To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs. These ads are based on your specific account relationships with us. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. If you opt out, though, you may still receive generic advertising. Merrill Lynch brokers are buzzing about the firms expansion into banking, most notably Merrills sweep of cash into an FDIC-insured deposit account instead. If you prefer that we do not use this information, you may opt out of online behavioral advertising. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. When cash is needed for various transactions, such as the purchase of securities, available funds on deposit are automatically used to. Bank of America is a banking and financial services corporation that offers banking, investing, and other financial and risk management services to individuals, SMBs, and large corporations. With the Merrill Lynch Bank Deposit Program, you can take advantage of an automatic cash sweep feature and daily liquidity. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Up to 1,000,000 for a two-party joint account. Relationship-based ads and online behavioral advertising help us do that. deposit accounts controlled by its affiliate, Bank of America, N.A. We strive to provide you with information about products and services you might find interesting and useful. LLP Files Class Certification Motion in Merrill Lynch Sweep Account Litigation. Programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. (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.īanking, credit card, automobile loans, mortgage and home equity products are provided by Bank of America, N.A. ![]() ![]() Insurance Products are offered through Merrill Lynch Life Agency Inc. Both are indirect subsidiaries of Bank of America Corporation. Trust and fiduciary services are provided by Bank of America, N.A. ![]() MLPF&S makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation.īank 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. 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 layer, and a wholly-owned subsidiary of Bank of America Corporation. You should review any planned financial transactions that may have tax or legal implications with your personal tax or legal advisor. The CDARS service allocates deposits in a way that is similar to the ICS service, but allocates the funds to time deposits (certificates of deposit or CDs) at other Network banks, whereas the ICS service allocates the funds to money market deposit accounts.Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. VBS sweep program automatically transfers (sweeps) any uninvested funds, such as new deposits or the proceeds from securities transactions, into a money. Promontory also offers the Certificate of Deposit Account Registry Service or CDARS service, and the Insured Network Deposit or IND service. The provider of the Insured Cash Sweep is IntraFi Network (formerly Promontory Interfinancial Network), which is based in Arlington Virginia. In 2021, the service was reconfigured with several others offered by IntraFi Network into IntraFi Network Deposits and IntraFi Funding.įinancial institutions that offer the service can place the deposits received from their customers into interest-bearing savings accounts at other FDIC-insured banks in the Network. Cash sweep options for accounts enrolled in Investment Advisory Programs or established through Money. The Insured Cash Sweep or ICS service is used by banks and savings associations that are insured by the Federal Deposit Insurance Corporation (FDIC). Merrill Lynch Affiliated Banks: Bank of America.
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