Bank of America and Intuit announced the availability of Intuit Full Service Payroll for Bank of America small business customers, which provides guaranteed error-free paychecks and payroll taxes, as well as a team of experts to address any number of payroll issues. One key feature is the guaranteed 100 percent accuracy of federal, state and local tax withholdings, as well as any voluntary withholdings that employees take, based on customers' information.
Other features include a dedicated team of U.S.-based payroll experts to manage customers' payroll from start to finish, available via phone, chat or email; full integration with customers' online banking solutions, so they can manage their business's finances all in one place; and online technology that spots possible errors before paychecks are finalized.
Bank of America already works with Intuit to provide small business customers with Easy Online Payroll. This self-service offering is available in two tiers, Basic and Plus, designed to meet payroll needs of a small business based on its size and number of employees. Both Easy Online Payroll services enable small business owners to calculate and process online payroll and payroll taxes with automatic employee direct deposit, pay statements and electronic tax payment.
"By teaming up with Bank of America, we're taking the complexity out of payroll for their four million small business employers across the country," said Ginny Lee, senior vice president and general manager of Intuit's employee management solutions division. "Whether business owners want to do it themselves or have us do it for them, we have a solution that best meets their needs. And most importantly, they can sleep at night knowing that their employees and their payroll taxes are paid accurately and on time."
In addition to the launch of Intuit Full Service Payroll, Bank of America is enhancing the checking and savings solutions it offers small business clients. Beginning in November in Arizona, Georgia and Massachusetts, the bank will launch Business Platinum Privileges, a recognition and benefits program. Benefits include reduced rates on lines of credit, retirement account benefits, additional bonus points or cash back on credit and charge card purchases, and higher rates on savings accounts.
"Small business owners are hit every day by a multitude of operational demands that can take their focus away from what's most important to them-serving their customers and generating more business," said Dean Athanasia, preferred and small business banking executive at Bank of America. "Intuit Full Service Payroll gives small business owners peace of mind when managing payroll, so they can dedicate more time to running and growing their business."