Financial out-of 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 number of monetary alternatives and services designed to help clients bank confidently and improve their financial lives.
“Equilibrium Assist ‘s the most recent in an effective group of transparent, easy-to-have fun with methods to let all of our members budget, conserve, purchase and acquire meticulously and you will with confidence,” told you D. “Someone require the power to achieve economic independence and you will balances, and tend to be seeking to effortless, clear choice and you will suggestions to assist them along the way.”
Financial of America members can increase their financial fitness of the starting a benefit punishment, trying to generate their borrowing, and you will boosting the cost management knowledge to some extent through this gang of of use selection. Delivered from company’s award-winning digital streams and you can knowledgeable fiscal experts, so it group of safe financial alternatives helps fulfill clients’ casual banking, savings and credit needs, and you can has:
This type of alternatives and features are available from award-effective Bank from The united states Mobile Financial app and are also supported by Erica, the electronic 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 even more equipment facts 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 dos million readers use this account, which is built to enable them to purchase precisely the currency they offer. That have SafeBalance, there are no overdraft fees and monthly repairs percentage is actually waived to have qualified children under the ages of 24 or website subscribers signed up for our Common Rewards program. Website subscribers tends to make costs having an effective debit card or electronically when signed up for Zelle ® , mobile otherwise on the no credit check payday loans online Wyoming web banking.
- Contain the Alter ® – Delivered in the 2005, Support the Change was the first system of its form so you can assist customers make savings from the immediately depositing free go from game up debit cards purchases towards the a bank account. Now, over six mil customers have fun with Contain the Changes. Within the last fifteen years, this option possess assisted website subscribers lead over $fifteen billion excessively change to deals profile.
- Secure Cards – This simple and you will convenient credit card might help subscribers expose, strengthen otherwise reconstruct the borrowing from the bank. Readers can apply having a free account that have a safety put out-of $three hundred. That have responsible borrowing from the bank decisions, readers is improve their credit score and you will, over the years, get be considered to have their protection deposit returned.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Area Homeownership Connection, 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 consistently make various creative solutions to assist all of our readers go good economic ground,” told you April Schneider, head out-of Consumer and you can Small business Affairs on Financial of The usa. “Solutions such as Harmony Assist, SafeBalance and you may Secured Card let give clients having economic balance, and will use them a route to lengthened-identity financial health.”
These solutions are built to encourage good financial habits, as are additional resources available through Most 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 off America is amongst the world’s top creditors, helping personal users, small and center-business people and enormous enterprises that have the full range of banking, spending, resource government and other financial and you may risk administration services and products. The business brings unmatched benefits in the us, providing whenever 66 mil user and small company customers that have approximately cuatro,3 hundred merchandising financial centers, plus approximately step 3,000 lending facilities, dos,600 financial locations having a consumer Capital Financial Possibilities Coach and approximately 2,2 hundred business centers; whenever 16,900 ATMs; and prize-successful electronic financial with just as much as 39 mil effective users, and additionally approximately 29 million cellular users. Lender regarding America is a major international frontrunner inside money administration, business and resource banking and you may exchange around the a standard variety of advantage categories, serving businesses, governments, establishments and individuals worldwide. Lender from The usa even offers industry-leading service to up to step three million home business homes courtesy a great collection out-of creative, easy-to-use on the internet products. The company suits readers courtesy operations over the You, its areas and you may just as much as 35 regions. Lender out of The usa Company stock (NYSE: BAC) is on the New york Stock market.
For more Bank of America news, including dividend announcements and other important information, visit the Lender regarding America newsroom and sign up for reports email notice.