NEW YORK , June 10, 2025 /PRNewswire/ -- Recent action from The Clearing House to increase the transaction limit on real-time payments from $1 million to $10 million is fueling new use cases in business-to-business payments among Bank of America clients. The bank is one of the first financial institutions to enable its corporate customers to send payments up to the new transaction limit.
Zacks.com users have recently been watching Bank of America (BAC) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Bank of America bets big on physical branches, with 150 new financial centers planned by 2027 to boost growth and deepen customer ties.
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Banks - Diversified Industry | Financial Services Sector | Mr. Brian Thomas Moynihan CEO | XMUN Exchange | US0605051046 ISIN |
US Country | 213,000 Employees | 7 Mar 2025 Last Dividend | 30 Aug 2004 Last Split | 13 Jan 1978 IPO Date |
Bank of America Corporation, a comprehensive financial institution, provides a wide range of banking and financial services across the globe. Catering to individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments, it operates through four main segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. This vast institution has its roots stretching back to 1784, with its headquarters nestled in Charlotte, North Carolina, marking its long-standing presence and influence in the financial sector.
Offers an array of services including traditional and money market savings accounts, certificates of deposit and IRAs, checking accounts with or without interest, and investment accounts and products. Also provided are credit and debit cards, residential mortgages, home equity loans, and various loans such as automotive, recreational vehicle, and consumer personal loans.
Delivers investment management, brokerage, banking, trust, and retirement products, along with wealth management solutions. GWIM also provides customized solutions, incorporating specialty asset management services.
Focuses on lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending. It extends treasury solutions such as treasury management, foreign exchange, and short-term investing options, in addition to merchant services; provides working capital management solutions; and offers advisory services in debt and equity underwriting and distribution, mergers, and fixed-income and equity research.
Engages in market-making, financing, securities clearing, settlement, and custody services. It provides securities and derivative products, alongside risk management products through interest rate, equity, credit, currency, and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products.