“The lower qualifying balance for Preferred Rewards than Platinum Privileges means more of our clients are able to participate in the program and earn greater rewards,” said Aron Levine, head of Preferred Banking and Merrill Edge Investing at Bank of America. “The rewards are broader and reach across the bank, so more clients can experience all that Bank of America has to offer through one simple program.”
Following a successful five-state pilot, Preferred Rewards will be rolled out in four waves, beginning in Arkansas, Iowa, Maine, Massachusetts, New Hampshire, New Mexico, Oklahoma, Rhode Island and Texas. The national rollout will continue in three additional waves from July to September.
Clients who are currently enrolled in Bank of America’s Platinum Privileges program are encouraged to enroll in Preferred Rewards at www.bankofamerica.com/preferred-rewards. Once they enroll in Preferred Rewards, their new benefits will replace existing Platinum Privileges benefits.
Bank of America Preferred BankingBank of America Preferred Banking, which launched in 2012, has added more than 2,100 specialists in more than 1,150 banking branches to work on the Preferred Rewards program. Bank specialists act as one team within banking centers to proactively reach out and offer advice and solutions to clients regarding the Preferred Rewards program. Preferred Banking was created to provide clients with access to all of their banking information in one place, transfer funds among those accounts and receive guidance when they need it.Bank of AmericaBank of America is a leading financial institution, serving individual consumers, small businesses, 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 49 million consumer and small business relationships with approximately 5,100 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users and more than 15 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in 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 in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.