Steve Boland, president out-of Shopping on Financial out-of America
Bank of The usa 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 set of monetary options and services designed to help clients bank confidently and improve their financial lives.
“Balance Assist ‘s the current inside a robust selection of clear, easy-to-have fun with solutions to assist the website subscribers budget, cut, invest and you can obtain meticulously and you may confidently,” said D. “Someone wanted the power to attain economic independence and you can balances, as they are seeking simple, clear options and you will advice to assist them in the act.”
These types of solutions and you may features are available through the honor-winning Bank out of America Mobile Financial application and they are supported by Erica, our digital secretary
Financial regarding The united states customers increases their economic exercise of the establishing a discount punishment, working to generate the borrowing, and you can boosting the budgeting enjoy in part through this group of helpful options. Delivered from the company’s award-effective digital streams and you may educated financial experts, that it set of safer financial alternatives assists see clients’ casual financial, savings and you may credit means, and you will 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 device details 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 dos billion subscribers utilize this membership, that’s built to enable them to purchase just the currency they supply. With SafeBalance, there are no overdraft charge together with monthly restoration commission is actually waived to own eligible people beneath the period of 24 otherwise website subscribers enrolled in our very own Prominent Rewards program. Members renders payments that have a debit card otherwise electronically when signed up for Zelle ® , cellular or on line banking.
- Hold the Alter ® – Put from inside the 2005, Support the Changes try the initial program of their kind in order to let subscribers build coupons by automatically placing spare change from circular right up debit credit deals into the a bank account. Now, over 6 million members fool around with Hold the Transform. Within the last fifteen years, this program have aided customers direct more $fifteen billion excessively switch to offers profile.
- Secure Card – This simple and you will much easier mastercard can help readers introduce, reinforce or rebuild its borrowing. Clients can use for an account with a safety deposit out of $3 hundred. Having in control borrowing from the bank conclusion, customers normally improve their credit score and, throughout the years, get be considered to have the coverage put returned.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Neighborhood Homeownership Union, 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 steadily to produce multiple creative approaches to assist the customers go strong financial footing,” told you April Schneider, head away from User and Business Facts within Financial from The usa. “Alternatives instance Harmony Assist, SafeBalance and you may Safeguarded Card help bring clients that have monetary stability, and certainly will put them on an approach to offered-label monetary fitness.”
These solutions are built to encourage good financial habits, as are additional resources available through Best Money Habits ® , 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
Financial of The united states is amongst the earth’s top loan providers, providing private people, small and center-market organizations and enormous providers that have the full variety of banking, paying, asset management and other financial and you can chance management services and products. The company will bring unmatched benefits in the us, helping everything 66 million individual and you will small business customers with up to cuatro,300 retail financial facilities, as well as everything 3,100 financing facilities, dos,600 economic locations with a customer Resource Monetary Solutions Advisor and around 2,two hundred organization centers; up to 16,900 ATMs; and you may award-profitable digital banking with whenever 39 billion active profiles, and additionally as much as 29 billion mobile pages. Lender of America was a major international chief inside riches management, business and you can investment financial and you may exchange all over a general selection of asset groups, providing companies, governments, organizations and folks globally. Lender from America now offers world-top help to around step three mil business houses due to a beneficial room regarding creative, easy-to-explore on the internet products and services. The organization serves subscribers by way of procedures across the You, its areas and you can up to thirty five countries. Financial out of The united states Agency inventory (NYSE: BAC) are on the Ny Stock exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Lender out of America newsroom and sign up for news current email address alerts.