Consumer Banking

2/3/20 9:00 am EST

Bank of America today announced that its Merrill Edge Self-Directed platform has been recognized with several top rankings and awards. The recent accolades reflect the bank’s ongoing commitment to delivering industry-leading client care, innovative experiences, integrated banking and investing offerings, and intuitive tools to help clients pursue socially responsible investing.

“We are relentlessly focused on delivering a superior client experience and providing clients the insights they need to pursue their more...

1/8/20 9:00 am EST

Bank of America has launched a new educational video series designed to simplify the homebuying process for prospective first-time buyers. The First-Time Homebuyer Online Edu-Series™ features Bank of America experts providing guidance and tips on homebuying, and is the company’s latest effort to help more individuals and families pursue sustainable and affordable homeownership.

The six-episode, on-demand series, hosted by BuzzFeed’s Hannah Williams, covers key aspects of homebuying and teaches viewers smart strategies to more...

12/11/19 9:00 am EST

Bank of America today announced that its artificial intelligence (AI)-driven virtual financial assistant, Erica®, has surpassed 10 million users since its nationwide rollout in June 2018 and is on track to complete 100 million client requests in the coming weeks. These milestones coincide with the introduction of several new Erica insights within the bank’s award-winning mobile app that offer clients personalized, proactive guidance to help them stay on top of their finances.

“Erica is ushering in a new era of personalized more...

12/9/19 8:00 am EST

Bank of America today announced the expansion of unlimited commission-free online stock, ETF and option trading to all Merrill Edge Self-Directed investors.1 Zero-dollar trades, together with the firm’s powerful combination of personalized guidance, straightforward tools, professional expertise and the industry-leading Preferred Rewards program, ensure Bank of America and Merrill clients can pursue their financial goals through a more...

10/24/19 9:45 am EDT

Bank of America today announced the launch of its newly designed, award-winning mobile banking app that will provide a more seamless and streamlined experience for its approximately 29 million mobile clients. The sleek, modern design makes it even easier to navigate all of Bank of America’s robust mobile banking features. The latest version of the app also includes enhancements to more...

10/21/19 8:00 am EDT

Bank of America today announced that Merrill Edge Self-Directed will expand its zero-dollar online trade benefits, offering unlimited commission-free stock, exchange-traded fund (ETF) and option trading to clients in all tiers of its Preferred Rewards program.1 This expansion further enhances the benefits of this unique program, which rewards members for their full relationship across Bank of America deposit and Merrill more...

10/3/19 9:00 am EDT

Bank of America and AARP today announced a collaboration to provide resources to help­ retirees combat financial exploitation. Through the collaboration, Bank of America will feature AARP educational content in the Bank of America Security Center. The additional content, focused on promoting security and fighting scams, will complement the Security Center’s full range of information related to the bank’s efforts to help clients to identify, avoid and resolve fraud events faster. Bank of America will also offer an more...

9/27/19 9:00 am EDT

Bank of America is celebrating five years of its industry-leading loyalty program, Preferred Rewards, which rewards members with perks and benefits across their entire banking relationship. This unique approach to rewards has helped generate record levels of client satisfaction and retention with members. Members report more than 85 percent satisfaction with their banking relationship, and have a retention rate of nearly 99 percent. In addition, 8 out of 10 members say they are “highly likely” to recommend the bank to more...

9/5/19 9:00 am EDT

Most Americans prefer a mortgage payment to paying rent monthly according to Bank of America’s Homebuyer Insights Report. In fact, 93 percent of people who have bought a home are happier because of it, and 83 percent say they wouldn’t go back to renting. Most credit their happiness to an emotional attachment to their home, as well as the improved lifestyle and variety of hobbies that come with owning.

“We know how much homeownership means, and we see examples every day of how owning a home gives our clients the power to build personal wealth and make memories,” said D. Steve more...

8/21/19 9:00 am EDT

Bank of America today announced record-breaking person-to-person (P2P) payments use, as the company’s active Zelle® users have already completed more transactions this year than in all of 2018. In less than nine months, Bank of America clients sent and received a total of 163 million transactions, compared to 157 million transactions throughout 2018.

