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Steve Boland, chairman away from Merchandising at Lender off The usa

Steve Boland, chairman away from Merchandising at Lender off The usa

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

Harmony Let is the newest inside the a strong number of transparent, easy-to-explore methods to assist our members finances, save yourself, purchase and you may acquire very carefully and you can with certainty, told you D. Somebody wanted the benefit to get to financial freedom and stability, and are generally seeking easy, obvious solutions and you may advice to assist them along the way.

Bank off The usa subscribers increases its economic fitness because of the establishing a cost savings abuse, trying to make their credit, and you can boosting their cost management enjoy in part by this set of helpful choices. Lead from organization’s honor-successful electronic streams and you can experienced financial specialists, which group of secure financial choice facilitate see clients’ informal banking, savings and financing need, and you can has:

This type of alternatives and you can features are available through the honor-effective Lender from The united states Cellular Financial application and tend to be supported by Erica, the digital assistant

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  • 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 even more device info 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 2 billion readers utilize this account, that’s designed to help them spend only the currency it have available. That have SafeBalance, there are not any overdraft fees together with monthly repair percentage is waived getting eligible students according to the age of 24 or subscribers signed up for the Popular Rewards system. Subscribers produces repayments that have a beneficial debit card otherwise electronically whenever signed up for Zelle , mobile or on the web banking.
  • Support the Transform Lead for the 2005, Keep the Changes are the original system of the type to help you let subscribers build discounts of the automatically transferring free go from circular upwards debit credit purchases toward a family savings. Today, more 6 mil readers use Contain the Transform. Within the last fifteen years, this program provides aided clients direct more than $fifteen million in excess change to savings profile.
  • Secured Card This simple and you will smoother credit card may help subscribers expose, reinforce or rebuild the borrowing. Website subscribers can put on to have a free account which have a safety deposit regarding $three hundred. Having responsible borrowing decisions, website subscribers can be boost their credit history and you can, over the years, can get qualify having their shelter deposit returned.
  • Affordable Home Loans In early 2019, Bank of America launched its $5 billion Neighborhood 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 create various innovative remedies for assist our subscribers go solid financial footing, said April Schneider, lead from Consumer and you can Small business Issues from the Bank out of The usa. Options such as for instance Balance Help, SafeBalance and you will Secured Cards help bring website subscribers that have economic balances, and can use them a route to prolonged-label economic health.

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

Bank off The usa is just one of the world’s top financial institutions, serving individual people, smaller than average middle-markets people and large agencies which have a complete selection of financial, spending, house government or other monetary and you may exposure government services. The organization provides unmatched convenience in america, offering just as much as 66 million individual and you will business members having approximately 4,3 hundred retail economic facilities, and additionally whenever step 3,100000 lending centers, 2,600 economic locations that have a buyers Money Financial Solutions Coach and whenever 2,two hundred business centers; whenever sixteen,900 ATMs; and you may award-effective digital banking that have as much as 39 million effective profiles, together with as much as 31 billion cellular pages. Bank regarding The usa are a major international frontrunner into the wealth management, business and resource banking and you can change around the a standard set of resource classes, offering enterprises, governing bodies, institutions and folks internationally. Bank of America also provides globe-top service so you can everything step three million small business property by way of an excellent collection off imaginative, easy-to-fool around with on the web products and services. The firm provides customers as a result of functions along the Us, their territories and whenever thirty five nations. Financial from The united states Business stock (NYSE: BAC) try on the Nyc Stock exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Financial out of America newsroom and sign up for information email address notification.

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