Can get $250 for Bank of America Savings Account

[pomcoach]

We opened a Checking Account at Bank of America and with it comes a "Keep the Change" Savings account. I can get up to $250 for each Checking account I opened. Several years ago, my husband opened one. Each time we purchase something for $1.01, Bank of America gives you the change of $.99. Since when does a bank ever GIVE you anything?? Well, we really worked for the first 3 months to do lots of Debits and we got the match of $250. You don't get the money for a year, but in a year, we had a free $250 to spend at Disney. This year I just opened an account for myself and for my teenager. That will be another $250 plus $250, so in a year, we'll have $500 to use for spending money at Disney. It can be hard to do so many debits in 3 months, because they only match your change for the first 3 months. But we buy gasoline with the debit card and groceries and just every little thing for the first 3 months. Hey, it's free money. I will work for that!
Hope this can help someone with their spending money.
Pomcoach

 

[Green Tea]

My son just opened one as well. The first statement for the account came and I realized the bank was charging him $5 a month for the privilege of holding his money. $60 a year in service fee to get the use of his money.

 

[pomcoach]

Wow! You've got the wrong kind of account. We've never been charged anything for 5 years or ever. We have an Advantage Account and our teen is kind of an add on to our account. Maybe that's the difference.
Boy, I'd sure call the bank and have that changed. You don't want a charge of any kind.
Pomcoach

 

[lovemygoofy]

We have had Bank of America and save the change account for years now. It does give you the $250 the first year and then 3 or 5% the following years. Now it's not really the bank giving you money because if you charge $1.01 the bank actually takes $2.00 from your checking account and just deposits the $.99 into your savings account for you.

We like it because we use our card for everything and it helps with a bit of savings in addition to what regularly goes in there.

Bank of America does charge fees for not having enough money in the checking account or a savings account. Last year it was $3 a month under $300 (I think) and now it's $5 a month charge for not meeting the minimum in the account.

I like having my checking account and savings account linked in case an opps should happen and for whatever reason the checking account gets over drawn, money is pulled from our savings to cover it. Of course with a fee but I'd rather pay $10 than however much all the over draft fees add up.

 

[kim929]

Bank of America will MATCH 100 % what you save for the first three months (for the first yr you have keep the change) then they will match 5% up to a total of 250.00 for the year. You don't have to save the full 250.00 in the first 3 months, just thru the year. So if in the first 3 months you save 50.00 BOA will match that 50 on the year anniversary so you would have 100.00 so they do give you money. Its a great way to earn a little bit extra, but it's also getting you to save with the concept that you see the pennies add up what could you do with dollars....

As far as the fees go, you can open a my access checking online totally free, the savings account if you transfer 25.00 or more at least once a month your savings will be free ( you do have to set that up with customer service, but you can do that when you call to set up keep the change). If you already have the my access cking, you can open online, call to close out the old acct, but then you would have all new numbers, have to get new cks. debit card can just be linked to the new acct. a bit of a hassel at first, but then you would be saving the monthly maintence fee.

as far as the advantage account any acct you have linked under this relationship is free, but if you don't meet the qualifications, there is a 25.00 a month fee.

 

[MelanieC]

I need to look into this. DD17 is going to University of Missouri next year and needs to open a checking acct. I was told this is one that has an ATM on the campus.

 

[Mom2Ben02]

I work for BOA - it is a great product. Go to the gas station every day that first 3 months and put in 1.01 in gas a few times Adds up fast!

BOA has a "campus edge" product - they put a fee blocker on for 5 years. A savings account can be free too - go in and talk to a banker!

 

[wmharley]

We have had Bank of America and save the change account for years now. It does give you the $250 the first year and then 3 or 5% the following years. Now it's not really the bank giving you money because if you charge $1.01 the bank actually takes $2.00 from your checking account and just deposits the $.99 into your savings account for you.

yup.. they state that in their ads....

 

[timmac]

As a few PPs have alluded, in addition to the extra taken from your checking, they DO match that as well for a period of time. (The money they make from processing the debit transactions more than covers it I'm sure)

That said, I personally get a bit put-off from a lot of their advertising that includes the pull from your checking account into the figures for some of their other rebates, etc. That part of it isn't really a true rebate at all.

 

[jls886]

I need to look into this. DD17 is going to University of Missouri next year and needs to open a checking acct. I was told this is one that has an ATM on the campus.

Just so you know, I just graduated from Mizzou and my sister is still there, and it is UMB Bank that has an on campus branch. However, there are a few Bank of America locations around Columbia too, so that wouldn't be the end of the world. I just didn't want you to get a BOA account for just that purpose and then be disappointed when you arrive. She will love MU, feel free to PM me if you have any questions!

