Checking Accounts (DDA)
Bank of America’s Advantage Banking suite includes four account types designed for different needs. What are the three types?
What are SafeBalance®, Advantage Plus, Advantage Relationship, and Family Banking?
This is the primary savings account available to Bank of America clients, offering tiered interest and Preferred Rewards enhancements.
What is Advantage Savings?
This rewards card lets clients choose their 3% category and earn up to 6% in the first year.
What is the Customized Cash Rewards credit card?
This type of IRA typically allows for deductions from your income in the tax year the contribution is made, allows for tax free growth, but is taxable as income upon distribution. (penalty free assuming age 59 1/2+)
What is a Traditional IRA?
This promotional CD type typically offers Bank of America’s highest available rates, including a competitive APY on the 7‑month term.
What is a Featured CD?
This checking account is designed for everyday banking with flexibility, offering check‑writing, debit access, overdraft capabilities, and multiple ways to waive the monthly fee but does not earn interest.
What is Advantage Plus Banking?
This automatic program rounds up debit card purchases and transfers the difference into a savings account to build savings effortlessly.
What is Keep the Change®?
This no‑annual‑fee card earns 1.5 points per dollar and is ideal for simple travel rewards.
What is the Bank of America Travel Rewards credit card?
This type of IRA typically allows for NO deductions from your income in the tax year the contribution is made, allows for tax free growth, and is NOT taxable as income upon distribution. (penalty free assuming age 59 1/2+)
What is a Roth IRA?
This CD allows clients to withdraw funds without penalty after the first six days.
What is the Flexible CD?
This top‑tier checking option is designed for clients who maintain higher balances and want premium benefits like interest and broad fee waivers.
What is Advantage Relationship Banking?
Depending on your Preferred Rewards status, how much of a interest rate boost do you receive on your interest rate?
What is Gold 5%, Platinum 10%, Platinum Honors and Diamond Honors 20%?
This card is designed for clients wanting lower interest, offering a 0% introductory APR on purchases and balance transfers for up to 18 statement cycles.
What is the BankAmericard® credit card?
This IRA type uses FDIC‑insured CDs or savings options for stable, low‑risk retirement growth.
What is a CD IRA?
This CD type offers terms ranging from 28 days to 10 years and automatically renews into the same term at maturity.
What is a Fixed Term CD?
What products can you connect to cover overdraft for your checking account?
Savings, Credit Card, HELOC, Secondary Checking
This cash‑back card pays unlimited 1.5% normally — but offers a first‑year bonus that adds 0.5%, giving clients a full 2% cash back on all purchases during their first year.
What is the Bank of America Unlimited Cash Rewards credit card?
This IRA option provides low interest but allows quick access to cash, FDIC protection, and ongoing contributions — ideal for clients wanting liquidity while saving for retirement.
What is a Money Market IRA?