Steve Boland, president off Retail in the Lender from The usa

Steve Boland, president off Retail in the Lender from The usa

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

“Harmony Help ‘s the current for the a strong set of clear, easy-to-play with remedies for help our very own customers finances, save yourself, purchase and you can obtain very carefully and you may with certainty,” told you D. “Some body require the benefit to achieve economic independence and you may stability, as they are looking to simple, obvious selection and you can recommendations to help them in the act.”

Financial regarding America subscribers can increase the financial fitness by starting a benefit discipline, attempting to make their credit, and improving the cost management knowledge partly through this group of of good use choices. Put through the organizations prize-profitable digital avenues and educated fiscal experts, that it set of secure financial options support see clients’ casual financial, offers and credit means, and comes with:

  • 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 product information 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, over 2 billion members use this account, that is made to help them purchase precisely the money they supply. Having SafeBalance, there aren’t any overdraft charge in addition to monthly restoration fee are waived having eligible college students underneath the age of twenty-four otherwise customers subscribed to our Well-known Rewards system. Readers tends to make costs which have a good debit cards or digitally when enrolled in Zelle ® , mobile or on line financial.
  • Support the Change ® – Put from inside the 2005, Keep the Change is actually the original system of the form in order to assist readers build deals by instantly depositing free go from round right up debit cards deals for the a family savings. Now, over six mil subscribers play with Hold the Alter. Over the past fifteen years, this method possess assisted website subscribers head over $fifteen million in excess change to savings levels.
  • Secure Card – This easy and simpler bank card will help members present, bolster otherwise rebuild its borrowing from the bank. Clients can apply getting a merchant account which have Idaho title loan a security put of $300. Having responsible credit conclusion, website subscribers normally improve their credit rating and you will, over the years, can get qualify to possess the protection put returned.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Community Homeownership Commitment, 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 still create many different innovative methods to assist our very own members go good economic footing,” said April Schneider, direct from User and Small business Points from the Bank away from The united states. “Options such Balance Help, SafeBalance and you will Covered Credit help render website subscribers which have financial balances, and certainly will put them on an approach to lengthened-term monetary 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 Most readily useful Money Patterns ® , 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 regarding The united states is just one of the earth’s top creditors, helping private customers, smaller than average middle-market people and large organizations which have a full set of banking, investing, resource government or any other economic and risk government services and products. The business provides unmatched convenience in the united states, helping around 66 billion individual and home business customers which have just as much as cuatro,three hundred merchandising economic centers, also everything step three,100 financing facilities, 2,600 financial centers which have a customers Financial support Monetary Choice Mentor and you will up to dos,2 hundred business stores; as much as sixteen,900 ATMs; and you will award-effective electronic financial with approximately 39 million effective users, along with whenever 29 mil mobile pages. Financial away from America is actually a global chief from inside the wide range management, corporate and you can financial support financial and exchange round the a standard selection of asset categories, serving corporations, governments, organizations and individuals worldwide. Financial away from The united states has the benefit of business-best service to help you approximately 3 billion small company house by way of an excellent package away from innovative, easy-to-fool around with on line products and services. The firm suits readers thanks to functions along side Us, their areas and you will around thirty-five countries. Financial of The usa Enterprise stock (NYSE: BAC) try listed on the New york Stock exchange.