As U.S. bankers strive to improve retail client ties, Bank of America (BAC.N) announced on Wednesday a new loyalty program that will reward a wider spectrum of consumers.
On May 27, BofA Rewards will replace the bank’s preferred rewards program.

Any personal checking account holder can join the loyalty program, with no minimum amount. BofA Rewards will have four tiers based on a customer’s average Bank of America and Merrill balance. Credit card rewards bonuses, cash back, house and vehicle loan reductions, and fraud monitoring are benefits.

Premier and preferred clients will receive travel, car, and dining advantages. The bank said business rewards customers will stay in that plan for now. Over 11 million people have joined the bank’s preferred rewards since 2014.