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Low Pricing. Plain and Simple

 

Investing with Merrill

No matter how you choose to invest, you can count on affordable pricing and fees that make it easy to do business with us.
 
Online investing & trading
If you want to put your investing ideas into action, online investing and trading is the way to go. You'll have access to a full range of investments, step-by-step guidance, easy-to-use tools and access to award-winning research.Footnote 1

Stocks & ETFs

Unlimited $0 online stock and ETF trades with no trade or balance minimumsFootnote 2
Other fees may applyFootnote asterisk *
$0
Other ways to trade
$29.95
Representative
AssistedFootnote asterisk *
Footnote asterisk * Other fees may apply. Free and $0 means there is no commission charged for these trades. Sales are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs.

Account fees

Annual account fee
$0
Minimum initial investment
$0
Exception: 529 NextGen Direct accountFootnote 6
$25
 
$600
 
Get up to $600 when you invest in a new Merrill Edge Self-Directed account. How to qualify for the $600 offer
 

Additional fees & services

Here's a list of additional fees & services for online investing & trading accounts.

Transfers

Returned ACH debit fee
$30
Full account transfer feeFootnote 7
$49.95
(Not charged in addition to closeout fees)
Partial account transfer fee
No charge
Closeout fee
$49.95
Retirement accounts
$0
Non-retirement accounts
Return deposit
$20
Wire transfer fee
$24.95
Domestic or international

Security transfers and fees

Register & ship (non-government security)Footnote 8
$25
Statement of security ownership (DRS eligible)
$500
physical certificate of security (Non-DRS eligible)
Government security transfer fee
$125
Fund transfer services returns
$10
Bond coupon deposit fee
$5
Security reorganization
$30
Voluntary
$0
Mandatory
Past due exchanges for physical securities
$50

Visa® debit card

Visa debit card
$0
Visa® International transaction fee
2% of the U.S. dollar amount of all transactions occurring outside the U.S. that are submitted to Visa® in a currency other than U.S. dollars
Visa® cash advance fee (non-ATM)
0.25%
of principal
$2.50
minimum
Merrill Edge CMA Access® Visa
No charge
ATM transaction fee
No charge
Non-Bank of America ATMs may charge a fee for using their ATMs

Check writing & bill payment

Canceled check fee
$3
Returned check fee
$30
Stop payment fee
$25
Unlimited check writing
No charge
Checkbook(s)
No charge
Web bill payment
No charge
Returned ACH debit fee
$30
 
 
Enjoy real benefits and rewards on your Merrill investing and Bank of America banking account balances. And as your balances grow, so do your benefits. Learn more about preferred rewards
 

Help when you want it

Turn to us for step-by-step guidance when you have questions or need help getting the most out of Merrill Edge.

Recognized for excellence

Merrill Investment Center has been recognized by J.D. Power by providing "An Outstanding Customer Service Experience" for Phone support for 9 years in a row.Footnote 9
Merrill Edge Self-Directed was awarded #1 for Overall Client Experience (for the second year in a row), #1 for access to Banking and #1 for ESG Investing in the StockBrokers.com 2020 Annual Broker Review.Footnote 10
Kiplinger's Best Online Brokers 2019
Merrill Edge Self‑Directed was ranked #1 for User Experience 2019Footnote 11
Institutional Investor
BofA Merrill Lynch Global Research was ranked #1 in 2019.Footnote 1
Merrill Guided Investing
Select a goal and get an online investment advisory program that combines the best of online investing with professional portfolio management by Merrill investment professionals — all at a low cost. You can work with a licensed advisor or invest online. Either way, you get an investment strategy and professionally managed portfolio built and managed by Merrill investment professionals aligned to your goal, for a low annual program fee.Footnote 12 Learn more about Guided Investing
Merrill Guided
Investing
This investment advisory program combines the best features of online investing with a professionally managed portfolio — all at a low cost.
Merrill Guided Investing
with an advisor
All the benefits of Merrill Guided Investing plus an advisor who will work with you to discuss your priorities, provide advice and guidance and meet with you periodically to review your portfolio with this investment advisory program.

