Steve Boland, president out of Retail at Financial out of The united states

Steve Boland, president out of Retail at Financial out of The united states

Bank away from America 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 choices and services designed to help clients bank confidently and improve their financial lives.

“Harmony Let is the most recent inside the a powerful group of transparent, easy-to-use answers to assist our clients budget, help save, invest and you can acquire meticulously and you may with full confidence,” told you D. “Anyone need the benefit to get to monetary liberty and you can balances, and therefore are trying to effortless, clear solutions and you may recommendations to assist them along the way.”

This type of possibilities online payday loans for Tennessee residents and you will attributes are available through the prize-profitable Bank out of America Mobile Banking application and therefore are supported by Erica, our very own electronic secretary

Bank of The united states customers increases the financial fitness from the installing a savings discipline, trying to generate its borrowing from the bank, and you can improving their budgeting skills partly from this band of of use choices. Lead from the organizations prize-effective electronic streams and you will knowledgeable fiscal experts, so it group of secure financial solutions helps meet clients’ relaxed banking, discounts and you may financing need, and you may is sold 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 a lot more tool 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 mil readers utilize this membership, that’s designed to assist them to spend just the money they offer. That have SafeBalance, there are no overdraft fees therefore the month-to-month restoration percentage try waived to possess eligible pupils within the chronilogical age of twenty four or clients signed up for our Popular Advantages program. Website subscribers renders money having good debit cards otherwise electronically when enrolled in Zelle ® , cellular otherwise online financial.
  • Contain the Changes ® – Lead into the 2005, Contain the Change is actually the initial system of its form in order to help website subscribers create offers because of the instantly depositing free change from rounded right up debit credit transactions for the a checking account. Now, over six mil subscribers have fun with Contain the Changes. During the last fifteen years, this method possess aided members lead over $15 mil excessively change to deals levels.
  • Covered Cards – This easy and you will simpler charge card can help subscribers expose, bolster or rebuild its credit. Clients can apply getting a merchant account with a protection deposit out-of $3 hundred. Having in control credit decisions, members can be improve their credit history and you may, over time, will get qualify to possess its safety put came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion People 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 develop a number of creative approaches to assist our very own readers achieve strong financial footing,” said April Schneider, head out of User and Business Facts from the Lender off The united states. “Selection such as for instance Harmony Help, SafeBalance and you will Safeguarded Cards let provide readers that have monetary balance, and certainly will wear them a route to longer-title economic fitness.”

These solutions are built to encourage good financial habits, as are additional resources available through Top 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

Bank off America is among the world’s best creditors, helping personal users, small and middle-field enterprises and large corporations which have the full listing of financial, expenses, investment government and other economic and you may risk government products. The company provides unrivaled convenience in the us, providing approximately 66 million individual and you may small business website subscribers with as much as 4,three hundred merchandising economic stores, in addition to up to step 3,one hundred thousand financing locations, dos,600 economic locations that have a consumer Investment Economic Selection Mentor and you can around dos,2 hundred team locations; approximately 16,900 ATMs; and you will prize-successful digital financial that have everything 39 mil productive profiles, and around 29 billion cellular pages. Lender regarding America is actually a worldwide leader when you look at the riches management, business and financial support banking and you can trade all over a standard range of house kinds, providing businesses, governments, associations and other people around the globe. Financial out of The usa also offers community-top help to help you approximately step 3 mil business domiciles as a result of a package of innovative, easy-to-play with on line products. The business provides subscribers using procedures across the Us, the territories and you may whenever 35 places. Lender out-of The usa Company stock (NYSE: BAC) are on the Nyc Stock market.

For more Bank of America news, including dividend announcements and other important information, visit the Lender from The united states newsroom and create reports current email address notification.

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