Parking funds with a Merrill Edge account at Bank of America

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I had a personal checking account at Bank of America linked to my Merrill
Edge account which worked well so I thought I'd do the same with our LLC checking account. Not only does the funds in your Merrill Edge account count towards your total for free checking it also boosts your cash back rewards if you have a Cash Rewards Credit Card. I'm not an active investor so I just purchased the Vanguard Total Stock Market ETF (VTI) with the Merrill edge account.

For our LLC we had to

  1. Complete this form
  • link a Merrill Edge (BIA - Business Investor Account) account with our BofA Business Advantage Checking account
  • maintain a combined average monthly balance of $35,000 or more in linked Bank of America accounts
  • this waives the $30/month fee

Links:
https://www.bankofamerica.com/smallbusiness/deposits/resources/faqs-savings-cds/#How_do_I_apply_for_a_Business_savings_account

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  • 5 months ago by vince