Steve Boland, president out-of Retail at Bank out-of The united states

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Steve Boland, president out-of Retail at Bank out-of The united states

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Lender 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 set of financial possibilities and services designed to help clients bank confidently and improve their financial lives.

“Harmony Assist is the most recent within the an effective band of transparent, easy-to-play with remedies for let our very own website subscribers funds, save yourself, purchase and acquire meticulously and you will with certainty,” said D. “Some one want the benefit to get to economic liberty and you will balance, and tend to be trying effortless, obvious choices and you may advice to assist them to in the act.”

Bank away from The united states subscribers can increase their financial fitness by installing a cost savings punishment, attempting to make the credit, and you will boosting their budgeting knowledge in part through this gang of of good use choices. Lead from company’s award-winning electronic channels and you may educated fiscal experts, that it gang of safe financial selection facilitate see clients’ casual financial, deals and you may financing needs, and you will includes:

  • 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 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 dos mil members use this account, that’s designed to enable them to spend precisely the money it supply. Having SafeBalance, there aren’t any overdraft charges and month-to-month fix payment try waived getting qualified children within the chronilogical age of twenty-four otherwise customers enrolled in our Well-known Perks program. Clients can make money that have a good debit cards or electronically whenever signed up for Zelle ® , cellular or on line banking.
  • Keep the Change ® – Delivered from inside the 2005, Secure the Changes are the initial system of their kind to assist customers build offers from the automatically depositing spare go from round up debit cards purchases toward a bank account. Today, over six million subscribers fool around with Contain the Transform. Within the last fifteen years, this option keeps helped website subscribers lead over $fifteen billion excessively switch to coupons profile.
  • Protected Cards – This simple and you can much easier credit card can help readers introduce, reinforce otherwise rebuild their borrowing. Customers can apply to own a free account that have a protection put out of $three hundred. That have responsible borrowing decisions, subscribers can also be improve their credit score and you may, through the years, could possibly get qualify getting the cover put returned.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Society 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.

“I continue steadily to establish several imaginative remedies for let all of our website subscribers go strong financial footing,” said April Schneider, head from User and you will Home business Circumstances from the Bank away from The usa. “Options for example Balance Assist, SafeBalance and you may Shielded Card let promote website subscribers with financial balance, and will put them on a route to lengthened-identity financial health.”

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 Most readily useful Currency Models ® , 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 off The united states is amongst the planet’s best loan providers, serving individual people, smaller than average center-industry businesses and large firms which have an entire selection of banking, spending, resource administration and other financial and you may chance management products. The firm brings unmatched benefits in the us, offering whenever 66 mil user and you may small company website subscribers with up to 4,300 retail monetary centers, and approximately 3,one hundred thousand lending centers, dos,600 monetary stores with a customer Resource Monetary Alternatives Mentor and you will up to 2,2 hundred business facilities; around 16,900 ATMs; and you can award-successful digital banking that have around 39 billion effective pages, together with around 31 million mobile profiles. Financial of America is actually an international commander from inside the wide range management, corporate and money financial and you will change across a standard directory of investment kinds, providing providers, governing bodies, organizations and people international. Bank regarding The usa also offers industry-best service to help you up to 3 mil home business homes owing to an excellent suite regarding imaginative, easy-to-have fun with on line products. The organization provides readers using functions across the United states, its regions and you may whenever thirty five regions. Lender out of America Company stock (NYSE: BAC) try on the New york Stock exchange.