The Bank of America Advantage Relationship Banking Account is a type of checking account offered by Bank of America that provides various benefits and features to customers who maintain higher account balances or meet certain requirements.
Some key features of the Advantage Relationship Banking Account may include:
Preferred Interest Rates:
Customers with an Advantage Relationship Banking Account may be eligible for higher interest rates on their account balances, providing an opportunity to earn more on their savings.
Fee Waivers:
The account may waive certain monthly maintenance fees or other transaction fees for customers who meet specific balance requirements or have linked accounts with Bank of America.
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Enhanced Rewards:
Customers may have access to enhanced rewards programs, such as the Bank of America Preferred Rewards program, which offers benefits like cash back, bonus rewards, or fee discounts on select Bank of America products and services.
Relationship Rewards:
The Advantage Relationship Banking Account may provide customers with additional perks based on their overall relationship with Bank of America, such as discounted mortgage rates, reduced fees on loans, or priority customer service.
Overdraft Protection:
Customers may have the option to link their Advantage Relationship Banking Account to a Bank of America savings account or credit line for overdraft protection, which can help prevent overdraft fees and provide peace of mind.
Online and Mobile Banking:
Like other Bank of America accounts, the Advantage Relationship Banking Account offers convenient online and mobile banking services, including bill pay, mobile check deposit, and person-to-person transfers.
It’s important to review the specific terms and conditions of the Bank of America Advantage Relationship Banking Account, as eligibility requirements, fees, and benefits may vary depending on the customer’s location and account activity.
How to Open a Bank of America Advantage Relationship Banking Account
To open a Bank of America Advantage Relationship Banking Account, you can follow these general steps:
Gather Required Documents and Information:
You will need to provide personal information such as your name, date of birth, Social Security number, contact information, and employment details. You may also need to provide proof of address, identification (such as a driver’s license or passport), and other documentation as requested by Bank of America.
Choose the Type of Account:
Determine which type of Bank of America Advantage Relationship Banking Account you want to open. Bank of America offers different types of checking accounts with varying features, so review the account options and select the one that best fits your needs.
Visit Bank of America’s Website or a Branch:
You can apply for a Bank of America Advantage Relationship Banking Account online by visiting Bank of America’s website or by visiting a local Bank of America branch in person. Choose the method that is most convenient for you.
Complete the Application:
Provide the required information on the application form, including your personal details, employment information, and any other requested information. Be sure to review the application carefully to ensure that all information is accurate and complete.
Review and Accept Terms and Conditions:
Carefully review the terms and conditions associated with the Bank of America Advantage Relationship Banking Account, including any fees, account requirements, and other important information. If you agree to the terms and conditions, indicate your acceptance.
Fund Your Account:
If opening the account online, you may be required to fund your account by transferring money from another bank account, setting up a direct deposit, or depositing a check. If opening the account in person at a branch, you may be able to provide cash or a check to fund your account.
Review and Confirm Your Application:
Double-check all the information provided in your application before submitting it. Make sure that all details are accurate and complete.
Submit Your Application:
If applying online, follow the prompts to submit your application electronically. If applying in person at a branch, provide your completed application and any required documentation to a Bank of America representative.
Once your application is submitted, Bank of America will review it and notify you of the status of your account opening. If approved, you will receive further instructions on how to access and manage your Bank of America Advantage Relationship Banking Account, including online and mobile banking services.