Manage your cash flows, maintain liquidity, and earn competitive yields on your everyday cash holdings — And get rewarded for it.
Taking control of your spending and savings now can open up more possible paths to achieving your goals later. Checking, Savings from Bank of America® and Cash Management solutions from Merrill can help.
We are committed to helping you achieve your goals — both short-term and long-term. To help, Bank of America offers banking solutions that support a variety of everyday cash flow needs and savings goals — all that work seamlessly with your Merrill investing accounts.
Bank of America® Advantage Relationship Banking® for Wealth Management2
Bank of America checking solutions are available through your Merrill Private Wealth Advisor. This account type offers:
- The higher your balance the more you could potentially earn
- No monthly maintenance fee if monthly minimum balance is met or you are a Bank of America Preferred Rewards® member3 using one of the four or more checking monthly maintenance fee waivers available as a member
- Discounts and waivers on select banking services
- Tiered rates, based on balances
- Fraud protection through text and email alerts
- FDIC coverage up to applicable limits
- Chip card technology embedded for extra protection for debit cards when used at terminals or ATMs that are chip-enabled
- Convenient access from almost anywhere with Bank of America Mobile & Online Banking4
Bank of America also offers a range of other checking account options that you may want to consider.
Wealth Management Money Market Savings5
Bank of America savings solutions are available through your Merrill Private Wealth Advisor. This account type offers:
- No minimum opening deposit requirement when linked to a Bank of America Advantage Relationship Banking® for Wealth Management account.6
- No monthly maintenance fee if monthly minimum balance is met or you are a Bank of America Preferred Rewards® member using one of the four or more checking monthly maintenance fee waivers available as a member or if linked to a Bank of America Relationship Banking® for Wealth Management account or a Bank of America Advantage Relationship Banking Account
- The higher your balance, the more you could potentially earn
- Tiered rates offering high yield on higher balances
- FDIC coverage up to applicable limits
- Real-time funds transfer between your Wealth Management Money Market Savings account and eligible, linked Merrill investment accounts online, using Bank of America Mobile or Online Banking, MyMerrill.com, the MyMerrill Mobile App or a Bank of America ATM
- Ability to deposit funds using the mobile check deposit7 feature on the Bank of America mobile app and use the account as Balance Connect®8 for overdraft protection source for eligible linked accounts
- Easy access to savings via ATMs, financial centers and Bank of America Mobile & Online Banking
- Even more rewarding. Through the Bank of America Preferred Rewards program3, you can receive additional benefits including:
- Up to four eligible checking and four savings accounts with no monthly maintenance fee
- Platinum Honors, Diamond and Diamond Honors tier members enjoy unlimited no-fee ATM transactions at non-Bank of America ATMs throughout the U.S.
- Up to 75% Rewards Bonus on purchases with eligible Bank of America credit cards9
Bank of America also offers a range of Certificates of Deposit for clients seeking a predictable return for a term and principal protection. CDs auto renew and are available with terms ranging from 7 days to 10 years. Early withdrawal penalties may apply.
Merrill Cash Management Account® (CMA®)10
The convenience of cash management and investment services in one account from Merrill to manage everyday financial needs and support long-term investment goals. This account offers:
- Access to a broad range of investment products and services and other FDIC-insured products.
- Convenience of being able to manage everyday cash and investments — all in a single account
Benefits and rewards built around you
The Bank of America Preferred Rewards® program3 benefits are designed to help you save, spend, and borrow with Bank of America, and invest with Merrill and Bank of America Private Bank. There is no fee to join or participate. You just need an active, eligible Bank of America checking account and to maintain qualifying combined balances in your eligible Bank of America deposit accounts, Merrill investment accounts, and/or Bank of America Private Bank accounts.
Connect with a Merrill Private Wealth Advisor.
Related Solutions
1 Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC, and wholly owned subsidiaries of BofA Corp.
