BOA Keep the Change Program

[woodie96]

The way I remember it on my DW's old bank account we closed a couple of months ago.....They combine all of your debit card purchases for the day, and after that total, they then transfer the amount rounded up to a buck. So if i remember right, most she could get on any given day in the their program was $1.00. So at best, she could transfer 31 dollars a month into savings.
The jar idea works much better...IMHO....DW took our jar and deposited it a couple weeks ago, and had almost 90 bucks in it.

[minnie1928]

Here's the bank's perspective....it increases the number of debit card transactions which increases the amount of interchange revenue they earn. Moving your money from one account to another one of your accounts electronically costs them virtually nothing (outside of the original programming). They get good marketing material and increased revenue with very little effort/outlay on their part. The upside on the bank's part would be huge with very little downside.