Bank of America is wading into the fast-growing business of offering consumers targeted online discounts. The bank will start testing a new service that will allow customers to rack up savings from retailers based on previous spending patterns.

Customers will receive offers through the bank’s online banking Web site. The discounts will be awarded in the form of cash payments once a month. Customers need not sign up for e-mailed coupons or check a separate Web site, as bargain hunters do with offerings from Groupon and others.