![]() TBSZ accounts offer Hungarian tax residents an attractive opportunity to enjoy substantial tax reductions on their investments. This will empower investors to make the most of their wealth-building efforts. Interactive Brokers IBKR unveiled a game-changing feature for Hungarian investors - Tax-Beneficial Savings (“TBSZ”) accounts. Restructuring Efforts by Other Finance Firms You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. In the past six months, shares of BAC have gained 1.4% compared with the industry’s rise of 5.5%.Ĭurrently, BAC carries a Zacks Rank #3 (Hold). These initiatives will likely enable BAC to improve digital offerings and cross-sell several products. Over the past three years, the company has been renovating and updating its existing financial centers across the country. Moreover, it is committed to providing modern and state-of-the-art financial centers through its ongoing renovation and modernization projects. By 2026, it plans to expand its financial center network into nine new markets. Also, the company is set to embark on an ambitious expansion plan to open financial centers in new and existing markets. ![]() Since 2015, the program has helped clients direct more than $15 billion in excess change to savings accounts.īAC continues to spend on technological advancements. This tool helps clients build savings by automatically depositing spare change from rounded-up debit card transactions into a savings account. ![]() By 2025, the bank expects to help more than 60,000 individuals purchase homes.īofA’s product suite also has a “Keep the Change” feature. In terms of providing affordable home loans, in 2019, BofA launched the Community Homeownership Commitment, which has helped more than 42,000 low and moderate-income homebuyers achieve homeownership through low down payment loans and down payment, and closing cost grants. With this, clients can navigate unexpected expenses while strengthening their credit.īalance Connect provides overdraft protection through the ability for clients to link up to five accounts to their checking accounts while increasing simplicity and accessibility through digital sign-up and management. The repayments are made in three equal monthly installments over a 90-day period. These offerings are a combination of transparent, easy-to-use products, helping clients budget, save, spend and borrow carefully and confidently.īalance Assist is a low-cost way to manage clients’ short-term liquidity needs, as clients can borrow only the amount they need, up to $500 (in increments of $100) for a $5 flat fee. Notably, SafeBalance is part of BofA’s suite of product offerings, which include Balance Assist, Balance Connect, Secured Credit Cards and Affordable Home Loans. Mary Hines Droesch, the head of consumer and small business products at BAC, stated, “This milestone reflects our commitment to providing simple and transparent solutions to our clients at every stage of their financial journey, and to helping them achieve financial wellness.” Meeting the standards for safe and affordable bank accounts, SafeBalance represents more than 50% of new checking account openings. With more than 5 million accounts, SafeBalance was created in 2014. SafeBalance is an easy-to-use account that helps clients manage day-to-day finances with no overdraft fees. The Preferred Rewards clients will also continue to have their monthly fee waived. Previously, clients had to be enrolled in school to qualify for the fee waiver. Moreover, accounts with an owner under the age of 25 will have the fee waived, regardless of the daily balance. From this November, accounts with a minimum daily balance of $500 or more will have the $4.95 monthly fee waived. Bank of America Corporation BAC has planned to expand the monthly maintenance fee waiver for the SafeBalance account.
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