cordelli

Not worth opening a new account for unless you are in the market for a new account, but if you have a BoA account they are offering a keep the change program, where they round all your ATM debit purchases up to the next dollar and transfer that money daily to a savings account.

They are matching the first 3 months of donations then 5% after that up to $250 a year.

I like the idea of the "virtual change jar", having them match it is even better.

tenmoc

You do realize you're paying the bank interested on these rounded off bills.

They are NOT a customer friendly bank. Infact I would term them the Expedia of banks. Or maybe Hilton.

If its a savings method that works, go for it.
But even matching if you are carrying a balance you're getting screwed.

seanp7

It's matching debit transactions - there's no balance here.

jerry crump

I think they are matching the change for 3 months not 1 as op stated.

I agree about the customer unfriendly comment. Unless they percieve you as very wealthy they hand you a piece of plastic and say use it or pay to speak to a human.

flyupfrnt

I find BofA to be a very convenient bank. They have locationa ALL over the US.

I pay No fees of anykind to speak with a human.

They are hooked up with Alaska Airlines.

They have very competetive mortgage programs.

I have banked with Credit unions, WA MU , Wells Fargo and the smaller local banks.

I came back to BofA a few years back and have been happy ever since.

YMMV

Junkie-

Bucko

According to the T&C and the rep I spoke with, BofA will match 100% of the rounded up amounts for the first 3 months. After that they will match 5% of the saved amount. It requires $100 to open. If you want to avoid the $3/month maintenance fee (I think that's right) then you'll need to deposit $300. One thing I might try to do more often is pay for those 99 cent items ($1.07 or so after tax) with my debit card. Thus, I'll save 93 cents and BofA will match it. It should keep my check register a little bit cleaner as well.

I agree with a previous poster that BofA covers most of this country - other than where I happen to live now (Mobile, AL area). I've had a great experience with them over the years and look forward to when my MBNA card switches over to BofA control as well.

the_traveler

Personally, I do not use a debit card. I'd rather get the FF miles! And since I pay off the balance in full every month, it is the same as using a debit card. (The only difference is that - depending on your account closing date - a purchase made with a CC on November 11 is due for payment on December 22, but if you use a debit card, it is withdrawn on November 11!)

I also like the national aspect of BOA. Even though my account is in RI, wherever I'm traveling, there is most likely a BOA. So even in FL, AZ or OR, I have access to my account. True, there are ATMs, but you don't have to deal with those 2-way extra fees (for using an ATM out of the network - you pay both your bank and the other bank a fee to use the ATM. )

samplat

I've been banking with BofA for many years now and have always found them to be very good. Their staff is quite friendly and helpful in the branches in my area. Maybe its a regional thing i.e. bad service in your area?

cordelli

Once my account is functioning, for three months I'll be debit carding everything. Free money, well it's just free money.

Amex, I believe is also doing the rounding up not sure if there is a match there or not.

const88

From T&Cs:
"Purchases with co-branded or rewards Visa debit cards are not eligible for matching."

mikeef

B of A has been okay, with the usual annoyances that come with a big bank.

I will say, though, for the next 3 months, the Starbucks card will get little use and the debit card will get more. It's like an 85-cent discount off my regular order, which comes out to $5.15.

Mike

Don in LA

OK, just so I'm clear on this: I buy an item for $1.07. BofA will give me the 93 cents to round it up to the nearest dollar AND match the 93 cents? So, in effect, I'm spending $1.07 and getting $1.86 in return? That sounds impossible, even for three months. If so, I could go to the 99 cents only store and keep buying solitary items: for every transaction, I get the purchased item (unless I decide to return it) essentially for free and an additional 79 cents? OK, granted they'd think I was a freak, but if I did that 100 times a day for three months I'd end up with...drumroll please... $7,110 for free (plus 9,000 99 cent items). If my math is wrong, tell me; otherwise, I'm sending Mrs. Don in LA off to BofA and then the 99 cent only store tomorrow.

cornellalum

Well it seems like they round up to the next dollar and match it.

http://www.bankofamerica.com/promos/...072g350000c329

But there's a $250 matching limit per year, if I read it correctly (see fine print at bottom...)

ql2112

It is more likely to go like this:
You buy something for $1.07. BoA charges you $2.00, 93cts of which go to the virtual piggy bank. Additionally they also put another 93cts in the piggy bank which they pay.
Essentially the same as if you had paid the $1.07 with $2.00 cash and put the change in a (real life) piggy bank yourself, only difference is that BoA will put another 93cts in the piggy bank.

bobmann

These amounts seem insignificant. I already have a BOA checking and savings account, so maybe I should just sign up. In fact, I already have a debit card from them. But I almost never use it, as I tend to use my Delta AmEx for everything. Even still, I only make maybe 20 credit card purchases per month. Say each of those purchases has an average roundoff total of 50 cents. If I switch all of those to the debit card, I'll be putting a grand total of $10/month into the savings account. For three months, BOA would match that. Okay, an extra $30; not bad. But after that, they match 5%. That would be 50 cents per month? That hardly seems worth it. I think I'll stick with the FF miles...