Steve Boland, chairman from Merchandising within Bank out of The united states

Steve Boland, chairman from Merchandising within Bank out of The united states

Financial out-of The united states 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 financial choices and services designed to help clients bank confidently and improve their financial lives.

To get more Financial out of America information, together with dividend notices or other important information, go to the

“Balance Let ‘s the most recent from inside the an effective gang of transparent, easy-to-explore approaches to help our readers budget, rescue, purchase and you can obtain cautiously and you may with certainty,” told you D. “People want the benefit to attain economic liberty and you may balance, and are usually trying easy, clear selection and you will recommendations to help them in the act.”

Bank regarding The united states customers increases their monetary fitness by setting up a discount discipline, trying to make their credit, and you may improving its budgeting feel simply by this gang of helpful selection. Brought from the organization’s award-successful digital streams and you can educated fiscal experts, it selection of safer financial possibilities assists fulfill clients’ informal banking, discounts and you can financing needs, and you may boasts:

  • 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 most 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™ – Today, more 2 mil subscribers make use of this membership, which is made to assist them to invest just the money they supply. Having SafeBalance, there are no overdraft charges while the monthly repair payment are waived to own qualified students in period of twenty-four or readers signed up for the Common Benefits program. Subscribers tends to make costs which have a debit cards otherwise digitally when subscribed to Zelle ® , cellular otherwise on the internet banking.
  • Support the Transform ® – Delivered for the 2005, Secure the Changes is the original system of its type so you’re able to let clients create coupons by the instantly depositing spare move from game right up debit card deals towards a savings account. Today, over 6 billion subscribers explore Contain the Transform. Over the last fifteen years, this program possess assisted members direct over $fifteen billion excessively change to discounts levels.
  • Shielded Cards – This easy and you will simpler bank card might help subscribers introduce, bolster or reconstruct their borrowing. Subscribers can use getting an account with a protection deposit from $three hundred. Having responsible borrowing behavior, clients normally boost their credit history and, throughout the years, can get meet the requirements to own their safety deposit came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Community Homeownership Commitment, 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 numerous innovative remedies for help the clients get to strong financial ground,” told you April Schneider, head out of Individual and you will Small company Circumstances at the Lender off The usa. “Options including Equilibrium Assist, SafeBalance and Secure Cards let bring members with financial stability, and will wear them a route to longer-label financial wellness.”

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 readily useful Money Designs ® , 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 The united states is just one of the world’s top loan providers, providing personal consumers, small and center-sector organizations and enormous organizations which have an entire a number of banking, using, investment administration and other monetary and you can chance administration products. The company will bring unmatched convenience in the united states, serving up to 66 billion consumer and you may home business clients which have approximately 4,three hundred merchandising economic stores, as well as up to 3,000 credit centers, 2,600 economic locations with a consumer Financial support Monetary Selection Coach and you can up to 2,two hundred team centers; around 16,900 ATMs; and honor-profitable digital financial that have as much as 39 mil productive profiles, and additionally everything 30 billion mobile users. Lender of The usa are a global frontrunner inside the money government, business and you can capital banking and you will change across an over-all range of resource categories, helping agencies, governments, organizations and folks international. Bank out-of The usa also offers community-leading service so you’re able to up to step three billion small company domiciles by way of good package from creative, easy-to-play with on the web products and services. The company serves subscribers as a result of functions along the You, its regions and you will everything thirty five nations. Financial away from The united states Agency stock (NYSE: BAC) is actually on the Ny Stock exchange.

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