Minimum Investment & Pricing

$5,000
0.45% Annual program fee (other fees may apply)Footnote asterisk *
What it means
If your month-end investing balance is $20,000, next month's fee would be less than $8
As a Bank of America Preferred Rewards member, qualify for a reduced annual program fee — your 0.45% fee could be as low as 0.30%. For example if you have a Merrill Guided Investing account with a month end balance of $20,000, next month's fee would be $5.00 as a Platinum Honors member.Footnote 13
$20,000
0.85% Annual program fee (other fees may apply)Footnote asterisk *
What it means
If your month-end investing balance is $20,000, next month's fee would be less than $15
As a Bank of America Preferred Rewards member, qualify for a reduced annual program fee — your 0.85% fee could be as low as 0.70%. For example if you have a Merrill Guided Investing with an advisor account with a month end balance of $20,000, next month's fee would be $11.64 as a Platinum Honors member.Footnote 13
Please review the applicable Merrill Guided Investing Program Brochure (PDF) or Merrill Guided Investing with Advisor Program Brochure (PDF) for important information including pricing, rebalancing and the details of the investment advisory program. Your recommended investment strategy will be based solely on the information you provide to us for this specific investment goal and is separate from any other advisory program offered with us. If there are multiple owners on this account, the information you provide should reflect the views and circumstances of all owners on the account. If you are the custodian of this account for the benefit of another person, please keep in mind that these assets will be invested for the benefit of the other person. Guided Investing is offered with and without an advisor. Merrill, Merrill Lynch, and/or Merrill Edge investment advisory programs are offered by Merrill Lynch, Pierce, Fenner and Smith Incorporated ("MLPF&S"). MLPF&S and Managed Account Advisors LLC ("MAA") are registered investment advisors. Investment advisor registration does not imply a certain level of skill or training.

Footnote asterisk * Merrill Guided Investing and Merrill Guided Investing with Advisor have an annual program fee of 0.45% and 0.85% respectively, based on the assets held in the account. This fee is charged monthly in advance. In addition to the annual program fee, the expenses of the investments will vary based on the specific funds within each portfolio. Actual fund expenses will vary, please refer to each fund's prospectus. Sales of ETFs are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs and mutual funds. To learn more about pricing, visit our Pricing page.

Additional fees & services

Here's a list of additional fees & services for Merrill Guided Investing accounts.

Transfer fees

  Merrill Guided Investing Merrill Guided Investing
with an advisor
Full account transfer fee
$49.95
(Not charged in addition to
closeout fees)
$95
(Not charged in addition to
closeout fees)
Partial account transfer fee No charge No charge
Closeout fee
$49.95
(Retirement accounts only,
not charged in addition to
transfer fee)
$75
(Retirement accounts only,
not charged in addition to
transfer fee)
Return deposits
$20
$15
Wire transfer fee
$24.95
Domestic or international
$30 (branch)
$15 (online) 
Domestic
$0
International
Return ACH debit fee
N/A
$10
 
 
Enjoy real benefits and rewards on your Merrill investing and Bank of America banking account balances. And as your balances grow, so do your benefits. Learn more about preferred rewards
 

Help when you want it

Turn to us for step-by-step guidance when you have questions or need help getting the most out of Merrill Edge.

Recognized for excellence

J.D. Power award
Merrill Investment Center has been recognized by J.D. Power by providing "An Outstanding Customer Service Experience" for Phone support for 9 years in a row.Footnote 4

Invest with an advisor

Work with a licensed Merrill Financial Solutions Advisor, who can help you pursue your financial goals and plan for what matters most to you. Learn more about working with an advisor

General investing

Annual program feeFootnote asterisk *
0.85%
Minimum initial investment
$20,000
Footnote asterisk * The fee is based on the assets held in the account and is charged monthly in advance. Program fees include portfolio management and trading costs, as well as ongoing support. The annual account fee does not include underlying fees charged by the funds in your portfolio. Each fund in your account charges these expenses to all shareholders. These fees range from approximately 0.07% to 0.70% per year. Please note that this range will fluctuate and can be higher or lower at any point in time. Actual fund expenses could vary; please refer to fund prospectuses. In addition, the SEC charges a small fee to each ETF sales transaction, ranging between $0.01 and $0.03 per $1,000 of principal. Other fees may include transfer, exchange and fund-redemption fees; conditional deferred sales charges; and markups or markdowns. For additional fee details, see the Merrill Edge Advisory Account program brochure (PDF).

Retirement

Annual program feeFootnote asterisk *
0.85%
Minimum initial investment
$20,000
Footnote asterisk * The fee is based on the assets held in the account and is charged monthly in advance. Program fees include portfolio management and trading costs, as well as ongoing support. The annual account fee does not include underlying fees charged by the funds in your portfolio. Each fund in your account charges these expenses to all shareholders. These fees range from approximately 0.07% to 0.70% per year. Please note that this range will fluctuate and can be higher or lower at any point in time. Actual fund expenses could vary; please refer to fund prospectuses. In addition, the SEC charges a small fee to each ETF sales transaction, ranging between $0.01 and $0.03 per $1,000 of principal. Other fees may include transfer, exchange and fund-redemption fees; conditional deferred sales charges; and markups or markdowns. For additional fee details, see the Merrill Edge Advisory Account program brochure (PDF).

