What do you guys think about keep the change program at bank of america?

Question

What do you guys think about the keep the change prgram at bank of america, rounding the total to the highest dollar and putting that change into ur savings. When I pay in cash i usualy dump the change in a ajr that never gets used, so what do u guys think about it?

Answer 1

The program is capped at $250 (I believe) and the account they dump it into gets the lowest interest rate offered. I also believe that it is subject to monthly fees as well. If you're into dump and run with a whole $250 after the long wait, then go for it.

Answer 2

I like the program hoestly. I know it doesnt have the highest intrest rate in the world, which i dont really care, because all that change goes into my savings account, i.e. my starbucks cost $4.01 everyday, so it gets rounded to $5.00, and $0.99 goes in my savings account, later on when my bills are paid, i see that there is about $30 in my savings account at the end of the month which is not alot, but its great enough to go out and spend on myself. its really your own money your saving with a little help from the bank, but i have a hard time of saving money myself, so i like the program, i think alot of people would too. Good Luck.

Answer 3

Better than a sharp stick in the eye.

Surprising how fast it adds up in a year.


I dumped in a 5 gal jug once, for a planned vacation.

A burglar got it about 3/4 full. Had to be around $500.

Answer 4

I personally like it. It rounds out to the next dollar of what I spent for that day on purchases and deposits into my savings.

Answer 5

You really need to read the fine print; BAC will pay .5% (that's half of 1). Your better off opening a regular savings account at ING Direct (paying 4.40%) or HSBC which is paying 5.05%.

Answer 6

It sounds like a good program to me!!! It forces you to use your debit card and save money. Those pennies do add up!!!