General Question

essieness's avatar

Is the "Keep the Change" program at Bank of America worth it?

Asked by essieness (7643 points ) February 25th, 2009

I am thinking of opening an account with B of A purely for that reason. Do any of you have any experience with “Keep the Change” and what are your thoughts?

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10 Answers

KrystaElyse's avatar

I have the keep the change program on my debit card. I like it because it helps me save a little bit each time I purchase something. Also, for the first three months they match your KTC balance! That was pretty awesome. Gotta lurve free money.

TheNimrod's avatar

I like it. I think it’s nice to have that little bit of money on the side for when you want something special or random.

blondie411's avatar

I liked it, rounding all the money to the next dollar and transferring it over. It basically forces you to save, it may be a couple of cents but they do add up.

patg7590's avatar

i know someone who has it and loves it.

syz's avatar

I haven’t tried it, but it appeals to me. It seems like a fairly painless way to save some money.

nikipedia's avatar

I hate BoA for a host of other reasons, but keep the change is the shit.

miasmom's avatar

We had the KTC program, but there are a few things we didn’t know about it, like they’ll charge you for transferring too many times during a month, etc. Anyway, these misc fees totally defeated the account and we ended up losing money. So, be wary and read all the fine print and make sure that works for you.

basp's avatar

I have always used my own keep the change system. Since I am so terrible at math, I always round up in my checkbook which creates a “buffer” of extra money. Most years, I use that money at Christmas time. You would be surprised at how much adds up.
But I don’t use B of A, I just do it on my own.

susanc's avatar

Kudos to basp.

MrItty's avatar

It’s a cute little program, but it is NOT a savings program. If this is your entire savings portfolio, you need to reanalyze. Saving 1¢ – 99¢ per transaction is not going to save you any real money in the long run.

(Though I will admit when I was using my debit card to pay for everything, I’d intentionally leave tips at restaurants that would make my total be $X.01. Same for pumping gas…)

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