Employee banking1 and investing2

Whether they’re just starting out or dealing with the more complex needs of a C-level executive, your employees will have access to a dedicated team of specialists that can work one-on-one with employees to provide ongoing financial education and guidance. Supporting your employees with a full range of banking and lending solutions from Bank of America and investing solutions from Merrill.

 

Plus, you have special access to enroll in Bank of America Preferred Rewards,3 an industry-leading program4 that offers exclusive benefits and rewards designed around the ways you save, spend and borrow with Bank of America and invest with Merrill.

 

Watch our video to learn more about the benefits to employees of companies that make this offering available.

How we make it happen

Bank of America Preferred Rewards

 

Delivering Preferred Rewards Gold tier benefits, to employees with an eligible Bank of America checking account, plus set up all or a portion of your company payroll direct deposit into an eligible Bank of America checking or savings account, then enroll in Preferred Rewards through Mobile or Online Banking.

 

  • Useful lineup of Bank of America banking benefits
  • More benefits with enrollment in our Preferred Rewards program2
  • High-tech, high-touch engagement

 

Financial education

 

  • Explore resources and tools that can help build financial wellness Better Money Habits®
  • Versatile tools and calculators help your employees spend smarter and save more
  • Set and track your goals with just a few taps
  • Bank of America Life Plan® is powerful digital tool that helps you work toward your short- and long-term goals, get one-on-one advice and adjust when life changes

 

Simplified implementation

 

  • No technology development
  • No firm-to-firm data transfer
  • No exclusivity arrangement
 
 

Get in touch today

Khristian Hawver-Scott headshot

Khristian Hawver-Scott

Employee Banking &

Investments Executive

609.274.8692

khristian.hawver-scott@bofa.com

Woman smiling picking flowers

Set and track your goals with just a few taps

Bank of America Life Plan® is powerful digital tool that helps you work toward your short- and long-term goals, get one-on-one advice and adjust when life changes.

Find out how we can help. Connect with us.

See how our banking with Bank of America and investing with Merrill can help empower your employees.

1 The bundle of no-fee banking services is available on qualified checking or savings accounts. A qualified account is an existing or new eligible personal Bank of America checking or savings account receiving a participating Company payroll direct deposit. These banking benefits will be applied within 60 days following Bank of America’s identification of your Company payroll direct deposit into your eligible account.

Investment products are offered through Merrill Lynch, Pierce, Fenner & Smith Incorporated.

3 As an employee of a company participating in the Bank of to enroll in the Preferred Rewards program if you:

  • Have an active, eligible Bank of America personal checking account, and
  • Receive all or part of your payroll direct deposit from the participating company into an eligible Bank of America checking or savings account.

Employees qualify for the Gold tier of Preferred Rewards without meeting the balance requirement, and may qualify for higher tiers on the standard program terms. The standard program terms require an eligible Bank of America personal checking account and a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier, $1,000,000 for the Diamond tier and $10,000,000 for the Diamond Honors tier in your combined qualifying Bank of America deposit accounts (such as checking, savings, certificate of deposit) and/or your Merrill investment accounts (such as Cash Management Accounts, 529 Plans). The qualifying balance is calculated based on your average daily balance for a three calendar month period. Employee benefit plans (such as 401(k)) will not count toward the combined balance requirement. If you are no longer an employee, standard program terms apply. New employees may have to wait up to one month before they can enroll to allow for their employee status to be identified. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. For more information, visit the Preferred Rewards section of the Personal Schedule of Fees.

4 Loyalty program competitive research study provided by Curinos, March 2022.