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Preferred Rewards for Business FAQs

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Get more rewards with  
everyday banking™

Get more rewards with everyday banking™

There are 3 tiers in Preferred Rewards for Business. Your tier is based on your 3-month average combined daily balances in your qualifying Bank of America® business deposit and/or your Merrill business investment accounts.

When you are enrolled, you’ll be moved up 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 until the next anniversary of your program enrollment
There are 3 tiers in Preferred Rewards for Business. Your tier is based on your 3-month average combined daily balances in your qualifying Bank of America® business deposit and/or your Merrill business investment accounts.

When you are enrolled, you’ll be moved up 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 until the next anniversary of your program enrollment

Preferred Rewards for Business Frequently Asked Questions

Bank of America Preferred Rewards for Business offers real benefits and rewards on your everyday business banking. And as your qualifying Bank of America® business deposit accounts and/or Merrill business investment balances grow, so do your benefits.

There are 3 tiers in the program: Gold, Platinum and Platinum Honors. The tier that your business qualifies for depends on your combined balances in your Bank of America business deposit accounts and/or Merrill business investment accounts. And, no need to worry if your balances dip now and then. Once you reach a rewards tier, you'll keep your program benefits until the next anniversary of your enrollment. View rewards and benefits by tiers

Preferred Rewards for Business is available to Bank of America® Small Business, Merrill Small Business, and Private Bank Small Business clients. To qualify, all you need is an active eligible Bank of America business checking account and a 3-month average combined daily balance of at least $20,000 in qualifying Bank of America business deposit accounts and/or Merrill business investment accounts.

You simply have to qualify and enroll. To qualify, you need an eligible business checking account and a minimum $20,000 3-month average combined daily balance in your Bank of America® business deposit accounts and/or Merrill business investment accounts.

Sign in to Online Banking to find out if you’re eligible to enroll.

There are no fees to join or participate. And once you’re a member, as your business balances qualify you for the next level of rewards, we’ll move you up.

It depends on what types of accounts you have. After you enroll, some benefits may require you to change your account type or open a new account in order to receive all the benefits. Here are a few examples:

  • If you already have a Business Advantage Savings account, you’ll automatically receive the interest rate booster
  • If you already have an eligible Business Advantage credit card, you’ll automatically receive the rewards bonus

If you’d like to convert an existing savings account or open a new account that’s eligible for the rewards bonus, please call 888.BUSINESS.

As a member, you can move to a higher rewards tier and enjoy more benefits and rewards once you increase your 3-month average combined daily balance in your qualifying Bank of America® business deposit accounts and Merrill business investment accounts to the threshold for the next tier. The minimum balance requirements are $20,000 for the Gold tier, $50,000 for the Platinum tier, and $100,000 for the Platinum Honors tier. We’ll review your qualifying balances monthly, and when you reach a higher tier you’ll be moved up. And, no need to worry if your balances dip now and then. Once you reach a rewards tier, you'll keep your program benefits until the next anniversary of your enrollment. View rewards and benefits by tier

The minimum 3-month average combined daily balance requirements are $20,000 for the Gold tier, $50,000 for the Platinum tier, and $100,000 for the Platinum Honors tier.

You’ll maintain your program status for 12 months following your enrollment. After 12 months, if you no longer meet the eligible business checking account and/or balance requirements, you’ll have a 3-month grace period. After that, if you still haven’t met the balance requirement, you’ll be moved to a lower benefit tier or lose your benefits entirely if you are below the Gold tier level. If you haven’t met the eligible business checking account requirement, you will lose your benefits entirely.

Enroll in Preferred Rewards for Business

Take advantage of a wide range of benefits that grow as your business and your balances grow.

  • No fees on select services (including cashier’s checks, overdraft protection transfers from deposit accounts, stop payments and more)
  • Rewards Bonus on eligible business credit cards
  • Interest rate booster on a Business Advantage Savings account

Sign in to Online Banking to see if you qualify

Sign in

Enroll in Preferred Rewards for Business

Take advantage of a wide range of benefits that grow as your business and your balances grow.

  • No fees on select services (including cashier’s checks, overdraft protection transfers from deposit accounts, stop payments and more)
  • Rewards Bonus on eligible business credit cards
  • Interest rate booster on a Business Advantage Savings account

Sign 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 »


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