Steve Boland, president away from Merchandising from the Bank out-of The usa
Bank 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 gang of economic options and services designed to help clients bank confidently and improve their financial lives.
“Equilibrium Help ’s the newest within the a robust number of transparent, easy-to-explore remedies for let the website subscribers funds, cut, purchase and you can borrow meticulously and you can with confidence,” said D. “Individuals require the power to achieve financial versatility and you may balances, and therefore are looking to simple, clear choices and advice to help them in the act.”
These types of options and you may functions arrive through the honor-profitable Lender away from The usa Cellular Banking software and are generally supported by Erica, our very own electronic assistant
Financial regarding The united states readers can increase the monetary exercise by the setting-up an economy discipline, attempting to build its credit, and you can improving its budgeting experience partly by this gang of beneficial alternatives. Brought from business’s honor-successful digital channels and you will educated financial experts, this number of safe banking solutions payday loans Illinois facilitate see clients’ everyday banking, savings and you will lending needs, 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 extra unit 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, over 2 mil members utilize this account, which is made to help them purchase precisely the currency they offer. That have SafeBalance, there aren’t any overdraft charge and also the month-to-month restoration fee was waived having qualified children underneath the ages of 24 or customers subscribed to all of our Common Rewards system. Customers makes payments which have an effective debit credit or digitally whenever signed up for Zelle ® , mobile otherwise on the internet banking.
- Keep the Transform ® – Delivered from inside the 2005, Secure the Alter is actually the original system of their kind in order to assist members generate discounts because of the automatically depositing spare change from circular right up debit credit transactions on a savings account. Now, over 6 billion clients have fun with Support the Change. Over the last 15 years, this program enjoys helped subscribers head more $fifteen mil excessively switch to coupons account.
- Safeguarded Card – This simple and you may smoother bank card might help website subscribers establish, bolster otherwise rebuild its borrowing from the bank. Website subscribers can put on to have a merchant account having a security put from $three hundred. With responsible borrowing decisions, customers is also improve their credit history and you will, over the years, may be considered for their cover put came back.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Neighborhood Homeownership Relationship, 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.
“I continue to establish a variety of innovative ways to let all of our clients get to good monetary footing,” told you April Schneider, direct off Individual and you will Business Issues within Lender off The usa. “Selection such Harmony Assist, SafeBalance and you may Secure Cards let offer readers having financial stability, and certainly will wear them an approach to expanded-label economic wellness.”
These solutions are built to encourage good financial habits, as are additional resources available through Most readily useful Currency 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
Lender of America is one of the planet’s best financial institutions, helping private consumers, smaller than average middle-field businesses and large companies which have an entire variety of banking, using, asset management or other monetary and you can chance government products and services. The firm will bring unmatched convenience in america, offering as much as 66 mil user and you will business website subscribers which have as much as 4,3 hundred merchandising monetary stores, as well as up to step 3,000 financing centers, dos,600 economic locations with a consumer Investment Financial Choice Advisor and around dos,200 company facilities; up to 16,900 ATMs; and you will prize-effective digital banking that have as much as 39 mil active users, in addition to everything 29 million cellular users. Financial of The united states is actually an international leader from inside the wide range administration, corporate and you may financing banking and you may trading round the an over-all selection of house kinds, serving businesses, governing bodies, associations and individuals global. Financial regarding America also provides globe-leading support so you’re able to just as much as step 3 billion small business homes as a result of a package out-of imaginative, easy-to-explore on line products and services. The business suits readers because of businesses along the You, their areas and approximately thirty-five nations. Lender out-of The usa Enterprise inventory (NYSE: BAC) are listed on the Ny Stock exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Financial out of The usa newsroom and create reports current email address notice.
