Bank of America is replacing its Preferred Rewards program with a new, expanded program called BofA Rewards. The new program eliminates the minimum balance requirement for initial enrollment, making it accessible to anyone with a Bank of America personal checking account.

A new loyalty program, BofA Rewards, launches May 27 and will be open to all personal account holders without a minimum balance requirement. The program introduces new tiers and benefits, expanding access to perks like mortgage fee discounts, auto loan discounts and cash-back deals.

The bank’s new program will offer rewards to personal checking account clients regardless of their balance, making 30 million existing customers eligible to join.