Bank of America, N.A. Member FDIC. Equal Housing Lender
Certain banking and brokerage accounts may be ineligible for real-time money movement, including but not limited to transfers to/from bank IRAs (CD, Money Market), 529s, SafeBalance Banking®
, Credit Cards and transfers from IRAs, Loans (HELOC, LOC, Mortgage) and accounts held in the military bank. Accounts eligible for real-time transfers will be displayed online in the to/from dropdown menu on the transfer screen.
You maintain your Preferred Rewards status if you have an active, eligible Bank of America personal checking account and maintain a three month average combined balance in your qualifying Bank of America deposit accounts and/or your qualifying Merrill Edge and Merrill Lynch investment accounts of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, or $100,000 for the Platinum Honors tier. SafeBalance Banking accounts do not count towards the account or balance requirements, and do not receive the fee waivers and other benefits of the program. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. For details on Employee qualification requirements, please visit the Employee Banking & Investments website. The Preferred Rewards Gold tier does not include the $0 online equity and ETF trades via Merrill Edge®
, a benefit that is currently available at the Platinum and Platinum Honors tiers of Preferred Rewards. Merrill Lynch Wealth Management clients with greater than $250,000 in assets with Bank of America and Merrill Lynch are eligible for additional banking benefits. Please speak with your Merrill Lynch financial advisor for details.
The Rewards Money Market Savings interest rate booster is only available to customers enrolled in the Preferred Rewards program. Your enrollment in Preferred Rewards will not automatically convert any existing money market savings account to a Rewards Money Market Savings account without your request. If your enrollment in the Preferred Rewards program is discontinued, the interest rate booster may be discontinued. View current Rewards Money Market Savings rates
Enrolled clients with eligible credit cards can receive the Preferred Rewards Bonus in one of two ways: 1) For BankAmericard Cash RewardsTM
credit cards, the Preferred Rewards Bonus will be applied when you redeem cash rewards into a Bank of America®
checking or savings account or an eligible Merrill Lynch Cash Management Account®
. For example, if you redeem $100 in cash rewards, we will add $25, $50 or $75 to your redemption amount, based on your tier when you redeem. Redemptions for a statement credit or personal check will not receive the Preferred Rewards Bonus. 2) For all other eligible credit cards (such as BankAmericard Travel Rewards®
cards), the Preferred Rewards Bonus will be added to the base rewards you earn with each purchase. For example, if you earn 100 base rewards, we will add 25, 50, or 75 bonus rewards, based on your tier when the purchase posts to your account. The Preferred Rewards Bonus will replace the 10% customer bonus you may receive with your card(s). Any other bonus rewards (e.g., account-opening bonuses and merchant-based bonuses) will not receive the Preferred Rewards Bonus. Visit www.bankofamerica.com/preferred-rewards
for a complete list of ineligible cards.
Bank of America, N.A., a wholly owned banking affiliate of Bank of America Corporation (BofA Corp.) and member FDIC, makes available the Health Savings Account as a custodian only.
The mortgage origination fee reduction is available to clients who are enrolled or are eligible to enroll in Preferred Rewards at the time of application for a new purchase or refinance loan (for co-borrowers, at least one applicant must be enrolled or eligible to enroll). Amount of the reduction ($200 for Gold tier, $400 for Platinum tier and $600 for Platinum Honors tier) is based on your eligible tier at the time of mortgage application and is not subject to adjustment. This reduction will not exceed the amount of the Lender Origination Fee. Eligibility will be available three or more business days after the end of the calendar month in which you satisfy the requirements. For details on requirements, read the Preferred Rewards Addendum to the Personal Schedule of Fees (PDF)
. Benefit is non-transferable.
Auto loan preferred interest rate discount of 0.25% to 0.50% is valid only for customers who are enrolled in Preferred Rewards or Banking Rewards for Wealth Management at the time of auto loan application and who obtain a Bank of America auto purchase or refinance loan. The maximum preferred interest rate discount on a Bank of America auto loan is 0.50%. This preferred interest rate discount is not reflected in our published rates at www.bankofamerica.com
but will be reflected in the interest rate quoted upon loan approval. Discounts are only available on new auto loan applications submitted by you to Bank of America and not applications submitted through dealerships. Benefit is non-transferable. Subject to credit approval. Standard underwriting guidelines and credit policies apply.