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Preferred Rewards for Business FAQs

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Knowledge is power

Knowledge is power

When you enroll in Preferred Rewards for Business, you’ll receive a welcome kit and program rules – a great resource with detailed information on how the program works. If you aren’t a member yet, or you don’t have your welcome kit handy, that’s ok. Here we address some of the most frequently asked questions about the program.

Need more information? Schedule an appointment to speak with one of our specialists.
When you enroll in Preferred Rewards for Business, you’ll receive a welcome kit and program rules – a great resource with detailed information on how the program works. If you aren’t a member yet, or you don’t have your welcome kit handy, that’s ok. Here we address some of the most frequently asked questions about the program.

Need more information? Schedule an appointment to speak with one of our specialists

Preferred Rewards for Business frequently asked questions

What is Preferred Rewards for Business?

Preferred Rewards for Business rewards you for the business you do with a wide range of benefits across your business banking relationship. There is no fee to join or participate. And as your qualifying balances grow, so do your benefits.

There are 3 tiers in the program: Gold, Platinum and Platinum Honors. Your tier is based on your qualifying combined balances in your Bank of America® business deposit and/or Merrill® business investment accounts. View rewards and benefits by tier

Once you’re a member, you’ll automatically move to a higher tier after any month when your account balances qualify you for the next level of rewards. Don’t worry if your balances dip temporarily: Your balances are reviewed annually to determine whether you’ll move to a lower tier.

Refer to the Preferred Rewards for Business section of the Business Schedule of Fees for qualifying accounts.

How do I qualify?
How can I become a program member?
Do I need to open new accounts to take advantage of the benefits?
How can I move to a higher rewards tier?
How do I maintain my program status once I become a member?

Become a Preferred Rewards for Business member

There’s no fee to join or participate in the program. Here’s all you need to become a member:

  • An active, eligible Bank of America business checking account
  • A 3-month combined average daily balance of $20,000 or more in qualifying Bank of America business deposit accounts and/or Merrill® business investment accounts

Get started now

Become a Preferred Rewards for Business member

There’s no fee to join or participate in the program. Here’s all you need to become a member:

  • An active, eligible Bank of America business checking account
  • A 3-month combined average daily balance of $20,000 or more in qualifying Bank of America business deposit accounts and/or Merrill® business investment accounts

Log in to Online Banking to see if you qualify »


Speak with a Small Business Specialist to get started today

Schedule an appointment now or call 888.BUSINESS (888.287.4637)

Not an Online Banking Customer?

Enroll in Online Banking »

Don’t have a business checking account?

Learn more about business checking »


. Sell trades are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principle. There are costs associated with owning ETFs. To learn more about Merrill pricing, visit merrilledge.com/pricing.