Bank of America Corp will pay out $200 awards to its employees at Merrill Lynch Wealth Management who have been fully vaccinated and going to office regularly, according to a memo shared with Reuters on Wednesday.
The awards will be offered to client associates, administrative support and operations staff at BofA-owned Merrill Lynch, a spokesperson for the bank said.
For now, only those staffers who have confirmed they have received their vaccines were asked to return to office, the spokesperson said.
"While there is no vaccine mandate across the company, we strongly recommend employees be vaccinated and to notify us of their status."
More than 80% of Merrill employees have voluntarily reported their vaccination status and have or are returning to the office, the spokesperson added.
Earlier this year, major Wall Street firms were aggressively planning for most employees to return to office. But the highly contagious Delta variant of the coronavirus forced some of them to postpone the returns.