Start Saving with Bank of America’s Keep the Change

Bank of America’s Keep the Change, while not exactly a new program, is good place to start putting away a little something once in a while especially at these times when saving up is not at the top of every individual or family’s list of priorities.

Here’s how it works: Once you are enrolled in the program, every time you make a purchase using your Bank of America Check Card, the bank automatically rounds up this amount to the nearest dollar, and the difference is then credited to your savings account. 

For instance, when treat yourself to a cup of coffee that’s worth $3.25, the amount charged to your checking account is rounded up to a tidy $4.00 and the change, $0.75, is deposited to your savings account. It’s like having an electronic coin bank! 

And to further boost your commitment to saving, Bank of America will match the “change” you save by putting up an equivalent amount of up to 100% of your contribution in the first three months, and 5% afterwards, up to a maximum of $250 per year. One important thing to remember though: the total matched amount will only be credited after a year.  

You only need a Bank of America checking account, check card, and savings account, enroll in the program, and you’re good to go. These may just be a few pennies at a time, but it’s still saving up and without feeling the pinch.