 

[a1tinkfans]

We opened a Checking Account at Bank of America and with it comes a "Keep the Change" Savings account. I can get up to $250 for each Checking account I opened. Several years ago, my husband opened one. Each time we purchase something for $1.01, Bank of America gives you the change of $.99. Since when does a bank ever GIVE you anything?? Well, we really worked for the first 3 months to do lots of Debits and we got the match of $250. You don't get the money for a year, but in a year, we had a free $250 to spend at Disney. This year I just opened an account for myself and for my teenager. That will be another $250 plus $250, so in a year, we'll have $500 to use for spending money at Disney. It can be hard to do so many debits in 3 months, because they only match your change for the first 3 months. But we buy gasoline with the debit card and groceries and just every little thing for the first 3 months. Hey, it's free money. I will work for that!
Hope this can help someone with their spending money.
Pomcoach

????????????
Gee, Keep the change doesn't pay YOU. The program was to take your "change", say you bought something for 1.49, they'd take 2.oo from your account (rounded up) and then the .51 goes into a checking account that you chose. Its your own money that they just rounded up, kinda as a forced way to save.
Perhaps you got a special promo to "match"? Good for YOU, 250 is nothing to szneeze at.
They did not offer that to us at all, and I have been with them since they were National Westminster, then Fleet, then BOA......I have no fees for any account and other "alleged extra's" (actually have many accounts with them). They just happen to be close by....and convenient......
but
I am now finding out some disturbing things with them and their connection to ACORN and am seriously considering moving ALL our banking from them. Looking into that now............

 

[bumbershoot]

It does seem that BOA has a special deal:

"We’ll even match your savings
We’ll match your Keep the Change savings for the first 3 months, to the penny. After that, we’ll continue matching 5% a year. The maximum total match is $250 per year."

 

[Green Tea]

BOA has a "campus edge" product - they put a fee blocker on for 5 years. A savings account can be free too - go in and talk to a banker!

He has a student account. $5 a month fee for the save the change part. Odd

 

[denisegold]

I have BOA, and I did the matching round up thing (well, I still do) but yes, the first 3 months was a 100% match, so every time I went to the gas station, I would pump to end at 1 cent, same whenever I paid at a restaurant- it would equal out to end in a penny. I didn't get the whole $250, but pretty close. After the 3 months, it's a 5% match, so we'll see in January how I did for the second year.
I like BOA because I live in Mass, and I travel to Florida a lot, so I can always find an ATM.

 

[TiggerStac]

I opened online in July, they were offering the up to 250 match that others are talking about.

I have no fees, due to opening online and having enrolled in KTC and having direct deposit.

I love KTC, makes it a lot easier on my checkbook...no pennys adding around, unless it's checks. I always enter the rounded up dollar amount into the register.

 

[pomcoach]

????????????
Gee, Keep the change doesn't pay YOU. The program was to take your "change", say you bought something for 1.49, they'd take 2.oo from your account (rounded up) and then the .51 goes into a checking account that you chose. Its your own money that they just rounded up, kinda as a forced way to save.
Perhaps you got a special promo to "match"? Good for YOU, 250 is nothing to szneeze at.
They did not offer that to us at all, and I have been with them since they were National Westminster, then Fleet, then BOA......I have no fees for any account and other "alleged extra's" (actually have many accounts with them). They just happen to be close by....and convenient......
but
I am now finding out some disturbing things with them and their connection to ACORN and am seriously considering moving ALL our banking from them. Looking into that now............

Tonight I bought gasoline 8 times for $1.01 each time! Each time it rounded it up to $2, so the other $.99 was put into my Savings (yes, a kind of forced way to make me save.) But also Bank of America matched that $.99 and put 8 X $.99 into my Savings also. That's free money for me, $7.92 was their money, now it will be mine, but I have to wait 1 year until they give it to me. I have no problem waiting for free money. There are no fees for this, no hidden fees, no ATM debit fees, nothing. I will debit as much as I darn need to, to reach the $250 that they'll give me. My teen daughter will too. She also has the Campus Edge checking, which has no fees in any way. We do have our House loan with Bank of America. I believe that's why we're eligible for the "Advantage Checking." But the main point is: in a year, we'll have $500 to spend at Disney and it will be a gift (match) from Bank of America.
Last night I heard on FOX News that Bank of America was not allowing ACORN to bank with them anymore, because of the scandal. I'd say that's a pretty decent thing for Bank of America to do, but that's just my opinion.

I was just trying to help people save some money for Disney. I don't work for Bank of America or own stock or anything.