New BofA Rewards™ Program to Reach Millions More Clients with Expanded Benefits

Core Insights - Bank of America is launching the BofA Rewards program, a no-fee loyalty initiative aimed at rewarding clients for their banking and investing relationships, starting May 27, 2026 [1][2] - The program will allow over 30 million clients with an active personal checking account to enroll, offering benefits ranging from $150 to $4,000 annually based on membership tier and engagement [1][2] Group 1: Program Structure - BofA Rewards features four tiers based on a client's three-month average account balance: - Premier tier: $1 million and above - Preferred Honors tier: $100,000 to less than $1 million - Preferred Plus tier: $30,000 to less than $100,000 - Member tier: less than $30,000 [1][2] - The program replaces the existing Preferred Rewards program, which has over 11 million members, and will automatically enroll current members into the new structure [1][2] Group 2: Benefits Offered - Members will receive personalized benefits including enhanced fraud and identity monitoring, exclusive discounts on home and auto loans, and cash back deals from over 15,000 brands [1][2] - Credit card rewards bonuses will range from 10% to 75% on everyday purchases with eligible credit cards [1][2] - Preferred Honors and Premier tier members can receive reimbursement for popular subscriptions, with credits of up to $96 per year for Preferred Honors and up to $180 per year for Premier members [1][2] Group 3: Lifestyle and Digital Experience - The program will provide lifestyle benefits for Preferred Honors and Premier tier members, including curated offers in travel, automotive, food, and entertainment [1][2] - A redesigned digital experience will be available through the Bank of America Mobile App and Online Banking, featuring personalized offers and tier-specific features [1][2]