The most common is a transfer. MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of BofA Corp. Merrill Lynch makes available products and services offered by MLPF&S and other subsidiaries of BofA Corporation. Merrill can help you find what may best fit your needs: rolling it over to an IRA, maintaining it in a 401(k) with a new or former employer or cashing out. If you qualify, you can immediately enroll and start taking advantage of its benefits. Your tier is based on your qualifying combined balances in your Bank of America deposit and/or Merrill … Member FDIC. Receive direct deposits of … The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. That includes IRAs. Merrill Lynch® clients with an active, eligible Bank of America® personal checking account and a three-month combined average daily balance of at least $20,000 can enroll in Preferred Rewards. IRS rules limit you to 1 rollover per client per 12-month period. What is Bank of America Preferred Rewards? To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs. Become a Bank of America Preferred Rewards customer. © 2020 Bank of America Corporation. When you move to a higher tier, you can earn more, save more and get more back — including extra interest on a Bank of America Advantage Savings account and a bigger rewards bonus on eligible Bank of America® credit cards. For details on employee qualification requirements, please visit the Employee Financial Services intranet site. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. The most enticing feature is this: Up to a 75% bonus on all credit card rewards you earn. Note: Students under 24 have this fee waived. With that said, the benefits of Bank of America’s Preferred Rewards Program are rather wide-ranging in nature. Bank of America has a very unique rewards program for both their Bank of America and Merrill Lynch account holders. Calculate your potential benefits and rewards Easily see the benefits and rewards you get with the Preferred Rewards for Business program. Most Bank of America® branded consumer credit cards (such as the Cash Rewards, Travel Rewards and Premium Rewards® credit cards) are eligible to receive the Preferred Rewards bonus, as long as the card account is open with active charging privileges. Please speak with your Merrill Lynch financial advisor or Bank of America Private Bank advisor for more information. If you prefer that we do not use this information, you may opt out of online behavioral advertising. Bank of America® Premium Rewards® credit card. Merrill Lynch® clients with an active, eligible Bank of America® personal checking account and a three-month combined average daily balance of at least $20,000 can enroll in Preferred Rewards. Preferred Rewards Platinum Honors tier members enjoy:- No fees on ATM or debit card replacement including rush replacement, standard check orders, cashier's checks, Check Image Service, check copies, incoming domestic and international wire transfers, and a small safe deposit box- Overdraft Protection transfer fees waived from your linked savings accounts, secondary checking accounts or from a Home Equity Line of Credit- See the Personal Schedule of Fees for more information. Get more rewards with your everyday banking®, Calculate your Preferred Rewards potential, If you qualify, you receive an automatic tier upgrade, You have choices for what to do with your employer sponsored retirement plan. For example, your annual program fee for your Merrill Guided Investing™ account could go from 0.45% to 0.40%. Programs, rates, terms and conditions are subject to change without notice. Bank of America Preferred Rewards is made to get casual Bank of America customers to convert into a loyal customer. Most Bank of America® branded consumer credit cards (such as the Cash Rewards, Travel Rewards and Premium Rewards® credit cards) are eligible to receive the Preferred Rewards bonus, as long as the card account is open with active charging privileges. Refer to your Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Bank of America sent out an email to Preferred Rewards members that they are temporarily postponing the review process on Preferred Rewards status. There are three tiers in the Preferred Rewards program – Gold, Platinum and Platinum Honors. 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