BofA "Keep the Change"

[GobBluth]

Started this program last year on my checking acct. Basically rounds the remaining change to make a .00 on of all your transactions and auto-deposits that amount into savings.

Deposited over $600 this year doing this. Anyone else using it?

 

[Leros]

I just have a percentage of my paycheck go directly into savings. I don't see the point of a gimmicky savings program like that.

 

[GobBluth]

As do most people, I also have an allotment. Over the course of a year $600 isn't much, but it's nice to have for doing absolutely nothing and you don't notice the change being moved.

 

[corwin]

Yep, send mine to a savings account for my kids...don't get much since I never use my debit card though, rewards points from using my CC have a much better return.

 

[JackBurton]

Yeah, I use it. It's like a "what the heck, why not" option.

 

[crownjules]

I just have a percentage of my paycheck go directly into savings. I don't see the point of a gimmicky savings program like that.

Because in this day and age, saving is a rare concept.

 

[RockinZ28]

Yea I just move whatever I don't need for monthly expenses into a "high" interest savings account.

The only reason I'd sign up for the "keep the change" is I thought they had a promo where they matched your first $100 or something like that. Forgot about it, probably not still running?

 

[Gooberlx2]

I enrolled in the program when I used BoA. It's nice in the sense that you don't really notice the savings day-to-day, but it certainly adds up over time. Definitely useful for people who don't otherwise make the effort to save anything, or to create a "fun fund".

 

[GobBluth]

Yea I just move whatever I don't need for monthly expenses into a "high" interest savings account.

The only reason I'd sign up for the "keep the change" is I thought they had a promo where they matched your first $100 or something like that. Forgot about it, probably not still running?

They match up to $250 dollars your first year. Just got mine.

 

[RockinZ28]

They match up to $250 dollars your first year. Just got mine.

Yea I'm reading it now. Says only first 3 months though. Need to open a savings account, and figure out something to buy, like $1.01 gift cards or paypal transfers.

 

[GobBluth]

Yea I'm reading it now. Says only first 3 months though. Need to open a savings account, and figure out something to buy, like $1.01 gift cards or paypal transfers.

Right, 3 months, thats what I said... :hmm:

 

[brianmanahan]

i just deposit paychecks into savings and transfer what i need into checking

 

[jagec]

They match up to $250 dollars your first year. Just got mine.

Huh, I didn't realize that they matched. Might have to look into this...I wonder if they would count multiple individual CC statement payments ($1.01, $1.01, $1.01...)

 

[BrokenVisage]

Huh, I didn't realize that they matched. Might have to look into this...I wonder if they would count multiple individual CC statement payments ($1.01, $1.01, $1.01...)

You gotta figure a bank would have enough foresight to plan against such abuse. If not, I'm sure other people who thought about it already ruined the party.

 

[cKGunslinger]

You gotta figure a bank would have enough foresight to plan against such abuse. If not, I'm sure other people who thought about it already ruined the party.

Even been to FatWallet? ()

 

[jagec]

You gotta figure a bank would have enough foresight to plan against such abuse. If not, I'm sure other people who thought about it already ruined the party.

If they offer a $250 match for THREE MONTHS' worth of purchases...the math just doesn't work out any other way.

For the intended use of the program to hit the maximum match, you'd have to use your debit card over 5 times a day, every day.

 

[RockinZ28]

Even been to FatWallet? ()

lol nice.

Below is a summary of ideas for maximizing your matching funds from Keep The Change (KTC):

Pay $0.01 towards eBay seller fees
Pay cable/cell phone bill $1.01 at a time (check with your provider)
Buy gas at $0.0x or $1.0x (do not overuse)
Buy 3 stamps at the post office
Paypal $0.01 to your spouse
multiple $0.01 paypal subscriptions (must pay to same account, or they will get cancelled) that bill daily

 

[Leros]

Is there not a minimum payment required to get the match?

 

[blackangst1]

Yeah, its a bit gimmiky, but grats to the OP for SAVING SOMETHING. Youre ahead of the game now. Its really not about the amount you save, but the habit. The mindset. After some time, maybe 6 months, maybe a year, it will encourage you to save more. Then you'll start putting a certain amount every payday into savings, or even direct deposited from your paycheck.

:thumbsup:

 

[slayer202]

Woah, they match? But then I just looked into it and they only match the first three months.

 

[Mixolydian]

I've been using it ever since they announced it. Who can say no to free money, no matter how small it is? I've earned over $100 from the program already.