3 Million+ Clients Enroll in New BofA Rewards™ Program in First Seven Weeks
Bank of America (NYSE: BAC) reports that more than 3 million clients enrolled in its new no-fee BofA Rewards™ loyalty program in the first seven weeks since launch on May 27, 2026, contributing to nearly 14 million total enrolled clients.
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Rhea-AI Summary
Bank of America (NYSE: BAC) reports that more than 3 million clients enrolled in its new no-fee BofA Rewards™ loyalty program in the first seven weeks since launch on May 27, 2026, contributing to nearly 14 million total enrolled clients. The program is open to any client with an eligible personal checking account and does not require a minimum balance to join.
According to Bank of America, members can receive an estimated $150 to $4,000 in annual value, depending on tier and engagement, through credit card reward bonuses, cash back Deals at more than 15,000 merchants, banking and lending benefits, and enhanced fraud and identity monitoring. About 80% of new enrollments occur via online or mobile banking, and roughly 17,000 new weekly members are new-to-bank clients.
Positive
- 3 million+ clients enrolled in seven weeks from May 27, 2026
- Total BofA Rewards membership reaches nearly 14 million clients
- Members can receive an estimated $150–$4,000 in annual value
- Roughly 17,000 new members per week are new Bank of America clients
- About 80% of new enrollments come via digital banking channels
- Deals network covers 15,000+ national and local merchants
Negative
- None.
News Explained
Bank of America says its already-launched BofA Rewards program is expanding eligibility to
Details
News Market Reaction – BAC
On Jul 21, the day this news came out, BAC closed 1.32% above the previous close.
Data tracked by StockTitan Argus for the Jul 21 session.
Key Figures
- New enrollments
- More than 3 million clients
- Since program launch on May 27, 2026
- Expanded eligibility
- 30 million more clients
- BofA Rewards program expansion
- Merchant offers
- More than 15,000 merchants
- National and local cash back deals and discounts
- New-client enrollment rate
- Approximately 17,000 new members per week
- New Bank of America clients joining the program
- Deals engagement
- Nearly 1 million clients
- Engaged with Deals during the last seven weeks
- Retail engagement
- 45%
- Share of client engagement with Deals
- Annual member value
- $150 to $4,000
- Estimated annual value by membership tier and engagement
- Total enrollment
- Nearly 14 million clients
- Currently enrolled in BofA Rewards
Historical Context
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Announced redemption of $6.15 billion in floating-rate and fixed/floating-rate senior notes.
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Released second-quarter 2026 results and scheduled an investor conference call.
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Added nine senior hires across regional investment banking coverage in U.S. markets.
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Announced redemption of $2.6 billion in senior bank notes due August 2026.
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Merrill Managed Account Advisors surpassed $1 trillion in client assets.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Expansion of no fee loyalty program offers rewards to 30 million more Bank of America clients
Key points
- BofA Rewards program sees surge in new members since launching May 27, 2026.
- Members in the no fee[1] loyalty program are uniquely rewarded for their full relationship.
- Member benefits include credit card reward bonuses, cash back deals and discounts from more than 15,000 national and local merchants, enhanced fraud and identity monitoring features, subscription credits, curated lifestyle experiences, and more.
"The response to BofA Rewards has been tremendous. More than 3 million enrollments in seven weeks tells us the program is resonating with clients who enjoy being rewarded for their full relationship," said Mary Hines Droesch, Head of Consumer and Small Business Products & Analytics at Bank of America. "Whether it's cash back offers, enhanced rewards or exclusive benefits, BofA Rewards is designed to deliver value in ways that are meaningful, easy to use, and tailored to how people live their everyday financial lives."
BofA Rewards features expanded benefits designed to help clients get more from their relationship with Bank of America. Benefits include credit card reward bonuses; cash back deals and discounts from more than 15,000 national and local merchants; banking and lending benefits; and enhanced fraud and identity monitoring features. Members in higher tiers also have access to subscription credits and curated lifestyle experiences.
Since launch, new and existing clients have embraced the program and are increasingly engaging with its many benefits:
- Approximately 17,000 new members joining the program each week are new Bank of America clients.
- Nearly 1 million clients have engaged with Deals, generating millions in cash back over the last seven weeks.
- Deals on retail (
45% of client engagement), gasoline (20% ), entertainment (18% ) and food (10% ) are driving the greatest amount of activity, with offers at places like CVS, Shell Gasoline, Little Caesars, and Macy's seeing some of the strongest traction. - All Bank of America clients have access to Deals, with members of BofA Rewards receiving additional deals and discounts.
- Deals on retail (
Depending on a client's membership tier and engagement, members can receive an estimated
About
Frequently asked questions
Question: How is BofA Rewards different from Preferred Rewards?
Answer: BofA Rewards expands eligibility to millions more clients by allowing anyone with an eligible Bank of America personal checking account to enroll regardless of account balance. The program also introduces a redesigned digital experience and expanded benefits, including 15,000 cash back deals and discounts, enhanced fraud and identity monitoring features, subscription credits, curated lifestyle experiences for eligible members, and more.
Question: Is there a minimum balance required to enroll in BofA Rewards?
Answer: No. Any client with an eligible Bank of America personal checking account can enroll in BofA Rewards at no cost, making rewards and benefits available to millions more clients.
Question: Does Bank of America plan to expand and add new benefits?
Answer: Yes. Bank of America will continue evaluating opportunities to add new offers, experiences and benefits to help members get more value from their relationship with the company.
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries and/or jurisdictions. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
Reporters may contact
Carolyn Batt, Bank of America
Phone: 1.646.983.1369
carolyn.batt@bofa.com
MAP #9026295
Footnotes
[1] To participate, you just need an eligible Bank of America checking account. Checking accounts may have a monthly maintenance fee if waiver requirements are not met.
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SOURCE Bank of America Corporation
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