Bank of America ramps up financial-wellness offerings to employees of its commercial clients

Banks looking to attract new customers have traditionally offered things like toasters or free checks.Now Bank of America Corp. is reporting traction with its offer to waive the $20,000 minimum-balance requirement for access to its Preferred Rewards Gold Tier for employees who enroll in its Employee Banking & Investing program.Bank of America BAC, -2.13% said it has gotten about $10.5 billion in new deposits and investments from first-time and existing customers in the program, which it launched in 2020. T ...