As people increasingly turn to cashless solutions to move and manage their money, Bank of America now has nearly 8.4 million clients actively using Zelle more...

7/22/19 9:00 am EDT

Bank of America today announced that it has opened its first full-service financial center in Cincinnati and will open its first in Columbus in the coming weeks. The company’s arrival in Ohio brings retail banking, lending and small business services, plus investing with Merrill, to new and existing clients in the areas. These centers serve as a destination to provide clients easy access to expert advice for all their financial needs.

The bank plans to open nearly 30 centers in Cincinnati and Columbus over the next two years and will expand its presence into the more...

6/25/19 9:00 am EDT

Bank of America today announced the launch of a digital debit card and other enhancements to its award-winning mobile banking app designed to make it easier and more convenient for clients to manage their finances on the go. These latest enhancements further advance the company’s high-tech and high-touch approach to helping clients meet their financial goals.

This digital debit card has the same protections and more...

6/11/19 9:30 am EDT

Bank of America Advantage SafeBalance Banking®, one of the first banking accounts to eliminate overdraft fees, is on track to surpass 1 million accounts this month. Last month, MONEY named Bank of America the “Best Bank for College Students” and selected the Advantage SafeBalance Banking account as best for students.

“SafeBalance Banking has become one of our most popular checking accounts for students and helps clients at every life stage maintain control over their finances,” said April more...

6/5/19 10:00 am EDT

Bank of America today announced the expansion of its environmental operations efforts to include the installation of solar panels across multiple locations through its Onsite Solar Initiative. The addition of solar power at financial centers, ATMs, office locations and other operational buildings will reduce energy costs for the bank and greenhouse gas (GHG) emissions. The program is expected to generate more than 25 megawatts of renewable electricity that will directly power the bank’s operations with clean energy.

“Low-carbon energy programs like this demonstrate how Bank of more...

6/3/19 9:00 am EDT

Bank of America today announced the launch of Merrill Guided Investing with an advisor, a new offering that will deliver advice and guidance to clients through a Merrill Financial Solutions Advisor (FSA) and an enhanced digital platform.

“This offering completes a powerful continuum of wealth management capabilities virtually unmatched in the industry,” said Aron Levine, head of Consumer Banking and Investments for Bank of America. “This new high-tech and high-touch offering is designed to serve clients who want both more...

5/28/19 1:00 pm EDT

Bank of America today announced that its virtual assistant, Erica, is already helping more than 7 million clients stay on top of their finances through the company’s award-winning mobile app. Since its nationwide rollout in June 2018, Erica has:

5/21/19 11:00 am EDT

Bank of America President of Consumer and Small Business Dean Athanasia will participate in the Deutsche Bank Global Financial Services Conference on Tuesday, May 28 at 1:10 p.m. Eastern Time. A live audio webcast will be accessible through the Bank of America Investor Relations website at http://investor.bankofamerica.com. A replay will also be available.

 

 

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market more...

5/16/19 9:10 am EDT

Bank of America was today recognized as a leader in The Forrester Banking Wave™: U.S. Mobile Apps Q2 2019 report.

 

  • Bank of America received the top ranking in three evaluation criteria, including self-service features, privacy and security cues, and content, and ranked among the highest in progress and workflow.
  • Bank of America achieved an overall score 10 points higher than the evaluation average, and was one of only two U.S. banks to meet or exceed the average in more...
5/13/19 10:00 am EDT

Bank of America announced that it has opened its first full-service financial center in Salt Lake City, bringing banking, investing, lending and small business services to new and existing clients in the area. The Draper financial center serves as a destination to provide clients easy access to expert advice for all their financial needs.

The new financial center, located at 1222 E. Draper Parkway, is state-of-the-art and showcases the newest technology including advanced ATMs; private offices for one-on-one client assistance; on-site specialists, including Merrill financial more...

4/23/19 9:00 am EDT

Bank of America today announced it has hired 4,700 individuals from low- and moderate-income communities over the last 18 months, bolstered by the 2018 launch of its Pathways career program. Nearly more...