College investing

529 NextGen Select annual account fee
$0
Minimum initial investment
$25

Business accounts

Annual program feeFootnote asterisk *
0.85%
Minimum initial investment
$20,000
Footnote asterisk * The fee is based on the assets held in the account and is charged monthly in advance. Program fees include portfolio management and trading costs, as well as ongoing support. The annual account fee does not include underlying fees charged by the funds in your portfolio. Each fund in your account charges these expenses to all shareholders. These fees range from approximately 0.07% to 0.70% per year. Please note that this range will fluctuate and can be higher or lower at any point in time. Actual fund expenses could vary; please refer to fund prospectuses. In addition, the SEC charges a small fee to each ETF sales transaction, ranging between $0.01 and $0.03 per $1,000 of principal. Other fees may include transfer, exchange and fund-redemption fees; conditional deferred sales charges; and markups or markdowns. For additional fee details, see the Merrill Edge Advisory Account program brochure (PDF).
 
$600
 
Get up to $600 when you invest in a new Merrill Edge account. How to qualify for up to $600 with a new account
 

Preferred Rewards

Clients enrolled in Preferred Rewards are eligible for a discount off the annual fee.
Footnote asterisk * Other fees may apply.
Gold
0.05%
fee discountFootnote 
Platinum
0.10%
fee discountFootnote 
Platinum Honors
0.15%
fee discountFootnote 
Footnote  Clients enrolled in Preferred Rewards receive a discount off the Merrill Guided Investing program's annual asset-based fee of 0.45%, and the Merrill Guided Investing with Advisor and Merrill Edge Advisory Account programs' annual asset-based fee of 0.85% for any of their accounts enrolled in the respective advisory programs. Preferred Rewards-enrolled clients receive a discount of 0.05% off of the annual rate for the Gold tier, 0.10% for the Platinum tier, or 0.15% for the Platinum Honors tier based on their Preferred Rewards tier effective at the time the applicable advisory program fee is calculated. Bank of America Private Bank clients will also receive a discount of 0.15% off of the annual rate. It may take up to 30 calendar days for changes to your Preferred Rewards status or tier to be associated with and effective for your accounts in the advisory programs. This fee is charged monthly in advance. In addition to the annual program fee, the expenses of the investments will vary based on the specific funds within each portfolio. Actual fund expenses will vary; please refer to each fund's prospectus. Sales of ETFs are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs and mutual funds. To learn more about pricing, visit our Pricing page.

Preferred Rewards for Wealth Management clients, other than Bank of America Private Bank clients, do not receive the Merrill Guided Investing fee discount.

Footnote asterisk * There is an annual fee of 0.85% based on the assets held in the account. This fee is charged monthly in advance. Other fees may apply. Sales of ETFs are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs and mutual funds. To learn more about Merrill Edge pricing, visit the Merrill Guided Investing Program Brochure (PDF) or Merrill Guided Investing with Advisor Program Brochure (PDF).

Additional fees & services

Here's a list of additional fees & services for accounts invested with an advisor.

Transfer fees

Full account transfer fee (retirement accounts)Footnote 7
$75
Full account transfer fee (non-retirement accounts)Footnote 7
$95
Partial account transfer fee
$0
Closeout fee (retirement accounts only, not charged in addition to transfer fee)
$75
Return deposits
$15
Wire transfer fee
$30 (branch), $15 (online)
Domestic
 
$0
International
Returned ACH debit fee
$10

Check writing & bill payment

Returned check fee
$25
Stop payment fee
$25
 
 
Enjoy real benefits and rewards on your Merrill investing and Bank of America banking account balances. And as your balances grow, so do your benefits. Learn more about preferred rewards
 

Help when you want it

Turn to us for step-by-step guidance when you have questions or need help getting the most out of Merrill Edge.

