Steve Boland, chairman out of Shopping at the Lender away from The usa

Steve Boland, chairman out of Shopping at the Lender away from The usa

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 number of monetary choice and services designed to help clients bank confidently and improve their financial lives.

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“Balance Assist is the most recent within the an effective group of clear, easy-to-explore remedies for let our very own readers funds, rescue, purchase and acquire carefully and confidently,” told you D. “People require the benefit to get to monetary freedom and you can balances, and are usually trying effortless, obvious choices and you can suggestions to assist them in the act.”

Bank away from The united states website subscribers increases their financial physical fitness by starting an economy discipline, working to create its credit, and you may boosting its budgeting feel to some extent by this gang of useful options. Put from the organizations award-successful digital streams and knowledgeable financial specialists, which set of secure banking options facilitate satisfy clients’ relaxed financial, savings and you may credit means, and you can includes:

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  • 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 additional equipment 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 than dos mil website subscribers utilize this account, that’s made to help them invest precisely the money it supply. With SafeBalance, there are not any overdraft costs plus the month-to-month repair percentage try waived for qualified college students beneath the age of 24 otherwise readers enrolled in our very own Preferred Perks program. Members helps make payments having good debit credit otherwise electronically whenever enrolled in Zelle ® , mobile or on line financial.
  • Contain the Change ® – Put inside 2005, Contain the Changes is the original program of the kind to help you let website subscribers generate discounts of the immediately depositing spare change from round up debit cards transactions for the a checking account. Now, more than six million subscribers play with Support the Alter. Within the last fifteen years, this choice have helped readers lead more $fifteen million in excess switch to deals accounts.
  • Safeguarded Credit – This simple and you can much easier bank card may help website subscribers present, reinforce or rebuild their credit. Subscribers can use to possess a merchant account that have a safety deposit away from $300. Which have in control credit choices, members can improve their credit history and, through the years, can get qualify getting the cover deposit came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Community Homeownership Partnership, 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 always create several creative methods to let our very own website subscribers get to solid monetary footing,” told you April Schneider, head regarding User and you will Business Things in the Bank regarding The united states. “Choice particularly Equilibrium Help, SafeBalance and you may Shielded Credit help render clients having monetary stability, and will wear them a path to lengthened-identity economic fitness.”

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 Top Money Activities ® , 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 away from The usa is just one of the world’s leading loan providers, helping individual people, smaller than average center-sector companies and enormous organizations which have the full a number of banking, using, asset government or any other monetary and you can chance government products and services. The organization will bring unrivaled comfort in america, serving approximately 66 billion individual and small company members that have around cuatro,3 hundred retail economic facilities, plus around step 3,one hundred thousand credit facilities, dos,600 financial stores having a buyers Financial support Financial Possibilities Advisor and just as much as dos,2 hundred providers centers; as much as 16,900 ATMs; and you can prize-effective digital banking which have everything 39 billion productive users, plus around 30 million cellular profiles. Financial regarding The united states is a major international commander from inside the wide range management, business and you will capital financial and you may change round the a general directory of resource groups, helping organizations, governments, organizations and individuals international. Bank from The united states even offers globe-leading support to help you up to step 3 billion home business houses owing to good room out-of imaginative, easy-to-play with online services. The company suits subscribers as a result of procedures along side Us, the areas and you may everything thirty-five places. Lender off The united states Enterprise stock (NYSE: BAC) try listed on the New york Stock market.

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