Skip to main content

Preferred Rewards program details

There are 3 tiers in the Preferred Rewards program. Your tier is based on your qualifying combined balances in your Bank of America® banking and/or Merrill Edge® and Merrill Lynch® investment accounts.

Once enrolled, we'll move you up automatically when your balances qualify you for the next rewards tier. And no need to worry if your balances dip now and then. Once you reach a rewards tier, you'll keep your program benefits for a full 12 months.

Gold Platinum Platinum Honors
Required balance $20K to $50K3-month average combined balance $50K to $100K3-month average combined balance $100K+3-month average combined balance
Rewards Money Market Savings interest rate booster 5%interest rate booster layerFootnote 1 on a Rewards Money Market Savings Account 10%interest rate booster layerFootnote 1 on a Rewards Money Market Savings Account 20%interest rate booster layerFootnote 1 on a Rewards Money Market Savings Account
Credit card rewards bonus 25%rewards bonusFootnote 2 on eligible Bank of America credit cards
Review card eligibility guidelines layer
50%rewards bonusFootnote 2 on eligible Bank of America credit cards
Review card eligibility guidelines layer
75%rewards bonusFootnote 2 on eligible Bank of America credit cards
Review card eligibility guidelines layer
Non-Bank of America ATM Transactions   up to 12/yearno-fee ATM transactions — withdrawals, balance inquiries and balance transfers (one each per statement cycle) — with a Bank of America debit or ATM card at non-Bank of America ATMs in the U.S.Footnote 3 unlimitedno-fee ATM transactions — withdrawals, balance inquiries and balance transfers — with a Bank of America debit or ATM card at non-Bank of America ATMs in the U.S.Footnote 3
Merrill Edge® online investing
Merrill Edge
  up to 30/month$0 online equity and ETF tradesFootnote 4 on a Merrill Edge online investment account
Other fees may apply
Plus Merrill Edge MarketPro® 5
up to 100/month$0 online equity and ETF tradesFootnote 4 on a Merrill Edge online investment account
Other fees may apply
Plus Merrill Edge MarketPro® 5
Priority client service Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs. Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs. Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs.
Reduced mortgage origination fee $200reduction in the origination feeFootnote 6 on a new Bank of America purchase or refinance mortgage $400reduction in the origination feeFootnote 6 on a new Bank of America purchase or refinance mortgage $600reduction in the origination feeFootnote 6 on a new Bank of America purchase or refinance mortgage
Home equity discount 0.125%interest rate discountFootnote 7 on a new Bank of America home equity line of credit 0.250%interest rate discountFootnote 7 on a new Bank of America home equity line of credit 0.375%interest rate discountFootnote 7 on a new Bank of America home equity line of credit
Auto loan discount 0.25%interest rate discount on a new Bank of America auto purchase or refinance loanFootnote 8 0.35%interest rate discount on a new Bank of America auto purchase or refinance loanFootnote 8 0.50%interest rate discount on a new Bank of America auto purchase or refinance loanFootnote 8
Additional checking & savings accounts No monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America No monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America No monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America
No-fee banking services No fees on select services, including standard check orders, cashier's checks, stop payments and more layer information on no-fee banking services for Gold tierFootnote 9 No fees on select services, including standard check orders, cashier's checks, stop payments and more layer information on no-fee banking services for Platinum tierFootnote 9 No fees on select services, including standard check orders, cashier's checks, stop payments and more layer information on no-fee banking services for Platinum Honors tierFootnote 9

There are 3 tiers in the Preferred Rewards program: Gold, Platinum and Platinum Honors. Once you enroll, your balances grow, so do your benefits.

