Savings so simple your wallet won’t miss it.
Here’s how it works: every time you buy something with a Bank of America Visa® debit card, we’ll round up your purchase to the nearest dollar amount — and transfer the difference from your checking to your savings account.1 So you get to keep the change and grow your savings. What could be easier?
Save with everyday purchases, special purchases — all your purchases.
Using your Bank of America Visa® debit card is always a smart way to spend. The money comes directly out of your checking account with no charge to you for this service. And now with Keep the Change™, it’s even smarter. Because every bag of groceries, every coffee and every tank of gas adds up to more savings for you, wherever Visa® debit is accepted.
We’ll match, too.
For the first three months, we’ll match your Keep the Change savings at 100% 2. That means for every Keep the Change transfer, we’ll contribute the same amount to your account. And when the three months are over, we’ll continue contributing 5% a year, every year. To make it even easier to save. Our reward will be paid annually to your savings account
Keep the Change Terms
When you enroll in our Keep the Change savings service, we round up the amount of any Visa® debit card purchase made by you or a joint owner of your checking account to the next whole dollar amount, and transfer the amount in excess of the purchase price to your savings account.
We aggregate the round up from purchases that post to your checking account each business day and make a single transfer (the "Keep the Change" transfer) at the end of the business day. If on a business day you do not have sufficient available funds in your checking account, or if any transaction has overdrawn your checking account, we do not round up purchases posted on that business day and we cancel the Keep the Change transfer for that day.
If your Visa debit card purchase is subsequently cancelled or reversed, the corresponding Keep the Change transfer will remain in the savings account. We may cancel the Keep the Change service at any time.
2Keep the Change Matching Promotion
We match 100% of the amount of your Keep the Change transfers during the first three months after you enroll, and we will match 5% thereafter.
The matching funds will be credited to your savings account annually, within 8 weeks after the month in which the anniversary of your enrollment in the Keep the Change savings service occurs. To receive the matching funds, your checking and savings accounts must be open and in good standing and you must still be enrolled in the Keep the Change savings service at the time the matching funds are credited. Purchases with co-branded or rewards Visa debit cards are not eligible for matching.
Earn a promotional match up to $250 per anniversary period for each checking account with the Keep the Change savings service. You will not receive the matching funds for: a) credits or other adjustments related to POS purchases, such as those for purchases that are cancelled or returned; purchases of cash-like items, such as money orders, traveler’s checks, foreign currency, cashier’s checks, gaming chips, and other similar instruments and things of value; c) Account funding transactions including transfers to open or fund deposit, escrow, or brokerage accounts and purchases of stored value cards.We may terminate the matching promotion at any time without notice.
Savings accounts eligible to receive matching funds include Regular Savings, which requires a minimum opening balance of $100 and pays a variable annual percentage yield that was 0.50% as of 8/16/05. Fees could reduce earnings.
The promotional matching funds will be reported to the IRS on Form 1099.