Bank of America paying out for Keep the Change

[imported_Sonnyboy]

Just for everyone to know. I read a thread about a year ago about BOA's Keep the Change program and signed up and utilized PayPal to make it work. Anyways, I just got paid so if you signed up at the same time via the thread, keep an eye out.

Keep it real.

 

[PhoenixOrion]

I wish you can use the program using their credit cards too.......keep the change PLUS rewards points FTW.

 

[Terabyte]

Can someone explain BOA"s Keep the Change program? Thanks

 

[Horo]

i dont know but i got paid 15 bucks i swear i never signed up for keep the change but i got money

 

[Dealbuyer]

Just Wondering... Is This Really A Hot Deal?

Do They Give You Back Your Own Money After A Certain Time?

Not At All Wanting To Thread Crap, Just Sincerely Wondering How This Qualifies As A Hot Deal...

 

[manly]

(I'm probably wrong) but I thought they were simply helping folks save their own money at measly interest rates.

Come on, when's the last time BofA had a hot deal? (Not trying to thread crap, feel feel to correct me.)

 

[pyro451]

The first few months of keep the change BOA matched your change deposit into your savings account.

 

[Blain]

Originally posted by: Dealbuyer

Just Wondering... Is This Really A Hot Deal?

Do They Give You Back Your Own Money After A Certain Time?

How This Qualifies As A Hot Deal...

This is a BLAZING HOT DEAL...
Where can I sign up to have them keep my money for a while, then return it to me? :laugh:

I guess that makes my checking account change... A SuperNova Deal!
I went from 0.30% interest to 1.5%. :shocked:

 

[SleepWalkerX]

Originally posted by: sil3nt t0rnado
Can someone explain BOA"s Keep the Change program? Thanks

I believe what happens is for every purchase you make with your visa card from your checking account, they're supposed to round up the amount charged to the next dollar (so if you spent 234.38 on a purchase, they'll charge you 235.00 to your checking) and put the difference into your savings account (from my previous example, they should put .62 cents towards your savings). On top of this they say they'll match the amount transferred for the first three months and put that in your savings account themselves. After that they will match 5% a year.

Nothing too special, but I guess it adds up later on down the road.

 

[krunchykrome]

This isnt a hot deal, they're just paying you the money you've accumulated over a long period of time. When you make purchases, they round up, and that extra change is saved by BOA. When you accumulate a certain amount of money, they pay it to you. Basically, they're paying you your own money that they probably earned interest on.

:thumbsdown:

 

[codeyf]

They don't keep your money then give it back to you. It's tallied up each day and transferred to your savings account. So when you look at your savings account online, you'll 1 deposit every day for the total "change" you saved.

They are matching 100% up to $250 for the first 3 months. I assume the $250 is total over the first 3 months. After that, it's 5%.

 

[bhyma]

NOT HOT!!!

 

[Rassi]

B of A sucks... They just screwed me over on another formerly hot deal. I signed up for an account earlier this summer. Open an account and keep it for 60 days and you were supposed to get $100. They never paid out. When i called them on it, they claimed I didn't qualify. Tried to escalate it and they wouldn't budge. A-holes....

 

[osiris3mc]

Originally posted by: Rassi
B of A sucks... They just screwed me over on another formerly hot deal. I signed up for an account earlier this summer. Open an account and keep it for 60 days and you were supposed to get $100. They never paid out. When i called them on it, they claimed I didn't qualify. Tried to escalate it and they wouldn't budge. A-holes....

They do suck. They are notorious for charging fees for everything. I closed all my BofA accounts just recently (I never purposely wanted them, I had a Fleet checking and an MBNA credit card) since they are a terrible company and I can't stand giving them money.

 

[hcdunk]

People need to stop thread crapping. This is essentially a free $250 if you use your debit card frequently, and they don't keep your money (mine is put into my money market savings account the day of.) The 5% a year isn't a lot, but it's FREE MONEY, so hard to complain about that. Can't believe there's a thread of people complaining about being given free money with no strings attached.

 

[cougar78]

I think it's pretty good. I've been one of the lucky ones that haven't had issues with BofA.
The keep the change program is for the first few months they match what they take from your checking account and put in your savings. After that you get whatever the rounded amount thrown into your savings. After a year (i'm guessing I've been signed up for that long), they deposited a matched amount of the total of the year you got for keep the change. So that means they give you x amount to match what you had transferred to your account. They don't hold that keep the change amount they match it after a year.