Required balance Rewards Money Market Savings interest rate booster Credit card rewards bonus Non-Bank of America ATM Transactions Merrill Edge Merrill Edge® online investing Priority client service Reduced mortgage origination fee Home equity discount Auto loan discount Additional checking & savings accounts No-fee banking services
Gold $20K to $50K 3-month average combined balance 5%interest rate booster layerFootnote 1 on a Rewards Money Market Savings Account 25%rewards bonusFootnote 2 on eligible Bank of America credit cards
Review card eligibility guidelines layer
    Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs. $200reduction in the origination feeFootnote 6 on a new Bank of America purchase or refinance mortgage 0.125%interest rate discountFootnote 7 on a new Bank of America home equity line of credit 0.25%interest rate discount on a new Bank of America auto purchase or refinance loanFootnote 8 No monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America No fees on select services, including standard check orders, cashier's checks, stop payments and more layer information on no-fee banking services for Gold tierFootnote 9
Platinum $50K to $100K3-month average combined balance 10%interest rate booster layerFootnote 1 on a Rewards Money Market Savings Account 50%rewards bonusFootnote 2 on eligible Bank of America credit cards
Review card eligibility guidelines layer
up to 12/yearno-fee ATM transactions — withdrawals, balance inquiries and balance transfers (one each per statement cycle) — with a Bank of America debit or ATM card at non-Bank of America ATMs in the U.S.Footnote 3 up to 30/month$0 online equity and ETF tradesFootnote 4 on a Merrill Edge online investment account
Other fees may apply
Plus Merrill Edge MarketPro® 5
Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs. $400reduction in the origination feeFootnote 6 on a new Bank of America purchase or refinance mortgage 0.250%interest rate discountFootnote 7 on a new Bank of America home equity line of credit 0.35%interest rate discount on a new Bank of America auto purchase or refinance loanFootnote 8 No monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America No fees on select services, including standard check orders, cashier's checks, stop payments and more layer information on no-fee banking services for Platinum tierFootnote 9
Platinum Honors $100K+3-month average combined balance 20%interest rate booster layerFootnote 1 on a Rewards Money Market Savings Account 75%rewards bonusFootnote 2 on eligible Bank of America credit cards
Review card eligibility guidelines layer
unlimitedno-fee ATM transactions — withdrawals, balance inquiries and balance transfers — with a Bank of America debit or ATM card at non-Bank of America ATMs in the U.S.Footnote 3 up to 100/month$0 online equity and ETF tradesFootnote 4 on a Merrill Edge online investment account
Other fees may apply
Plus Merrill Edge MarketPro® 5
Priority service through the Preferred Rewards Center (888.888.RWDS), a dedicated team of specialists available to handle your product and service needs. $600reduction in the origination feeFootnote 6 on a new Bank of America purchase or refinance mortgage 0.375%interest rate discountFootnote 7 on a new Bank of America home equity line of credit 0.50%interest rate discount on a new Bank of America auto purchase or refinance loanFootnote 8 No monthly maintenance fees on up to 4 eligible checking and 4 savings accounts from Bank of America No fees on select services, including standard check orders, cashier's checks, stop payments and more layer information on no-fee banking services for Platinum Honors tierFootnote 9

Interest rate booster example

If the interest rate on a Rewards Money Market Savings account is 1.00%, a 5% rate booster would increase the interest rate to 1.05%

Rates shown are for illustration only. For current rates, view our Rewards Money Market Savings rates.

Interest rate booster example

If the interest rate on a Rewards Money Market Savings account is 1.00%, a 10% rate booster would increase the interest rate to 1.10%

Rates shown are for illustration only. For current rates, view our Rewards Money Market Savings rates.

Interest rate booster example

If the interest rate on a Rewards Money Market Savings account is 1.00%, a 20% rate booster would increase the interest rate to 1.20%

Rates shown are for illustration only. For current rates, view our Rewards Money Market Savings rates.

Additional no-fee services

Preferred Rewards Gold tier clients enjoy:
- No fees on ATM or debit card replacement including rush replacement, standard check orders, cashier's checks, Check Image Service, check copies, stop payments and incoming domestic wire transfers
- Overdraft Protection transfer fees waived from your linked savings accounts, secondary checking accounts or from a Home Equity Line of Credit
- See the Personal Schedule of Fees for more information.

