Bank Of America Tests Daily Deals

January, 2012

Bank of America has announced that it is testing a Groupon-like daily deal service for its account holders. The new “BankAmeriDeals” is currently being tested among employees and suggest deals based on your previous spending habits on your credit or debit card.  When viewing their online statement, the user can see what deals are available to them and then select which they would like to redeem.  When they purchase the deal item from a retailer with their Bank of America credit/debit card, they will pay full price and at the beginning of the next billing period the percentage off from the deal they chose will be deducted from their statement. This move shows how banks are moving towards internet banking services and embracing extra value added offers to keep consumers loyal and increase credit card spending.  For more information, see Mashable.