Preferred Rewards Program Reaches Milestone of 5 Million Enrolled Clients
Today, Bank of America announces the launch of My Rewards – a single, convenient dashboard that allows clients to see and manage all of their rewards across multiple Bank of America rewards programs. Clients will begin to see My Rewards in online banking within the next week, and the rollout for the Bank of America mobile app will continue in October.
My Rewards offers clients an easy-to-use tool that tracks the rewards they earn across , and ®, all organized in a centralized dashboard. The dashboard summary page displays the total value of their rewards earnings, with details about what they have earned from each program. It also shows clients how to maximize the value of rewards they have earned and redeem them, and provides recommendations for new rewards clients can access.
There are three tiers in Preferred Rewards, and each tier provides clients a wide array of benefits across everyday banking products. As a client’s qualifying Bank of America banking and Merrill Lynch or Merrill Edge investment balances grow, so does the level of their rewards and benefits. With BankAmeriDeals, clients earn cash back on deals they choose when they pay with their eligible Bank of America debit or credit card.
“My Rewards is a game-changer that enhances our industry-leading rewards programs. It provides clients a new level of visibility into rewards they have earned to date and how they can earn even more as their relationship with us grows,” said David Tyrie, Consumer Products executive. “My Rewards will change the way our clients think about their rewards, offering greater transparency across programs to earn and redeem rewards in a simpler way.”
My Rewards has a new user-friendly interface that allows clients to easily view their total rewards earnings and further details on each program. For example, clients enrolled in Preferred Rewards can see their credit card rewards bonuses, discounts on banking services, Merrill Edge $0 online stock and ETF trades, and loan discount benefits. Clients can also view and redeem credit card rewards and learn more about opportunities to shop and earn with BankAmeriDeals.
“Our 36 million digital clients continue to drive our innovation in mobile, and My Rewards is a great example of that,” said Michelle Moore, head of Consumer Advanced Solutions and Digital Banking. “Clients told us they wanted more visibility into how their rewards stack up, and this new feature provides them one convenient place to see and manage their rewards.”
This announcement comes on the heels of a major milestone for the Preferred Rewards program, which recently surpassed 5 million clients enrolled.
Bank of America’s digital banking platform is an evolving source of increased client engagement and satisfaction serving more than 36 million digital clients, including 25 million active mobile users. Its award-winning mobile app was the first to receive J.D. Power’s certification for “An Outstanding Mobile Banking Customer Experience.” During the second quarter of 2018, mobile banking clients logged into their accounts 1.4 billion times, made 139 million bill payments and deposited 34 million checks via mobile.
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 67 million consumer and small business clients with approximately 4,400 retail financial centers, including more than 1,700 lending centers, more than 1,900 Merrill Edge investment centers and more than 1,300 business centers; approximately 16,100 ATMs; and award-winning digital banking with more than 36 million active users, including 25 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 more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters May Contact:
Betty Riess, Bank of America