Bank of America today announced the rollout of three new tools designed to reward loyalty, provide greater flexibility for managing large purchases, and simplify access to credit monitoring: Refer-a-Friend, Custom Pay Plan and My Credit. The announcement was made on June 10, 2026, highlighting the bank's focus on enhancing financial control and visibility for its clients.

"With these tools, we're rewarding our clients in more ways, giving them greater visibility into their financial health and more control over how they manage their money," said Holly O'Neill, President, Consumer, Retail and Preferred at Bank of America.

Refer-a-Friend Program

The Refer-a-Friend program allows eligible clients to earn referral bonuses by recommending credit cards to friends and family. Clients with a Customized Cash Rewards, Unlimited Cash Rewards or Travel Rewards credit card can access a personalized referral link through the Bank of America mobile app or online banking.

Custom Pay Plan

The Custom Pay Plan feature offers clients a way to convert qualifying purchases into structured payment plans. This tool is designed to replace traditional credit card interest with a fixed monthly fee disclosed upfront.

• Predictable costs: Fixed monthly fee disclosed at plan creation.
• Flexible terms: Repayment periods typically range from 3 to 18 months.
• Transparency: Clients can view total cost and repayment schedule before committing.
• Rewards preserved: Cardholders continue to earn rewards and retain purchase protections.

My Credit and Security

The My Credit tool provides eligible clients with access to their FICO® Score, credit reports, and personalized insights without impacting their score. It also offers alerts regarding changes to the credit profile and suspicious activity. Additionally, BofA Rewards members enrolled in My Credit gain access to enhanced fraud and identity monitoring, including dark web monitoring and full-service identity restoration.

"Your credit profile is one of the most important indicators of your financial health, and we want to make it as easy as possible for clients to understand and manage it," said Mary Hines Droesch, Head of Consumer & Small Business Products and Analytics at Bank of America.

Bank of America has identified a surge in demand for AI-driven treasury, trade, and currency solutions among Asia Pacific companies as they navigate elevated FX volatility and evolving liquidity risks. This trend was highlighted during the bank's annual flagship client events, the Treasury Leaders Summit (TLS) and Financial Institutions (FI) Forum, held in Singapore on May 20 and May 21, respectively. The APAC payments market has reached an estimated transaction value of US$18 trillion, presenting significant opportunities for optimization in a complex financial landscape.

The events convened more than 250 senior treasury and financial institution leaders from global corporates, banks, asset managers, and insurers. Now in their 15th year, the TLS and FI Forum serve as platforms for addressing key industry issues, including payments, liquidity, and transaction banking. Winnie Chen, Head of Global Payments Solutions (GPS), Asia Pacific at Bank of America, hosted the forums alongside senior global and regional leaders.

Bank of America, the second largest bank in the world by market capitalization, emphasized its commitment to innovation with an annual technology spend exceeding US$13 billion. The bank delivers solutions such as CashPro and Intelligent Receivables, which enable clients to achieve real-time cash visibility, streamline payments, and enhance reconciliation capabilities at scale.

"In an environment defined by persistent volatility and structural shifts, clients are seeking insights that go beyond theory," said Winnie Chen. "There is a clear pivot toward data and AI-driven capabilities that can help clients strengthen resilience, sharpen decision-making and deliver measurable results."

Key Event Details

The bank's Global Payments Solutions business differentiates itself through a combination of a global network, deep industry expertise, and sustained investment in technology innovation. Chen added that the bank's global platform and AI-enabled capabilities position it strongly to deliver seamless solutions that help clients navigate complexity and unlock growth.