Savings Flashcards
The preferred saving solutions for most Merrill clients is?
The Wealth Management Money Market Savings Account
Three benefits of WM Money Market Saving Account?
Higher yields, low balance to open and a convenient way to segregate savings.
What is the minimum balance to open a WM Money Market Savings account?
$25
What is the monthly fee on a WM Money Market Savings account?
$12
What are two ways a fee be waived on a WM Money Market Savings Account?
Client maintains a $2,500 minimum daily balance and linked to Advantage Relationship Banking for WM
What is the yield on a WM Money Market Savings account?
Tiered offering, higher rates for higher balances.
How is the B of A Advantage Saving available?
Available on line and through financial centers. Available to Merrill clients with less than $250,000.
What is the required balance to open a Advantage Savings account?
$100
What is the monthly fee for an Advantage Savings account?
$8
Two ways a fee can be waived on an Advantage Savings Account?
If the client maintains a $500 minimum balance and linked to WM Bank of America Advantage Plus account
What is the yield on a Advantage Savings account?
Generally lower than WM Money Market Savings. The tier is based on relationship and balance level. Merrill clients enrolled in Preferred Rewards for WM receive the highest tier.
What is the FDIC coverage?
Up to the applicable limits
What is the limit for monthly withdrawals?
Limited to 6 monthly withdrawals for certain transactions types.
