Bank of America and Starbucks Launch Loyalty Partnership

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Feb 15, 2024, 08:04 ET

Bank of America cardholders and Starbucks Rewards members can link eligible accounts to earn 2% cash back from Bank of America and one Star per $2 spent at Starbucks

CHARLOTTE, N.C. and SEATTLE, Feb. 15, 2024 /PRNewswire/ -- Today, Bank of America (NYSE: BAC) and Starbucks Coffee Company (NASDAQ: SBUX) announced a new partnership that offers millions of Bank of America cardholders and Starbucks Rewards® members in the U.S. the ability to earn even more benefits by linking accounts.

Everyday Account Linking Benefits

Bank of America cardholders and Starbucks Rewards members can earn 2% cash back on top of the rewards or card benefits they already earn on qualifying purchases, and 1 Star per $2 spent at Starbucks when they link an eligible debit or credit card with their Starbucks Rewards account at BofA.com/starbucks or starbucks.com/bofa. Members can unlock their new benefits through qualifying Starbucks in-app purchases with their linked Bank of America debit or credit card – like reloading a digital Starbucks gift card, ordering ahead, or paying in the app at the register. Stars earned can be redeemed towards Rewards at Starbucks including free drinks, food, merchandise and whole bean coffee¹.

This new program is open to currently enrolled Starbucks Rewards members and Bank of America cardholders, as well as new members or cardholders. Customers can join Starbucks Rewards at www.starbucks.com/rewards or app.starbucks.com. To apply to become a Bank of America cardholder, they can visit bankofamerica.com.

"Partnering with Starbucks is part of our commitment to invest in meaningful ways to thank our clients for choosing to do business with us," said Shikha Narula, head of consumer and small business product strategy and transformation at Bank of America. "We are pleased to give Bank of America clients and Starbucks customers even more opportunities to make their everyday financial lives more rewarding."

"We are pleased to partner with Bank of America and offer Starbucks Rewards members even more valuable benefits like Cash Back and more Stars," said Ryan Butz, vice president, loyalty strategy and marketing at Starbucks. "This partnership is the latest example of how we are continuing to invest in our most loyal customers to deepen engagement and connection by offering benefits and experiences that can't be found anywhere else."

Bank of America BankAmeriDeals^®

The partnership with Starbucks is offered through Bank of America's BankAmeriDeals program. Launched in 2012, BankAmeriDeals allows more than 45 million Bank of America clients to earn cash back on deals they choose when they pay for everyday purchases with an eligible Bank of America debit or credit card. Clients simply need to log in to the BofA mobile app, or online banking to choose which of the curated cash back deals they'd like to activate.

Starbucks Rewards

Since 2009, the industry-leading Starbucks Rewards program continues to grow in popularity and offers members rewards, personalized offers, games, exclusive deals, and the ability to order ahead and pay using the Starbucks app. In Q1 FY24 (October 2023-Dec 2023) in the US, Starbucks set new records with 90-day active Starbucks Rewards members growing 13% year over-year to a record 34.3 million. Additionally, Starbucks Rewards tender in company-operated US retail stores reached an all-time high of 59%, demonstrating increased engagement.

About Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

About Starbucks

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with nearly 38,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at stories.starbucks.com or www.starbucks.com.

¹Restrictions apply. See Starbucks.com/terms for details.

Reporters may contact:
Andy Aldridge, Bank of America
Phone: 1.980.387.0514
[email protected]

SOURCE Bank of America Corporation