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Bank of America deposit products: FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Investment products are not FDIC-Insured.
Bank of America Deposit products:FDIC Insured - Backed by the full faith and credit of the US Government. Investment products are NOT FDIC insured
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Glossary of Banking Terms

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Account Balance
The amount of money in an account at the start of the business day, including all deposits and withdrawals posted the previous night, whether or not the funds have been collected. See collected balance.
Account Statement
A printed or online statement of all the funds paid out by or paid into your account during a statement cycle.
Active Account
An open bank account in which transactions can be made; usually an account that has had activity within the last 3 years.
Affinity debit card
A debit card issued in affiliation with a participating organization (for example, a charity or sports team). Affinity debit cards have all the same benefits as standard Bank of America debit cards and are available with eligible checking accounts.
Annual percentage yield (APY)
The total amount of interest paid by the bank on your deposit account (checking, savings, CDs, IRAs) during the year. Includes both interest paid on the amount held in the account, as well as compounded interest for the year.
Automated Clearing House (ACH)
A nationwide funds transfer network that enables participating financial institutions to electronically credit, debit and settle entries to bank accounts.
Automatic funds transfer
An arrangement that automatically moves funds from your account to another on a date you choose; for example, every payday.
Automatic payment
An arrangement that automatically deducts funds from your account (usually a checking account ) on the day you choose in order to pay a recurring bill (such as car, insurance, mortgage payments, etc.).
Available Balance
The amount of money in your account that is available to spend, withdraw or cover transactions. Your available balance is updated throughout the day based on your account's activity. Your available balance incorporates any holds on your account, such as holds for debit card transactions we've authorized, and deposit holds.

Keep in mind that there are a few things that are not included in your available balance such as checks you've written that we haven't received yet and upcoming automatic payments. You'll also want to account for transactions where the final amount may differ from the amount that was originally authorized, such as when a tip is added to a restaurant charge.

Please refer to the Deposit Agreement and Disclosures (PDF) for more details.
Average Daily Balance
The sum of all the daily account balances during an accounting period (usually a monthly statement cycle), divided by the number of days in the same period. May be used to determine whether a service charge applies or whether your account qualifies for special services or discounts. See minimum daily balance.
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Important Disclosures and Information

Apple and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries. Google Pay and the Google Pay Logo are trademarks of Google LLC.

Mastercard is a registered trademark of Mastercard International Incorporated and is used by the issuer pursuant to license.

Investment and insurance products:

  • Are Not FDIC Insured
  • Are Not Bank Guaranteed
  • May Lose Value
  • Are Not Deposits
  • Are Not Insured by Any Federal Government Agency
  • Are Not a Condition to Any Banking Service or Activity

Online Banking Service Agreement

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. You should review any planned financial transactions that may have tax or legal implications with your personal tax or legal advisor.

Securities products are provided by Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S", or "Merrill"), a registered broker-dealer, registered investment adviser, Member SIPC, and a wholly-owned subsidiary of Bank of America Corporation. MLPF&S makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation.

Bank of America Private Bank is a division of Bank of America, N.A., Member FDIC and a wholly owned subsidiary of Bank of America Corporation. Trust and fiduciary services are provided by Bank of America, N.A. and U.S. Trust Company of Delaware. Both are indirect subsidiaries of Bank of America Corporation.

Insurance Products are offered through Merrill Lynch Life Agency Inc. (MLLA) and/or Banc of America Insurance Services, Inc., both of which are licensed insurance agencies and wholly-owned subsidiaries of Bank of America Corporation.

Banking, credit card, automobile loans, mortgage and home equity products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.

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Bank of America customers can request to opt-out from the sharing of their Personal Information for cross-context behavioral advertising.

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  1. 1. Click “Your Privacy Choices” link at the bottom of our web and mobile pages. On the pop-up window, select the “Sharing and Selling of Personal Data” tab located in the left column. Here you will be able to choose your preferences. Note: you can make changes to your preferences at any time; any adjustment will override the previous settings.

  2. 2. Using your web browser. Bank of America recognizes users' opt-out preference signals, honoring these preference signals as valid requests.

An authorized agent may submit an opt-out request on your behalf if you have provided the authorized agent signed permission to do so. All opt-out requests are processed within 15 calendar days from time of receipt.

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This setting blocks the collection and use of sensitive information.
To learn more about Children’s Privacy, see our Children's Privacy Page.

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Bank of America does not sell personal information, but we may share personal information for targeted advertising. You have the right to opt-out of the selling or sharing of your personal information.

By switching the toggle to the left and clicking save, you are indicating that you do not want us to sell your personal information or share your personal information for online targeted advertising activities.

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At any time, you may change your preference setting using the toggle bar. Any manual adjustment will override previous settings.

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