Recognized for excellence

J.D. Power award
Merrill Investment Center has been recognized by J.D. Power by providing "An Outstanding Customer Service Experience" for Phone support for 9 years in a row.Footnote 4
Footnote 
Institutional Investor magazine announced BofA Global Research as the Top Global Research Firm in 2019 based on surveys held throughout the year. The magazine creates rankings of the top research analysts in a wide variety of specializations, drawn from the choices of portfolio managers and other investment professionals at more than 1,000 firms. BofA Global Research is research produced by BofA Securities, Inc ("BofAS") and/or one or more of its affiliates. BofAS is a registered broker-dealer, Member SIPC popup, and wholly owned subsidiary of Bank of America Corporation. For more information about this award, go to Institutional Investor popup. Rankings and recognition from Institutional Investor are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.
Footnote 
Merrill waives its commissions for all online stock, ETF and option trades placed in a Merrill Edge® Self-Directed brokerage account. Brokerage fees associated with, but not limited to, margin transactions, special stock registration/gifting, account transfer and processing and termination apply. $0 option trades are subject to a $0.65 per-contract fee. Other fees and restrictions may apply. Pricing is subject to change without advance notice.
Equity securities sold through Merrill Edge self-directed investing are subject to stock market fluctuations that occur in response to economic and business developments.

Footnote 3 Mutual Funds: While no-load funds do not assess sales charges, fund shares are subject to management fees and certain other expenses. Redemption fees may also apply. Merrill Lynch receives remuneration from participating fund companies. In addition to receiving dealer concessions and asset-based sales charges and/or services fees in connection with clients' purchasing and holding mutual fund shares, Merrill Lynch and its affiliates provide other services for which they may receive additional compensation from funds or their affiliates. This compensation is generally disclosed in a fund's prospectus which is available from an Investment Center representative and in the Guide to Mutual Fund Investing (PDF). For specific mutual fund family compensation information, please contact the Investment Center.

Fund shares may be redeemed directly with the Fund without payment of the Merrill Lynch Short-Term Redemption fee. Additional transfer fees may apply.

Many Load Funds offer various sales charge discounts or waivers depending on the terms of the prospectus and/or statement of additional information. You should consult a fund's prospectus and/or statement of additional information to determine whether you may qualify for a discount or waiver. Notify an Investment Center representative if you believe you qualify for any of these discounts or waivers. Call the Investment Center at 877.653.4732 for assistance.

Mutual fund share prices fluctuate in accordance with market and economic conditions and it's possible to lose money by investing in mutual funds.

Footnote 4 Fixed Income: Fixed income orders contain order information on Agency Discounts/Notes/Bonds, Certificates of Deposit, Corporate Bonds, Municipal Bonds and Treasury Bond investment vehicles.

Exchange Traded Funds are subject to risks similar to those of stocks. Investment returns may fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost.

A Brokered Certificate of Deposit is different than a bank Certificate of Deposit. It is sold for a bank by a broker while a Certificate of Deposit can be purchased directly from a bank. Brokered CDs may offer higher rates of return, but their value may fluctuate with changing interest rates. Banking products are provided by Bank of America, N.A. and affiliated banks. Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

Footnote 
When you purchase securities, you may pay for the securities in full, or if your account has been established as a margin account with the margin lending program, you may borrow part of the purchase price from Merrill Lynch. If you choose to borrow funds for your purchase, Merrill Lynch's collateral for the loan will be the securities purchased, other assets in your margin account, and your assets in any other accounts at Merrill Lynch. If the securities in your margin account decline in value, so does the value of the collateral supporting your loan, and, as a result, we can take action, such as to issue a margin call and/or sell securities in any of your accounts held with us, in order to maintain the required equity in your account. If your account has a Visa® card and/or checks, you may also create a margin debit if your withdrawals (by Visa card, checks, preauthorized debits, FTS or other transfers) exceed the sum of any available free credit balances plus available money account balances (such as bank deposit balances or money market funds). Please refer to your account documents for more information.

Before opening a margin account, you should carefully review the terms governing margin loans. For Individual Investor Accounts, these terms are contained in the Margin Lending Program Client Agreement. For all other accounts, the terms are in your account agreement and disclosures. It is important that you fully understand the risks involved in using margin. These risks including the following:

