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Discover your benefits and rewards

There are 3 tiers in Preferred Rewards. Your tier is based on your qualifying combined balances in your Bank of America® banking and/or Merrill Edge® and Merrill Lynch® investment accounts. As your qualifying balances grow, so do your benefits. Once enrolled, we'll move you up automatically when your balances qualify you for the next rewards tier.

Explore the benefits you could receive as a Preferred Rewards client.

Preferred Rewards gives you benefits based on the balances in your Bank of America® banking and Merrill Edge® investment accounts. Learn more and then simply enroll in Preferred Rewards.

Explore the benefits

Displayed benefits are for the following amount:
Display Gold tier content Display Platinum tier content Display Platinum Honors tier content
Platinum Honors
Gold $20,000 – $50,000
Platinum $50,000 – $100,000
Platinum Honors $100,000+
3-month average combined balance

  • Earn more for every dollar you save

    An interest rate booster on a Rewards Money Market Savings account.Footnote1

    For example, if the interest rate on a Rewards Money Market Savings account is 1.00%, a 5%5%10%20% rate booster would increase the interest rate to 1.05%1.05%1.10%1.20%. This interest rate is for illustration only. Visit the Rewards Money Market Savings page on for current rates.

    5% interest rate booster
    10% interest rate booster
    Platinum Honors
    20% interest rate booster
  • A rewards bonus on eligible Bank of America credit cards.Footnote 2

    Eligible credit cards earn a 25%, 50% or 75% rewards bonus.

    For example, if you have a cash back credit card and you redeem $100 into a Bank of America checking or savings account, your total cash back would increase to $125$125$150$175.

    Review card eligibility guidelines

    25% rewards bonus
    50% rewards bonus
    Platinum Honors
    75% rewards bonus
  • Non-Bank of America ATM transactions when you need them

    No-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. Footnote3

    up to 12/year (1 withdrawal, balance inquiry and balance transfer each per statement cycle)
    Platinum Honors
  • Preferred pricing with Merrill Edge

    $0 online equity and ETF trades Footnote4 with a Merrill Edge online investment account.

    Link to Merrill Edge Fees pageOther fees may apply.

    Plus, get access to Merrill Edge MarketPro®, a fully customizable trading platform5.

    up to 30 per month

    Plus Merrill Edge MarketPro®
    Platinum Honors
    up to 100 per month

    Plus Merrill Edge MarketPro®
  • The fast track for client service

    Priority service through the Preferred Rewards Center, a dedicated team of specialists available to handle product and service needs.

  • Preferred Rewards mortgage benefits

    Save at closing on a new Bank of America purchase or refinance mortgage with a reduction in the Origination Fee, based on your Preferred Rewards tier.

    Platinum Honors
  • Drive away with an interest rate discount

    Want to get an even better rate? As a Preferred Rewards client, you can receive a 0.25%, 0.35% or 0.50% interest rate discount on a new Bank of America auto purchase or refinance loan.

    Platinum Honors
  • Banking made better with no-fee services

    Enjoy fee waivers on everyday services for Bank of America personal checking and savings accounts:

    • Monthly maintenance fees waived on up to 4 eligible checking and 4 savings accounts from Bank of America
    • No fees for 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.

    Platinum and Platinum Honors tier clients also enjoy:

    • No fees for incoming international wire transfers and a small safe deposit box

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:

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,


Get used to getting more

with Preferred Rewards from Bank of America.

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