Bank of America recognized by Disability:IN for third year in a row (2024)

FAQs

Bank of America recognized by Disability:IN for third year in a row? ›

Bank of America earns top score on Disability:IN Disability Equality Index. Bank of America has been named as a leader in supporting people with disabilities.

Additional long-term disability coverage on top of the bank-provided coverage — up to a combined maximum of $360,000 a year. 4 Paid on a post-tax basis. Additional financial protection in the event of a serious accidental injury or death.

Our principles for Accessible Banking

We're committed to treating all individuals with dignity and respect, offering the same or equivalent access to products, services and facilities as is provided to those without disabilities.

Balance Assist®

You must have had a qualified Bank of America checking account for at least one year before applying. (A SafeBalance® account does not qualify).

This likely includes your credit score and credit history, though there is no credit score requirement for Balance Assist. Customers can take out one Balance Assist loan at a time, and you cannot take out more than six Balance Assist loans in a 12-month period.

You'll be treated as retiring under The Bank of America 401(k) Plan if, when your employment ends, you have at least 10 years of vesting service and your age plus years of vesting service equal at least 60. Make the most of what you've accumulated. It's wise to review your options with your personal advisor.

Long-term disability is a good choice for most people because it reduces the risk of financial setbacks if you become disabled. If you don't have coverage, that period with no income could make it hard to pay bills, support your family, and save for retirement.

Similarly, traits such as irritability, chronic lateness, and poor judgment are not, in themselves, mental impairments, although they may be linked to mental impairments. Broken limbs, sprains, concussions, appendicitis, common colds, or influenza generally would not be disabilities.

Under ADA Title III, businesses classified as “public accommodations” must ensure that they are fully accessible to everyone, regardless of ability. These include (but aren't limited to) hospitals, real estate agencies, retail stores, colleges, many small businesses, and, of course, banks.

The allowance for doubtful accounts (ADA) acts as a financial safety net, preparing your business for potential bad debts and ensuring smooth operations.

Does Bank of America have a hardship program? ›

To inquire about and enroll in a credit card hardship program, contact your credit card issuer and ask if they offer one. “Many major credit card issuers, including Chase, Citibank, Bank of America and American Express, offer these programs,” Morgan says.

What Credit Score Do You Need? Bank of America does not mention a minimum credit score to qualify for Balance Assist, but a credit check is part of the evaluation for eligibility. If your credit history is limited, your relationship with Bank of America will be factored into the approval decision.

The primary reasons people can't open a bank account are negative items on a ChexSystems or Early Warning Services report, errors on the reports or bad credit. If your bank account application is denied, find out why.

Bank of America $300 Checking Bonus Requirements

Initial Deposit – You'll need to deposit $2,500 or more into your new account within 90 days of opening it. This establishes your minimum balance. Maintain Balance – Keep an average daily balance at or above $2,500 for the full 90 day period.

Bank of America usually increases credit limits no more than once every six months.

Unlike many banks, Bank of America does not offer personal loans. It has quite a few credit card options — and a small loan for unexpected expenses — but you will need to look elsewhere if you want to borrow a large personal loan.

Long-Term Disability (LTD) can be used following Short-Term Disability (STD) plans or alone. Long-Term Disability coverage provides wage replacement that is between 50-70% percent of your earnings before a non-work-related injury or illness that impacts your ability to work.

Twenty-six weeks of parental leave — 16 weeks of which are fully paid for eligible teammates. Additionally, we offer a variety of other leave options, including personal, medical and military leaves. Full-time teammates are also eligible for 20 days of paid bereavement leave after losing a spouse, partner or child.

Buy-up LTD insurance offers you the opportunity to choose one of two levels of LTD coverage. The Base LTD Plan is fully paid by your employer and provides a basic level of LTD coverage. The Buy-up LTD Plan is paid for by both you and your employer and provides a higher level of LTD coverage.

Analysts seem to be bullish on Bank of America's prospects. The company's Zacks Consensus Estimate for 2024 and 2025 have been rising over the past 60 days.