior, subscribers can also be enhance their credit rating and you will, over the years, will get be considered to own its shelter put returned.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Society Homeownership Relationship, 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 to develop multiple innovative solutions to help our very own website subscribers get to good monetary footing,” said April Schneider, head away from Individual and you may Small company Items at Financial out-of America. “Options such as for instance Harmony Help, SafeBalance and Secure Cards assist render website subscribers having monetary stability, and can wear them an approach to prolonged-identity economic health.”
These solutions and services are available through the award-winning Bank of America Mobile Banking app and are supported by Erica, our digital assistant. These solutions are built to encourage good financial habits, as are additional resources available through Most useful Currency Patterns ® , 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
Bank from America is among the world’s leading financial institutions, helping private users, smaller than average middle-business enterprises and enormous enterprises with a full list of financial, paying, investment management and other financial and you may exposure administration services and products. The business provides unmatched benefits in america, serving as much as 66 million individual and you will home business readers with as much as 4,3 hundred merchandising monetary centers, in addition to approximately step 3,one hundred thousand credit facilities, 2,600 financial locations having a consumer Money Monetary Alternatives Coach and you will around 2,two hundred organization facilities; approximately sixteen,900 ATMs; and you may prize-successful electronic financial with just as much as 39 million productive pages, and additionally everything 29 million cellular users. Lender out-of America is actually a global commander when you look at the wealth administration, corporate and you may money banking and you will change across a broad selection of resource groups, offering corporations, governing bodies, organizations and people all over the world. Lender off The usa even offers business-top help so you can approximately step three billion business house thanks to an effective suite off imaginative, easy-to-use on line services. The business provides members thanks to procedures along side United states, the territories and you can up to thirty five places. Bank from The usa Organization stock (NYSE: BAC) are listed on the New york Stock-exchange.