Bank of America and Starbucks Coffee Company have agreed a loyalty partnership. The deal offers Bank of America cardholders and Starbucks Rewards members the ability to earn more benefits by linking accounts.
Everyday account linking benefits
Bank of America cardholders and Starbucks Rewards members can earn 2% cash back. This is 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.
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Members can unlock their new benefits through qualifying Starbucks in-app purchases with their linked Bank of America debit or credit card. This covers 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 coffee.
The new programme is open to currently enrolled Starbucks Rewards members and Bank of America cardholders, as well as new members or cardholders.
“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.”
Ryan Butz, vice president, loyalty strategy and marketing at Starbucks, added: “We are pleased to partner with Bank of America and offer Starbucks Rewards members even more valuable benefits like Cash Back and more Stars. 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.”
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By GlobalDataBank 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. In Q1 FY24 (October 2023-Dec 2023) in the US, membership of Starbucks Rewards membership increased by 13% y-o-y to a record 34.3 million.
