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Bank of America Preferred Rewards

It's not just rewards — it's recognition

You do a lot with us, and it hasn't gone unnoticed. In appreciation, we want to help you do, see and experience more. As a client and a member of Preferred Rewards, you'll enjoy exclusive benefits and rewards.

Maximize your benefits as a Preferred Rewards member
 

Merrill + Bank of America Preferred Rewards= More Rewards
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One program. Many benefits.

Your member benefits are designed to help you save, spend and borrow with
Bank of America, and invest with Merrill. As your relationship grows, so will your benefits.

 

Preferred Rewards Tiers comparison table
Platinum Honors

$100K to < $1MM three-month combined average daily balance

Platinum Honors colored bar
Diamond

$1MM to < $10MM three-month combined average daily balance

Diamond colored bar
Diamond Honors

$10MM+ three-month combined average daily balance

Diamond Honors colored bar

Bank of America® credit card rewards bonus1
For eligible cards

Bank of America® credit card rewards bonus1
For eligible cards

75%

75%

75%

Bank of America Advantage Savings interest rate booster2
For example, if the interest rate on a Bank of America Advantage Savings account is 1.00%, a 20% rate booster would increase the interest rate to 1.20%. Interest rate shown is for illustration only. Visit bankofamerica.com/savings for current rates.

 

Bank of America Advantage Savings interest rate booster2
For example, if the interest rate on a Bank of America Advantage Savings account is 1.00%, a 20% rate booster would increase the interest rate to 1.20%. Interest rate shown is for illustration only. Visit bankofamerica.com/savings for current rates.

 

20%
rate booster

20%
rate booster

20%
rate booster

No-fee transactions at non-Bank of America ATMs in the U.S.
Withdrawals, balance inquiries and balance transfers3

No-fee transactions at non-Bank of America ATMs in the U.S.
Withdrawals, balance inquiries and balance transfers3

Unlimited
Domestic only

Unlimited Domestic and international

Unlimited Domestic and international

Foreign currency exchange rate discount
For mobile and online orders only, includes free standard shipping

Foreign currency exchange rate discount
For mobile and online orders only, includes free standard shipping

2%

2%

2%

Mortgage origination fee reduction or Interest rate reduction on new purchase or refinance mortgage4
PayPlan must be established for interest rate reduction

Mortgage origination fee reduction or Interest rate reduction on new purchase or refinance mortgage4
PayPlan must be established for interest rate reduction

$600
origination fee reduction

0.250%
interest rate reduction

0.375%
interest rate reduction

Home Equity Line of Credit interest rate discount5

Home Equity Line of Credit interest rate discount5

0.375%

0.625%

0.750%

Auto purchase or refinance loan interest rate discount6

Auto purchase or refinance loan interest rate discount6

0.50%

0.50%

0.50%

Up to 4 eligible checking and 4 savings accounts with no monthly maintenance fee

Up to 4 eligible checking and 4 savings accounts with no monthly maintenance fee

Access up to 4 eligible checking and 4 savings accounts with no monthly maintenance fee at the platinum honors level.
Access up to 4 eligible checking and 4 savings accounts with no monthly maintenance fee and more for the Diamond tier.
Access up to 4 eligible checking and 4 savings accounts with no monthly maintenance fee and more for Diamond Honors.

No fees on select everyday banking services,
including standard check orders, incoming domestic wire transfers and more7

No fees on select everyday banking services,
including standard check orders, incoming domestic wire transfers and more7

Avoid the mentioned fees for platinum honors.
Avoid the mentioned fees for Diamond and gain enhanced protection from fees.
Avoid the mentioned fees for diamond honors and gain even more enhanced protection from fees.

Lifestyle benefits
Exclusive access to unique experiences and premium offers8

Lifestyle benefits
Exclusive access to unique experiences and premium offers8

Lifestyle benefits don’t apply for Platinum honors.
Get access to exclusive lifestyle benefits for the Diamond tier.
Get access to exclusive lifestyle benefits and more for Diamond honors.

Merrill Guided Investing — annual program fee discount9
Other fees may apply*

Merrill Guided Investing — annual program fee discount9
Other fees may apply*

0.15%

0.15%

0.15%

*Other fees may apply. Sales of ETFs are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs and mutual funds. To learn more about Merrill pricing, visit merrilledge.com/pricing. 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, registered investment advisor, Member SIPC and a wholly owned subsidiary of BofA Corp.

Investment products: 

Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
Member travel rewards

Exclusive rewards for Diamond and Diamond Honors tier members

Choose from our extensive selection of unique offers for every interest, including travel, luxury merchandise, health & wellness, events & experiences, food & drink and other personal services.

