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Steve Boland, chairman regarding Shopping on Bank off The usa

Bank off 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 economic alternatives and services designed to help clients bank confidently and improve their financial lives.

“Equilibrium Help is the newest for the a robust gang of transparent, easy-to-fool around with ways to help the members finances, rescue, purchase and you can obtain meticulously and you will with confidence,” said D. “Anyone need the benefit to get to monetary freedom and stability, and so are trying effortless, clear choices and advice to enable them to in the process.”

Lender from The united states members can increase the economic fitness from the setting-up an economy abuse, trying to make its credit, and you can boosting their budgeting skills in part from this number of of good use options

Brought through the organizations honor-effective electronic streams and educated financial experts, which set of safer banking solutions support satisfy clients’ everyday banking, deals and financing need, and 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 unit 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™ – Now, more than 2 million members use this account, that’s designed to assist them to invest just the currency it supply. That have SafeBalance, there aren’t any overdraft charge together with monthly restoration payment are waived to possess qualified youngsters underneath the age 24 otherwise clients enrolled in our Preferred Rewards system. Clients renders costs with a great debit cards otherwise digitally whenever enrolled in Zelle ® , cellular or on the web financial.
  • Contain the Alter ® – Put inside the 2005, Secure the Alter are the original system of their form to assist subscribers create offers from the immediately placing free change from game right up debit card transactions for the a bank account. Today, more than 6 million readers play with Secure the Transform. Over the past fifteen years, this program has actually helped customers head more than $fifteen billion excessively switch to offers profile.
  • Safeguarded Cards – This easy and you may much easier charge card will help clients expose, reinforce otherwise rebuild the borrowing from the bank. Subscribers can apply for an account with a safety put regarding $300. Having in charge credit decisions, members is enhance their credit history and you can, throughout the years, could possibly get qualify to own their security deposit returned.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion People 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 consistently produce many different innovative methods to assist the customers go good financial ground,” said April Schneider, direct out-of Individual and you can Business Issues in the Bank out-of The united states. “Choices for example Balance Assist, SafeBalance and you may Protected Credit assist give members having monetary stability, and can put them on a path to stretched-title financial wellness.”

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 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 off The united states is one of the world’s leading loan providers, helping private customers, smaller than average center-market people and enormous providers which have a full a number of financial, paying, investment administration or any other economic and you will exposure management products and services. The company brings unrivaled convenience in america, serving whenever 66 million individual and you will business website subscribers having up to 4,3 hundred merchandising financial stores, and additionally as much as 3,100 credit stores, dos,600 monetary facilities that payday loans Florence open sundays have a customers Resource Monetary Selection Advisor and you may just as much as 2,200 providers stores; as much as sixteen,900 ATMs; and you will honor-profitable digital banking which have around 39 billion active profiles, in addition to approximately 30 million mobile profiles. Financial out of The united states try a major international chief for the riches administration, corporate and you will investment financial and you can change all over a standard set of advantage classes, helping corporations, governing bodies, establishments and people internationally. Lender off The united states offers industry-best help in order to just as much as 3 million business homes due to a great room out of imaginative, easy-to-play with online products. The firm serves customers compliment of operations over the All of us, the territories and you can whenever 35 nations. Financial out-of America Organization stock (NYSE: BAC) was listed on the New york Stock-exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Lender off The usa newsroom and register for information current email address notification.

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