Steve Boland, president off Retail during the Lender out of America

Steve Boland, president off Retail during the Lender out of America

Financial out of 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 group of monetary alternatives and services designed to help clients bank confidently and improve their financial lives.

“Equilibrium Let is the newest for the a powerful selection of transparent, easy-to-have fun with ways to assist our subscribers budget, save, spend and you can acquire carefully and you may with certainty,” told you D. “People wanted the power to attain financial freedom and you can stability, and generally are looking to simple, obvious solutions and you can information to enable them to in the act.”

Bank out of The united states readers can increase their financial fitness because of the establishing an economy discipline, trying to build its credit, and you will improving the cost management event in part through this selection of of use alternatives. Introduced through the company’s award-successful electronic channels and you may knowledgeable financial specialists, it number of safe banking alternatives assists see clients’ informal financial, savings and you may financing demands, and you will boasts:

This type of solutions and you can properties come through the honor-winning Financial away from The united states Mobile Banking application and are generally backed by Erica, our very own digital assistant

  • 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 product 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 2 million members use this membership, which is built to help them purchase precisely the currency it offer. With SafeBalance, there are no overdraft costs while the monthly maintenance payment was waived for qualified youngsters beneath the chronilogical age of twenty-four otherwise website subscribers enrolled in the Preferred Perks program. Members makes payments with a beneficial debit credit otherwise electronically when signed up for Zelle ® , mobile or online banking.
  • Contain the Alter ® – Put for the 2005, Support the Changes is actually the initial system of its type in order to help website subscribers make deals from the instantly depositing free change from round up debit credit purchases toward a bank account. Today, more six mil website subscribers play with Secure the Transform. During the last fifteen years, this program has helped clients direct more $fifteen mil in excess change to savings account.
  • Secure Credit – This easy and you can smoother bank card may help subscribers introduce, reinforce otherwise rebuild the credit. Clients can use having a merchant account which have a security put out of $3 hundred. With responsible borrowing conclusion, customers can also be boost their credit history and you can, over time, fast payday loans airline drive Brownsville TN could possibly get be considered getting its safeguards put returned.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Area 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 several innovative answers to help our members get to solid economic footing,” told you April Schneider, direct out of Consumer and you will Home business Situations at Bank regarding The united states. “Selection for example Balance Assist, SafeBalance and you will Covered Credit assist bring subscribers that have financial balance, and will wear them a path to prolonged-name monetary fitness.”

These solutions are built to encourage good financial habits, as are additional resources available through Best Currency Designs ® , 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 out of The usa is among the world’s top creditors, providing private customers, smaller than average center-field companies and large agencies that have the full selection of financial, spending, asset government and other economic and you can risk management products and services. The business will bring unrivaled benefits in the us, serving approximately 66 billion consumer and you may small business website subscribers which have up to cuatro,300 retail economic centers, including just as much as step three,one hundred thousand lending facilities, dos,600 economic facilities that have a buyers Funding Monetary Possibilities Mentor and you will whenever dos,two hundred team centers; whenever 16,900 ATMs; and you may award-effective electronic financial having just as much as 39 billion active users, and everything 30 million cellular profiles. Lender out-of The united states is actually a global commander during the wealth management, business and investment banking and trading all over a standard listing of house categories, offering businesses, governments, associations and folks internationally. Financial of America now offers community-best service so you can approximately 3 billion small company home by way of a collection of creative, easy-to-use online services and products. The business provides members courtesy procedures along the You, their territories and you may whenever 35 places. Financial out-of The united states Enterprise stock (NYSE: BAC) try listed on the New york Stock market.

For more Bank of America news, including dividend announcements and other important information, visit the Bank away from The usa newsroom and sign up for development current email address notification.

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