The Offer
Bank of America is sending out the following email offer to select users:
- Deposit $10,000+ in new money within 30 days of enrollment, and receive an increased interest rate of between 1.10% and 2.00%, depending on deposit amount. See tiers in image below.
The Fine Print
- New money is money not currently or previously held in any account at Bank of America, Merrill Lynch® and/or Merrill Edge®.
- This offer is only available to select Bank of America customers who receive this offer via a direct communication from Bank of America.
- Fiduciary accounts (e.g., trust accounts) are excluded.
- Offer expires on August 8, 2019.
- Bank of America may change or discontinue this offer at any time without notice before that date.
Our Verdict
A few readers sent this one in recently. It really doesn’t make much sense at all since you could earn more with a high-yield savings account. I guess some might do it for the purpose of Bank of America Preferred Rewards status, but honestly it’s probably not the best route to do that.
