Bank of America is looking to attract recession-hit customers with the launch of a new Web site that allows users to earn cash back on purchases at a host of online retailers.
Bank of America online banking customers with a credit or debit card can register for free through the Add It Up site, entitling them to earn up to 20% cash back on buys at over 270 e-tailers, including iTunes, Walmart, BestBuy and Barnes & Noble.
The cash back is accrued whenever customers use their credit or debit card to make purchases at participating sites, with the money going into the account of their choosing. They can also keep track of earnings on the Add It Up site.
David Owen, checking and debit executive, Bank of America, says: "With Add It Up, Bank of America is giving customers a new way to stretch their money by getting cash back on purchases from hundreds of retailers they do business with regularly, and letting them do it online at their convenience."