  • You can lose more funds than you deposit in the margin account. A decline in the value of securities that are purchased on margin may require you to provide additional funds to us to avoid the forced sale of those securities or other securities in your account(s).
  • We can force the sale of securities in your account(s). If the equity in your account falls below the maintenance margin requirements or Merrill Lynch's higher "house" requirements, we can sell the securities in any of your accounts held by us to cover the margin deficiency. You also will be responsible for any shortfall in the account after such as sale.
  • We can sell your securities without contacting you. Some investors mistakenly believe that they must be contacted for a margin call to be valid, and that securities in their accounts cannot be liquidated to meet the call unless they are contacted first. This is not the case. We will attempt to notify you of margin calls, but we are not required to do so. Even if we have contacted you and provided a specific date by which you can meet a margin call, we can still take necessary steps to protect our financial interests, including immediately selling the securities without notice to you.
  • You are not entitled to choose which securities in your account(s) are liquidated or sold to meet a margin call. Because the securities are collateral for the margin loan, we have the right to decide which security to sell in order to protect our interests.
  • We can increase our "house" maintenance margin requirements at any time and are not required to provide you advance written notice. These changes in our policy may take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause us to liquidate or sell securities in your account(s).
  • You are not entitled to an extension of time on a margin call. While an extension of time to meet margin requirements may be available to you under certain conditions, you do not have a right to the extension.
If you have any questions or concerns about margin and the margin lending program, please contact your Merrill Lynch Financial Advisor or the Merrill Edge Advisory Center.™
Footnote 6 The NextGen Plan is a Section 529 plan administered by the Finance Authority of Maine. Before you invest in the NextGen plan, request a NextGen College Investing Plan Program Description from us and read it carefully. The Program Description contains more complete information, including investment objectives, charges, expenses and risks of investing in the NextGen plan, which you should carefully consider before investing. You also should consider whether your home state or your designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's 529 plan. Section 529 plans are not guaranteed by any state or federal agency. Merrill Lynch, Pierce, Fenner & Smith Incorporated is the program manager, underwriter and distributor.

Footnote 7 The fee is not charged when transferring to another internal account.

Footnote 8 DRS Eligible refers to securities held electronically at transfer agent (Direct Registration System). Non-DRS Eligible security fee is equal to amount charged to Merrill Edge by the Depository Trust & Clearing Corporation.

Footnote 
J.D. Power 2019 Certified Customer Service ProgramSM recognition is based on successful completion of an evaluation and exceeding a customer satisfaction benchmark through a survey of recent servicing interactions. For more information, visit J.D. Power popup. Rankings and recognition from J.D. Power are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement. Participation in this survey was paid for by Merrill.
Footnote 
Merrill Edge Self-Directed was evaluated as one of 15 online brokers in StockBrokers.com 2020 Online Broker Review published on January 21, 2020. StockBrokers.com evaluated brokers using 236 variables across 8 categories. The Best In Class rating recognizes brokers that ranked in the top 5 in that category. Learn more at StockBrokers.com popup. Rankings and recognition from StockBrokers.com are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.
Footnote 
Merrill Edge Self-Directed was ranked 5 out of 10 online brokers by Kiplinger's Personal Finance's "Best Online Brokers," survey August 2019. To be included, firms had to offer online trading of stocks, ETFs, funds and individual bonds. Results based on ratings in the following categories: commissions and fees, investment choices, mobile app, tools, research, advisory services and user experience. Learn more at Kiplinger's Personal Finance popup, August 2019 © 2019 The Kiplinger Washington Editors. Used under License. Merrill provides access to research from BofA Merrill Lynch Global Research, CFRA (powered by S&P Global), Morningstar and others. Rankings and recognition from Kiplinger's are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.
Footnote 12 The Chief Investment Office (CIO) develops the investment strategies for Merrill Guided Investing and Merrill Guided Investing with Advisor, including providing its recommendations of ETFs, mutual funds and related asset allocations. Managed Account Advisors LLC (MAA), Merrill Lynch's affiliate, is the overlay portfolio manager responsible for implementing the Merrill Guided Investing strategies for client accounts, including facilitating the purchase & sale of ETFs in client accounts and updating account asset allocations when the CIO's recommendations change while also implementing any applicable individual client or firm restriction(s).

Footnote 13 Clients enrolled in Preferred Rewards receive a discount off the Merrill Guided Investing program's annual asset-based fee of 0.45%, and the Merrill Guided Investing with an Advisor and Merrill Edge Advisory Account programs' annual asset-based fee of 0.85% for any of their accounts enrolled in the respective advisory programs. Preferred Rewards-enrolled clients receive a discount of 0.05% off of the annual rate for the Gold tier, 0.10% for the Platinum tier, or 0.15% for the Platinum Honors tier based on their Preferred Rewards tier effective at the time the applicable advisory program fee is calculated. Bank of America Private Bank clients will also receive a discount of 0.15% off of the annual rate. It may take up to 30 calendar days for changes to your Preferred Rewards status or tier to be associated with and effective for your accounts in the advisory programs. This fee is charged monthly in advance. In addition to the annual program fee, the expenses of the investments will vary based on the specific funds within each portfolio. Actual fund expenses will vary; please refer to each fund's prospectus. Sales of ETFs are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs and mutual funds. To learn more about pricing, visit our Pricing page.

Preferred Rewards for Wealth Management clients, other than Bank of America Private Bank clients, do not receive the Merrill Guided Investing fee discount.

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