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Keeping the Change - or not?

June 2nd, 2009 at 05:49 pm

I enrolled in the Bank of America Keep the Change program when it started. I always noticed that the transfer of the "change" isn't immediate. The "change" they deduct from your checking account is held one business day before returning it to you into your savings account. (I just called Customer Service to confirm that.)

If the bank "Keeps the Change" from all their customers for one business day, that's a great deal for them. But is it a great deal for the consumer?

When the program started, all the Keep the Change transfers were matched at 100%. But now the match is just 5% of the transfers.

Is Keep the Change really worth it?

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