Bank of America Introduces a Digital Debit Card

  • Latest Features Deliver Enhanced Convenience to 27 Million Mobile Banking Clients

  • Company Named "Best in Class" in Javelin's 2019 Mobile and Online Banking Scorecards

 

Tuesday, June 25, 2019 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 benefits of a physical debit card and is immediately available to use in the mobile app. Through the mobile app, eligible clients can request a digital debit card for a new or replacement debit card and then they can instantly and securely:

  • Pay in stores, in apps and online using a mobile wallet.
  • Shop online by accessing all necessary card details in the mobile app.
  • Get cash and make deposits at Bank of America’s cardless ATMs.

 

“Our goal is to bring never-before-possible convenience to clients,” said David Tyrie, head of advanced solutions and digital banking at Bank of America. “With our new digital debit card, clients can transact immediately and avoid waiting for their permanent card. This feature is one of several new digital offerings that reinforce our commitment to making clients’ financial lives easier.”

Bank of America is also rolling out Mobile Orders in the coming weeks, which allow clients to place orders for foreign currency and more through their mobile app and track progress:

  • Clients traveling internationally can plan ahead and easily order foreign currency, choose a specific financial center for pickup or have it delivered to their home, and receive notifications every step of the way ‒ all through the mobile app.
  • Small business clients can take advantage of Mobile Orders to preorder bills and coins in the denomination they need to keep their business moving. Clients can select a specific financial center for pickup and track their orders with real-time alerts and updates.

 

Javelin Strategy & Research recognizes mobile and online capabilities as the industry’s best

Bank of America was also recently recognized for excellence in mobile and online banking by Javelin Strategy & Research:

  • For the third consecutive year, Bank of America was named “Best in Class” in both the firm’s 2019 Mobile Banking Scorecard and Online Banking Scorecard.
  • The bank was named a leader in five separate categories: Ease of Use, Security Empowerment, Financial Fitness, Customer Service, and Account Opening.

 

Javelin Strategy & Research, a research-based advisory firm, measures digital solutions offered at several of the largest U.S. financial institutions. The mobile and online banking scorecards evaluate individual features based on their strategic value, tactical necessity and industry and consumer trends. The overall scores are a composite of six categories weighted by what consumers say is most important to their satisfaction with mobile and online banking.


Investing in the intersection of high-tech and high touch

Bank of America continues to invest in both its digital and physical presence, helping clients with their financial needs and delivering a seamless experience across all channels. As part of this high-tech, high-touch strategy, the company has:

  • Modernized and expanded its financial center and ATM network to deliver an enhanced experience to more than 66 million clients in new and existing markets
  • Demonstrated its commitment to building lifelong client relationships with Preferred Rewards, a first-of-its kind, comprehensive loyalty program

 

Also introduced from Merrill:

  • Recently expanded Merrill Guided Investing to include the option to work with an advisor, giving clients and prospects the opportunity to seamlessly move from a digital offering to an advisory relationship

 

 

About Bank of America Digital Banking
Bank of America’s digital banking platform is an evolving source of increased client engagement and satisfaction serving more than 37 million digital clients, including more than 27 million active mobile users. Its award-winning mobile app and online banking were the first to receive J.D. Power’s certification for “An Outstanding Customer Experience.” During the first quarter of 2019, clients logged into mobile 1.5 billion times and deposited 34 million checks via mobile.

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,400 retail financial centers, including approximately 1,800 lending centers, 2,200 financial centers with a Consumer Investment Financial Solutions Advisor, and 1,500 business centers; approximately 16,400 ATMs; and award-winning digital banking with more than 37 million active users, including over 27 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom. Click here to register for news email alerts.

www.bankofamerica.com

Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of BofA Corp.

Investment products:

Are Not FDIC Insured

       

Are Not Bank Guaranteed

       

May Lose Value

© 2019 Bank of America Corporation. All rights reserved.

 

Reporters May Contact:
Betty Riess, Bank of America, 415.913.4416
betty.riess@bankofamerica.com