Imagined with you in mind

Enjoy exclusive benefits as a Preferred Rewards member and elevate your wealth management relationship.
 

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Frequently asked questions

What are Bank of America Preferred Rewards Diamond and Diamond Honors tier offers?

How do I become a Bank of America Preferred Rewards Diamond or Diamond Honors tier member?

How can I move to a higher Preferred Rewards tier?

How long do I have to redeem exclusive offers?

Do I need to have a Bank of America login to take advantage of these offers?

To enroll in the Preferred Rewards program you must have an active, eligible personal checking account with Bank of America® and maintain the balance required for one of the balance tiers 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). You can satisfy the combined balance requirement for enrollment with either:

i. a three-month combined average daily balance in your qualifying deposit and investment accounts.
ii. a current combined balance, provided that you enroll at the time you open your first eligible personal checking account

and satisfy the balance requirement at the end of at least one day within 30 days of opening that account.           

You must have 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. Private Bank clients qualify to enroll in the Diamond tier, and may qualify for the Diamond Honors tier based on their qualifying Bank of America, Merrill, and Private Bank balances. Refer to your Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. 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 details on employee qualification requirements, please visit the Employee Financial Services intranet site.

 

1 Certain credit cards are eligible to receive a Preferred Rewards bonus. Enrolled Preferred Rewards members with eligible Bank of America® credit cards can receive a Preferred Rewards bonus of 25% for the Gold tier, 50% for the Platinum tier, or 75% for the Platinum Honors, Diamond or Diamond Honors tier on each purchase. If your product receives the 10% customer bonus, the Preferred Rewards bonus will replace the 10% customer bonus. The Preferred Rewards bonus for eligible cash rewards credit cards will be applied after all base and bonus cash rewards have been calculated on a purchase. For example, a $100 purchase that earns 3% ($3.00) will actually earn $3.75, $4.50 or $5.25 based on your tier when the purchase posts to your account. For all other eligible card types, a purchase that earns 100 base points will actually earn 125, 150, or 175 points, based on your tier when the purchase posts to your account. The Preferred Rewards bonus is not applied to any account opening bonus, if applicable. The Preferred Rewards bonus also does not apply to the bonus earn for certain programs. This information can be found in the Program Rules associated with those credit cards. Other terms and conditions apply. Please refer to your card’s Program Rules for details about how you will receive the Preferred Rewards Bonus. Program Rules are mailed upon account opening and are accessible through the rewards redemption site via Online Banking or by calling the number on the back of your card. Visit bankofamerica.com/preferred-rewards for a complete list of ineligible cards.

 

2 The Bank of America Advantage Savings interest rate booster is only available to enrolled Preferred Rewards members. Your enrollment in Preferred Rewards will not automatically convert any existing savings account to a Bank of America Advantage Savings account without your request. If your enrollment in the Preferred Rewards program is discontinued, the interest rate booster may be discontinued. Visit bankofamerica.com/savings for current rates.

 

3 Preferred Rewards Platinum Honors, Diamond and Diamond Honors members using a Bank of America® debit or ATM card will

not be charged the non-Bank of America ATM fee and will receive a refund of the ATM operator or network fee for withdrawals, balance inquiries and balance transfers from non-Bank of America ATMs in the U.S. and U.S. territories. Preferred Rewards Platinum members will not be charged the non-Bank of America ATM fee and will receive one refund per statement cycle of the ATM operator or network fee for withdrawals, balance inquiries and balance transfers from non-Bank of America ATMs in the U.S. and U.S. territories.

 

4 The origination fee reduction and/or interest rate reductions are offered to clients who are enrolled or are eligible to enroll in Preferred Rewards, based on their asset tier at the submittal of a loan application for a new purchase or refinance loan (for co-borrowers, at least one applicant must be enrolled or eligible to enroll). Amount of the origination fee reduction ($200 for Gold tier, $400 for Platinum tier and $600 for Platinum Honors tier) and the interest rate reduction (0.250% for Diamond tier, 0.375% for Diamond Honors tier) are based on the asset tier at the submittal of mortgage application and are not subject to adjustment after the application is submitted. The origination fee reduction will not exceed the amount of the Lender Origination Fee. In order to receive the full Diamond and Diamond Honors interest rate reduction (0.250% for Diamond and 0.375% for Diamond Honors tier) you must have an eligible loan (most conforming and nonconforming loans) and enroll in PayPlan using a Bank of America deposit account at least 10 days prior to loan closing. If PayPlan enrollment is not completed 10 days prior to loan closing, or if the loan is a product ineligible for PayPlan (like FHA loan products and PrimeFirst®), you will receive a 0.125% interest rate reduction benefit for Diamond and Diamond Honors tiers. For adjustable rate mortgages (except PrimeFirst), the discounts are applied to the interest rate only during the initial fixed-rate period. For PrimeFirst adjustable rate mortgages, the discount is applied to the margin and cannot reduce the margin below 0%. Eligibility will be determined three or more business days after the day the requirements are satisfied. Some reward benefits cannot be combined with other offers. All mortgage interest rate reduction offers are subject to a maximum interest rate reduction limit. For details on requirements, visit the Preferred Rewards section of the Personal Schedule of Fees, available at bankofamerica.com/fees. Benefit is non-transferable.

