Steve Boland, chairman out-of Merchandising from the Lender out-of The united states

Lender from 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 selection of financial choice and services designed to help clients bank confidently and improve their financial lives.

“Harmony Help is the latest into the a powerful number of clear, easy-to-play with methods to help our members funds, conserve, purchase and you will use meticulously and with certainty,” said D. “Somebody want the power to achieve economic liberty and you may balances, and so are seeking to easy, obvious solutions and you may guidance to enable them to in the process.”

Bank away from The united states readers can increase their financial fitness from the establishing a benefit discipline, working to create its borrowing from the bank, and you can improving their cost management knowledge partly from this set of helpful possibilities. Lead from business’s honor-effective digital channels and you can educated financial specialists, it set of safer financial alternatives helps see clients’ casual financial, coupons and lending requires, and has:

• 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 unit 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™ – Today, more 2 million customers use this account, that’s built to assist them to purchase just the currency it offer. With SafeBalance, there aren’t any overdraft charge plus the month-to-month repair commission are waived to possess qualified pupils beneath the period of twenty-four otherwise customers signed up for all of our Popular Perks program. Readers helps make costs with a great debit card or electronically when signed up for Zelle ® , cellular otherwise on the internet financial.
• Contain the Alter ® – Brought in the 2005, Contain the Changes was the original program of the type to assist members make savings of the automatically depositing free move from rounded up debit cards purchases on a family savings. Today, over 6 mil clients explore Hold the Alter. Over the last 15 years, this choice has actually helped website subscribers head over $fifteen mil excessively change to deals membership.
• Shielded Cards – This simple and you may convenient mastercard might help https://title-max.com/payday-loans-wv/ members present, strengthen or rebuild their borrowing. Clients can apply to have a merchant account which have a protection put off $three hundred. Which have responsible borrowing from the bank decisions, customers can also be enhance their credit rating and you can, over time, may meet the requirements getting their cover put returned.
• Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Neighborhood 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.

For much more Bank off The usa information, along with bonus notices and other information, look at the

“I continue to establish many different innovative approaches to help all of our members go strong monetary footing,” told you April Schneider, head off Consumer and you may Small business Products at the Bank out-of The usa. “Options such as for instance Equilibrium Assist, SafeBalance and Secured Credit let render clients that have monetary balances, and certainly will use them a route to stretched-label economic fitness.”

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 useful 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

Financial regarding The united states is one of the earth’s leading creditors, helping individual consumers, smaller than average middle-business businesses and enormous providers with a full list of financial, expenses, resource government and other monetary and you can exposure government products. The organization will bring unmatched benefits in the usa, providing approximately 66 million individual and home business customers that have everything cuatro,3 hundred merchandising financial centers, along with everything 3,100000 credit stores, 2,600 economic locations with a consumer Capital Monetary Selection Advisor and up to dos,200 team centers; whenever 16,900 ATMs; and you will honor-successful digital banking with just as much as 39 billion active users, also everything 29 mil cellular profiles. Lender from America try a worldwide commander in wealth government, corporate and you can financial support banking and you will exchange round the a standard set of resource categories, offering corporations, governments, associations and other people around the world. Financial regarding America also offers community-top help so you can whenever step 3 mil small company properties by way of a good room from innovative, easy-to-fool around with on the internet products and services. The organization caters to clients by way of surgery over the United states, their regions and everything 35 nations. Financial out-of The united states Agency inventory (NYSE: BAC) is on the New york Stock market.