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.