 

5 Home Equity Line of Credit (HELOC) interest rate discounts are offered to clients who are enrolled or are eligible to enroll in Preferred Rewards, based on their asset tier at the submittal of home equity application (for co-borrowers, at least one applicant must be enrolled or eligible to enroll). Amount of discount (0.125% for Gold tier, 0.250% for Platinum tier, 0.375% for Platinum Honors tier, 0.625% for Diamond tier and 0.750% Diamond Honors tier) is based on the asset tier at the submittal of home equity application and is not subject to adjustment after the application is submitted. Eligibility will be determined three or more business days after the requirements are satisfied. For details on requirements, visit the Preferred Rewards section of the Personal Schedule of Fees, available at bankofamerica.com/fees. Benefit is nontransferable. Preferred Rewards home equity benefit can be combined with certain other home equity interest rate discounts.

 

6 Auto loan preferred interest rate discount of 0.25% to 0.50% is based on reward tier and valid only for enrolled Preferred Rewards members at the time of auto loan application who obtain a Bank of America auto purchase or refinance loan. The maximum preferred interest rate discount on a Bank of America auto loan is 0.50%. This preferred interest rate discount is not reflected in our published rates on our website but will be reflected in the interest rate quoted upon loan approval. Discounts are only available on auto loan applications submitted by you to Bank of America and not applications submitted through dealerships. Benefit is non-transferable. Subject to credit approval. Standard underwriting guidelines and credit policies apply.

 

7 Visit bankofamerica.com/preferred-rewards for a list of no-fee banking services.

 

8 You must be enrolled in the Diamond or Diamond Honors tiers of Preferred Rewards to be eligible for these benefits or events. Due to limited availability, some offers may be open only to a limited number of Preferred Rewards members.

 

9 Please review the applicable Merrill Guided Investing Program Brochure (PDF) or Merrill Guided Investing with Advisor Program Brochure (PDF) for information including the program fee, rebalancing, and the details of the investment advisory program. Your recommended investment strategy will be based solely on the information you provide to us for this specific investment goal and is separate from any other advisory program offered with us. If there are multiple owners on this account, the information you provide should reflect the views and circumstances of all owners on the account. If you are the fiduciary of this account for the benefit of the account owner or account holder (e.g., trustee for a trust or custodian for an UTMA), please keep in mind that these assets will be invested for the benefit of the account owner or account holder. Merrill Guided Investing is offered with and without an advisor. Merrill, Merrill Lynch, and/or Merrill Edge investment advisory programs are offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S") and Managed Account Advisors LLC (“MAA”) an affiliate of MLPF&S. MLPF&S and MAA are registered investment advisers. Investment adviser registration does not imply a certain level of skill or training.

 

Clients enrolled in Preferred Rewards receive a Preferred Rewards discount off the Merrill Guided Investing program’s annual asset-based fee of 0.45%, and the Merrill Guided Investing with Advisor and Merrill Edge Advisory Account programs’ annual asset-based fee of 0.85% for any of their accounts enrolled in the respective advisory programs. Preferred Rewards enrolled clients receive a discount of 0.05% off of the annual rate for the Gold tier, 0.10% for the Platinum tier, or 0.15% for the Platinum Honors, Diamond and Diamond Honors tiers based on their Preferred Rewards tier effective at the time the applicable advisory program fee is calculated. Bank of America Private Bank clients will also receive a discount of 0.15% off of the annual rate. It may take up to 30 calendar days for changes to your Preferred Rewards status or tier to be associated with and effective for your accounts in the advisory programs. This fee is charged monthly in advance. In addition to the annual program fee, the expenses of the investments will vary based on the specific funds within each portfolio. Actual fund expenses will vary; please refer to each fund's prospectus. 

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