2 Checking account name is Bank of America Advantage Relationship Banking® for Wealth Management. Available to clients with total assets of $250,000+ (assets defined as deposits at Bank of America, N.A., and/or investment accounts at Merrill).
3 Preferred Rewards Program Eligibility. You can enroll, and maintain your membership, in the Bank of America Preferred Rewards® program if you have an active, eligible personal checking account with Bank of America® and maintain the balance required for one of the balance tiers. The balance tiers are $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. Balances include your combined, qualifying Bank of America deposit accounts (such as checking, savings, certificate of deposit) and/or your qualifying Merrill investment accounts (such as Cash Management Accounts, 529 Plans). You can satisfy the combined balance requirement for enrollment with either:
1. a three-month combined average daily balance in your qualifying deposit and investment accounts, or
2. 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.
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. Bank of America Private Bank clients qualify to enroll in the Diamond tier regardless of balance and may qualify for the Diamond Honors tier based on their qualifying Bank of America, Merrill and Private Bank balances. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. For details on Bank of America employee qualification requirements, please call Employee Financial Services or refer to the Bank of America intranet site. Employees of companies participating in the Bank of America Employee Banking and Investing Program may be eligible to participate on customized terms. Refer to CEBI Program for details.
4 Mobile Banking. Mobile Banking requires that you download the Mobile Banking app and is only available for select mobile devices. Messages and data rates may apply.
5 Wealth Management Money Market Savings is a variable rate account. The rates may change after the account is opened. Fees may reduce earnings. The minimum deposit required to open a Wealth Management Money Market Savings account is $1,000. For information on current interest rates, contact your Merrill advisor.
6 Minimum opening deposit amount is $25, unless your account is linked to a Bank of America Advantage Relationship Banking for Wealth Management account, in which case there is no minimum. Checking account name is Bank of America Advantage Relationship Banking for Wealth Management. Available to clients with total assets of $250,000+ (assets defined as deposits at Bank of America, N.A., and/or investment accounts at Merrill). Fees apply to wires and certain transfers. See the Online Banking Service Agreement at bankofamerica.com/serviceagreement for details. Data connection required for online and mobile transfers. Wireless carrier fees may apply.
7 Mobile check deposits are subject to verification and not available for immediate withdrawal. Other restrictions apply. In the Mobile Banking app menu, select Menu> Help> Browse More Topics> Mobile Check Deposit for details and other terms and conditions. Messages and data rates may apply.
8 Balance Connect® for overdraft protection allows you to link your eligible checking account with up to 5 eligible Bank of America accounts for overdraft protection. This optional service can help you cover your payments and purchases and help avoid overdrafts and overdraft fees by automatically transferring available funds from your linked backup account(s) when needed. If your linked backup account does not have enough available funds to cover the necessary amount, we may decline to make the transfer. Transfers from a linked (1) brokerage account with Merrill Lynch that is enrolled in margin lending, (2) Loan Management Account (LMA®), (3) credit card, or (4) HELOC are subject to interest charges. Please see your account agreement(s) for additional details. Balance Connect® is not available with SafeBalance Banking® as a covered or linked backup account. Balance Connect® is available on Advantage Savings as a linked backup account, but not eligible to be enrolled as a covered account.
9 Credit Card Preferred Rewards Bonus. 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 card receives the 10% customer bonus, the Preferred Rewards bonus will replace the 10% customer bonus. You will not receive the Preferred Rewards bonus when you redeem your cash rewards or points. 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. Refer to bankofamerica.com/preferred-rewards for a complete list of ineligible cards.
10 The CMA account is a securities account with Merrill Lynch, Pierce, Fenner & Smith Incorporated. The account provides access to services and products offered by licensed banks, including checking and FDIC-insured deposits that are held at the banks. Securities, mutual funds and other non-deposit investment products available through the account are not FDIC-insured, not guaranteed by a bank and may lose value.
Merrill, the Bull Symbol, Cash Management Account, CMA, Bank of America Preferred Rewards, Bank of America Advantage Relationship banking, Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation.