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Bank To Pilot New Discounts Service

FINANCIAL PRIVACY—U.S

January 26, 2012

Bank of America (BoA) is moving toward the business of offering consumers targeted online discounts, Reuters reports. This week, the bank is testing a new service to allow customers to save money based on their purchase histories. In BankAmeriDeals, customers will receive offers through the company's online banking website and be rewarded cash payments once a month. BoA will not share the information with third parties, a company spokesperson said. The plan comes as banks try to recover revenue after new regulations were imposed that limit the fees banks can charge per debit card swipe. BoA will test the program on its workforce in February.
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