Additional no-fee services

Preferred Rewards Platinum tier clients enjoy:
- No fees on ATM or debit card replacement including rush replacement, standard check orders, cashier's checks, Check Image Service, check copies, stop payments, incoming domestic and international wire transfers, and a small safe deposit box
- Overdraft Protection transfer fees waived from your linked savings accounts, secondary checking accounts or from a Home Equity Line of Credit
- See the Personal Schedule of Fees for more information.

Additional no-fee services

Preferred Rewards Platinum Honors tier clients enjoy:
- No fees on ATM or debit card replacement including rush replacement, standard check orders, cashier's checks, Check Image Service, check copies, stop payments, incoming domestic and international wire transfers, and a small safe deposit box
- Overdraft Protection transfer fees waived from your linked savings accounts, secondary checking accounts or from a Home Equity Line of Credit
- See the Personal Schedule of Fees for more information.

Card eligibility guidelines

Most Bank of America® branded consumer credit cards (such as the BankAmericard Cash Rewards™ credit card and the BankAmericard Travel Rewards® credit card) are eligible to receive the Preferred Rewards bonus as long as the card account is open and in good standing.  The Preferred Rewards bonus will replace the customer bonus you may already receive with the card.

Cards not eligible for the rewards bonus:

  • Non-rewards credit cards
  • Business purpose credit cards
  • Bank of America Accolades®
  • BankAmericard Better Balance Rewards®
  • Merrill Lynch branded (including Merrill Accolades®, MERRILL+®, Merrill Lynch® Octave® and Private Banking and Investment Group Octave®)
  • U.S. Trust branded (including Bank of America Accolades® and U.S. Trust® Octave®)
  • AAA® Gas Rebate
  • Alaska Airlines®
  • Allegiant World MasterCard®
  • Amtrak Guest Rewards®
  • Amway™
  • Asiana Airlines®
  • Azamara Club Cruises®
  • Bass Pro Shops®
  • Celebrity Cruises®
  • MelaleucaSM
  • Royal Caribbean International®
  • Spirit Airlines®
  • Virgin Atlantic Airways®

Your money works hardest when it works together.

That's why we created Preferred Rewards

- a program that rewards you

for the everyday banking that you do

when you have an eligible checking account

and a 3-month average combined balance

of $20,000 or more in your qualifying

Bank of America deposit and/or

Merrill Edge investment accounts.

The great news is that

$20,000 can come from almost anywhere.

It can be transferred from existing accounts

at other banks or investment firms,

from an old 401(k), an IRA, a vacation fund,

or even a rainy day fund.

And a specialist can help with easily transferring

assets by providing assistance at our

financial centers or over the phone.

Of course, the $20,000 can also come

from accounts you already have including

your Merrill Edge investment accounts

and your eligible Bank of America

checking and savings accounts.

So take a look at them all.

Because the average American household

has five bank accounts...

And almost any combination works.

And when you enroll in Preferred Rewards

You can help your money work harder

Allowing you everyday banking benefits

and rewards you'll actually use

Like credit card rewards bonuses

on eligible credit cards,

select no fee banking services,

extra interest

on Rewards Money Market Savings accounts,

and more.

To learn how you could qualify,

talk to a Bank of America employee

To schedule an appointment,

visit bankofamerica.com/schedule

Get used to getting more

with Preferred Rewards from Bank of America.

Play video Replay video Pause video

Enroll in Preferred Rewards

There are no fees to join or participate in Preferred Rewards. Here's all you need to enroll:

Sign in to Online Banking to see if you qualify.

Not an Online Banking Customer?
Don't have a checking account?
Would you like to speak to a Preferred Rewards specialist?
Call 888.888.RWDS (888.888.7937)

Enroll in Preferred Rewards

There are no fees to join or participate in Preferred Rewards. Here's all you need to enroll:

To learn more or enroll today: