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1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsBank of America’s consumer Preferred Rewards program became BofA Rewards on May 27, 2026. To enroll today, you need an open, qualifying Bank of America personal checking account in good standing; there is no enrollment fee and no minimum balance to join. Start with the program’s Join now entry point and complete the signed-in Online Banking or Mobile Banking flow. Eligible accounts you own are generally connected to your Online/Mobile ID, but only accounts that meet the program’s ownership, account-type and good-standing rules count toward your rewards tier.
Existing Preferred Rewards members were generally moved into BofA Rewards automatically, so they normally do not submit a second enrollment. The current tiers are based on a rolling three-calendar-month average of qualifying balances, with thresholds of below $30,000, $30,000, $100,000 and $1 million.
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What changed from Preferred Rewards to BofA Rewards
Bank of America announced BofA Rewards on February 18, 2026, and launched the consumer program on May 27, 2026. The name changed, the tier names changed, and the enrollment rule changed. A customer who was already in Preferred Rewards was automatically enrolled in the replacement program, so a legacy member generally should sign in and verify the relationship rather than try to enroll again.
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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →The former consumer rule required a three-month combined average of at least $20,000 to enroll. That is not the current enrollment test. Under BofA Rewards, an eligible personal checking account is the gateway requirement; your balance determines which tier you receive after enrollment. The old $20,000 figure should not be used to decide whether you can join now.
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Bank of America reported more than 3 million clients enrolled during the first seven weeks after launch and said about 80% of new enrollments were completed through Online Banking or its Mobile Banking app. Those are bank-reported launch figures, not an independent estimate.
“BofA Rewards ensures every client, no matter where they are in their financial journey, can experience meaningful benefits and feel valued for their relationship with us.” — Mary Hines Droesch, Head of Consumer and Small Business Products & Analytics at Bank of America, February 18, 2026
Who can enroll in the consumer program
Required checking account
You must have an open, qualifying Bank of America personal checking account that is in good standing. A joint personal checking account can qualify when your ownership is recorded under the program’s rules. Simply being able to view an account online, being an authorized signer, or having access as a fiduciary does not by itself satisfy the ownership requirement.
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BofA Rewards does not charge an enrollment fee, and there is no minimum balance required to enroll once the eligible checking-account condition is met. Your checking account can still have its ordinary monthly maintenance fee if you do not meet that account’s separate waiver conditions. Joining BofA Rewards does not waive unrelated checking-account fees.
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Personal, not business, enrollment
The consumer program measures personally owned qualifying accounts. Business-owned accounts do not count toward a consumer BofA Rewards balance. If your relationship is primarily through a business account, review the separate Preferred Rewards for Business program because its eligibility rules and qualifying products differ.
How to enroll, step by step
- Confirm that your checking account is eligible. Make sure the account is a Bank of America personal checking account, open and in good standing, and that your name or joint ownership is recorded correctly. If the account is restricted, closed, business-owned or held only in a fiduciary capacity, resolve that issue before expecting it to qualify.
- Open the official BofA Rewards page. Choose the page’s Join now option. The current public materials do not publish a fixed, button-by-button authenticated screen sequence, so use the labels presented in your own Online Banking or Mobile Banking session rather than relying on an old Preferred Rewards walkthrough.
- Sign in through Online Banking or Mobile Banking. Complete the enrollment flow with your existing Bank of America credentials. The bank may ask you to review or confirm the accounts associated with your customer relationship. Follow the on-screen disclosures and submit the enrollment request.
- Check your Online/Mobile ID relationship. Confirm that the personal deposit, investment and other eligible accounts you expect to count are visible under the same digital identity. Bank of America’s Online Banking agreement says eligible Bank of America and affiliate accounts, including joint accounts, are linked when a customer first establishes an Online/Mobile ID; later eligible accounts are linked unless the customer opts out.
- Wait for the initial balance review. During the first 30 calendar days after first enrollment, the program can use daily combined end-of-day collected balances, subject to its qualifying-business-day rule, to assess your tier. After that initial period, the program uses its regular monthly balance process.
- Verify the tier and benefit timing. Eligible customers are moved to a higher tier within three business days after the bank determines they qualify. A tier change and the practical start of every new benefit are not necessarily simultaneous; the terms allow up to 30 days for new benefits to become effective.
How account linking works
For most customers, linking is a relationship-and-digital-access issue rather than a separate rewards form. When you establish an Online/Mobile ID, eligible Bank of America and affiliate accounts that you own, including qualifying joint accounts, are connected to that digital relationship. Accounts opened or added later are generally linked as well unless you opt out under the Online Banking agreement.
That automatic digital connection does not make every account reward-eligible. The account must also be an approved account type, have the required ownership or co-ownership, and remain in good standing. Viewing a spouse’s account, adding yourself as a signer, or having power of attorney does not turn an otherwise ineligible relationship into a qualifying balance.
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The public program materials do not describe a separate manual account-linking procedure specifically for BofA Rewards. If an eligible account is absent, first check the ownership record, account type, status and digital-access relationship. Contact Bank of America through a secure channel if those records are correct but the account still does not appear.
Which accounts count toward BofA Rewards
The August 2026 Personal Schedule of Fees is the controlling description of qualifying consumer accounts. It includes the following categories when you own the account individually or jointly and it is in good standing.
| Account category | When it can count | Important limitation |
|---|---|---|
| Bank of America personal deposit accounts | Personal deposit accounts owned individually or jointly | The account must be open and in good standing; business-owned deposits are outside the consumer calculation. |
| Merrill and Private Bank investment accounts | Eligible investment accounts owned individually or jointly | Account type and ownership records must meet the schedule’s rules. |
| IRAs | Eligible Merrill or Private Bank IRAs owned under the permitted relationship | An IRA is not automatically qualifying merely because it is visible online. |
| Merrill-statemented 529 plans | 529 plans that appear on Merrill statements and meet the ownership requirements | Plans outside the stated Merrill statement and ownership conditions may not count. |
| Revocable grantor trusts | Trust accounts that satisfy the schedule’s grantor and tax-reporting conditions | The trust must meet the specific grantor and reporting requirements; not every trust account qualifies. |
Accounts that generally do not count
- Employee benefit plans such as 401(k) arrangements.
- Annuities.
- Business-owned accounts in the consumer program.
- Accounts on which you are only a fiduciary, trustee, custodian or other non-owner role, unless the schedule’s specific ownership exception applies.
- Any account that is closed, restricted or otherwise not in good standing.
How BofA Rewards tiers and balances are calculated
After the initial enrollment review, the program uses a rolling three-calendar-month average of the monthly average end-of-day collected balances in qualifying accounts. “Collected” means the calculation is based on collected funds rather than an unqualified display balance. Because the measure averages months, a single large deposit or withdrawal may not change your tier immediately.
| Current BofA Rewards tier | Rolling three-calendar-month average in qualifying accounts |
|---|---|
| Member | Below $30,000 |
| Preferred Plus | $30,000 or more |
| Preferred Honors | $100,000 or more |
| Premier | $1,000,000 or more |
These are the current BofA Rewards tiers. They are not the former Preferred Rewards Gold, Platinum, Platinum Honors or Diamond Honors thresholds. You may enroll as a Member with an eligible checking account even when your qualifying balance is below $30,000.
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Why your displayed tier may lag a deposit
Newly enrolled customers receive the special first-30-day daily review described above. Once that period ends, the rolling monthly calculation governs. When the bank confirms that you qualify for a higher tier, the terms allow up to three business days for the tier move and up to 30 days for new benefits to become effective. A deposit made today therefore should not be treated as an instant benefit activation.
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How to move to a higher tier
- Keep the required accounts eligible. Make sure balances remain in qualifying personal or eligible affiliate accounts and that ownership records are accurate.
- Maintain the target average, not just a one-day balance. Use the three-calendar-month rolling average as your planning measure. A temporary balance spike may be diluted by the monthly averages.
- Allow the review cycle to finish. After the bank’s monthly determination, an eligible customer should move within three business days, followed by the possible benefit-activation period of up to 30 days.
- Review the relationship if the tier does not change. Compare the accounts shown under your Online/Mobile ID with the qualifying-account definitions. An excluded 401(k), annuity, business account or fiduciary-only relationship will not help the consumer calculation even if it appears in another financial view.
Troubleshooting an account that is missing
Check ownership and co-owner records
Look at the legal owner or co-owner name on the account, not just the name displayed in a household dashboard. A joint account can qualify when the joint ownership is properly recorded, while an account you can view without ownership may not.
Check the account type
Confirm whether the missing relationship is a personal deposit account, an eligible investment account or IRA, a Merrill-statemented 529 plan, or a revocable grantor trust meeting the stated conditions. Employee plans, annuities and business-owned accounts are common reasons a balance is excluded.
Check good-standing status
Restrictions, closure, unresolved servicing issues or another status that places the account outside good standing can prevent its balance from being used. Resolve the account issue before judging the rewards calculation.
Check digital access
Make sure the account is available under the same Online/Mobile ID used for enrollment. The Online Banking agreement describes automatic linkage for eligible accounts, but it also permits customers to opt out. Re-establishing digital access does not override the program’s ownership and account-type rules.
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When contacting Bank of America, have the account type, ownership arrangement, approximate opening date and the Online/Mobile ID relationship available. Ask whether the account is eligible under the current Personal Schedule of Fees and whether a servicing or linkage issue is delaying its appearance. Do not assume that a representative’s ability to see an account means its balance qualifies.
Consumer BofA Rewards versus the business program
| Question | Consumer BofA Rewards | Preferred Rewards for Business |
|---|---|---|
| Who is it for? | Consumers with an eligible personal Bank of America checking account | Eligible business customers under a separate program |
| Which checking relationship starts enrollment? | Qualifying personal checking account in good standing | Different business eligibility requirements apply |
| Do business-owned accounts count? | No, business-owned accounts are excluded from the consumer balance calculation | Business accounts are evaluated under the business program’s rules |
| Are thresholds the same? | Current consumer thresholds are below $30,000, $30,000, $100,000 and $1,000,000 | Do not assume the consumer thresholds apply; consult the business program terms |
A business owner can have both personal and business relationships, but the ownership line matters. Moving money between accounts does not merge the programs, and a business account does not become a consumer qualifying account simply because the owner also has a personal checking account.
Important limits before you enroll
- Benefits are not guaranteed savings. Any projected annual value depends on your tier, products and actual engagement; it is not a guaranteed return for every member.
- Enrollment does not guarantee credit approval. Joining BofA Rewards does not ensure approval for a mortgage, credit card, line of credit or other lending product.
- Benefits are not automatically retroactive. A new tier does not make older loan discounts or prior transactions eligible after the fact unless the applicable terms expressly say so.
- Terms can change. Account definitions, thresholds, screens and partner offers may be revised. Check the current BofA Rewards page and Personal Schedule of Fees before relying on a threshold or benefit.
Bottom line
For a new consumer enrollee, the practical path is straightforward: maintain a qualifying personal Bank of America checking account, use the official BofA Rewards Join now flow while signed in, and verify that your personally or jointly owned eligible accounts are connected to the same Online/Mobile ID. You do not need $20,000—or any other minimum balance—to join. Your qualifying-account ownership, account types and rolling three-month average determine the tier, while account review and benefit activation can take additional business days.
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