Bank of America Announces Free Online Trading

According to Bloomberg.com

“Bank of America Corp., seeking to attract new clients, offered free online stock trades to customers with accounts of at least $25,000, sending shares of discount brokers lower.

The second-largest U.S. bank said customers in New York, Boston and other cities in the northeast U.S. will get 30 free trades a month so long as they maintain the minimum balance in any combination of accounts. Such trades usually cost $5 to $10, meaning customers may save as much as $3,600 a year. Bank of America said the program, which is effective immediately, will be extended nationwide over the next few months.”

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