Keep the Change turns small purchase amounts into automatic savings

Keep the Change is a Bank of America savings feature that rounds up debit card purchases to the nearest dollar and moves the difference into a linked savings account. If you buy coffee for $3.47, the program rounds to $4.00 and transfers $0.53 to savings. The rounding happens automatically each time you swipe your debit card, and the money goes directly into a savings account you link when you set up the program.

The program is optional. You decide whether to turn it on, which accounts to link, and you can pause or stop it at any time. Bank of America does not charge a fee to use Keep the Change, though your savings account itself may have monthly maintenance fees depending on which account type you choose.

Key Takeaways

  • Keep the Change rounds each debit card purchase up to the nearest dollar and moves the difference to a savings account you select.
  • The program works only with debit card purchases, not credit card transactions, checks, or ATM withdrawals.
  • You can set daily or monthly caps on how much the program transfers, so you control the pace of savings.
  • The money stays in your Bank of America savings account and earns whatever interest rate that account offers.
  • You can turn the program on or off anytime through your Bank of America online account or mobile app.

How the rounding and transfers actually work

Each time you use your Bank of America debit card, the system calculates the difference between what you spent and the next dollar amount. That difference moves to your linked savings account within one business day. If you make five purchases in a day for $2.15, $8.99, $12.50, $4.33, and $6.87, the program transfers $0.85 + $0.01 + $0.00 + $0.67 + $0.13 = $1.66 to savings.

You can set a daily limit (how much transfers per day) or a monthly limit (how much transfers per month). Once you hit that limit, the program stops rounding for the rest of the period. This prevents the feature from moving more money than you want, especially if you make many small purchases.

The money goes into whichever savings account you link when you set up Keep the Change. It stays there and earns the interest rate that account offers. You can withdraw it anytime, just like any other savings account balance.

Which purchases trigger Keep the Change and which do not

Keep the Change works only with debit card purchases made at merchants. Online purchases, in-store purchases, and recurring payments all count. The program does not round ATM withdrawals, checks you write, transfers between your own accounts, or credit card transactions.

If you use your debit card to pay a bill online or set up an automatic payment, those transactions round up. If you use a Bank of America credit card instead, Keep the Change does not explore — the program is tied to your debit card only.

Setting up Keep the Change and choosing your linked account

You can turn on Keep the Change through your Bank of America online banking account or the mobile app. Go to the Transfers & Payments section, find Keep the Change, and select which savings account to link. You must have a Bank of America savings account open before you start — the program cannot create one for you.

When you set it up, you will choose whether to set a daily cap, a monthly cap, or no cap at all. A daily cap might be $5, meaning the program transfers up to $5 per day and stops rounding once that limit is reached. A monthly cap might be $50, meaning the program stops rounding once $50 has transferred in that calendar month. You can change these limits anytime.

Once Keep the Change is active, it runs automatically. You do not need to do anything — the rounding and transfers happen behind the scenes with each debit card purchase.

What happens to the money and how much you might save

The rounded-up amounts sit in your linked savings account as regular deposits. They earn whatever interest rate that savings account pays. If your savings account earns 0.01% annual percentage yield, the interest will be small. If it earns 4.50% APY, the interest will be higher. The interest rate depends on which Bank of America savings account you link and current market conditions.

How much you save depends on how often you use your debit card and how many small purchases you make. Someone who makes ten $5 purchases per week will round up $0.50 per transaction, or $5 per week, or roughly $260 per year. Someone who makes one $50 purchase per week will round up $0.00 per transaction. The program works best for people who make frequent small purchases.

Pausing or stopping Keep the Change

You can pause Keep the Change temporarily or turn it off permanently anytime through your online account or mobile app. If you pause it, the program stops rounding new purchases but the money already transferred stays in your savings account. If you turn it off, no new transfers happen, and again, the money already saved remains in your account.

Turning off Keep the Change does not affect your debit card or your savings account. You can turn the program back on later if you change your mind.

Frequently Asked Questions

Does Bank of America charge a fee to use Keep the Change?

Bank of America does not charge a fee for the Keep the Change program itself. However, your linked savings account may have a monthly maintenance fee depending on which account type you choose. Check your account terms to see if your savings account has any fees.

Can I use Keep the Change with a Bank of America credit card?

No. Keep the Change works only with debit card purchases. If you use a Bank of America credit card, the program does not explore. You would need to use your debit card for the rounding feature to work.

What if I reach my daily or monthly cap before the month ends?

Once you hit your cap, Keep the Change stops rounding new purchases for the rest of that day or month, depending on which limit you set. The program resumes rounding on the next day or month. You can change your cap limits anytime through your account settings.

Can I withdraw the rounded-up money anytime I want?

Yes. The money in your linked savings account is yours to withdraw anytime, just like any other savings account balance. Withdrawing it does not affect Keep the Change — the program continues to round and transfer new purchases as normal.

What happens to Keep the Change if I close my debit card or savings account?

If you close your debit card, Keep the Change stops working because the program needs an active debit card to round purchases. If you close your linked savings account, the program pauses until you link a different savings account. The money already transferred stays in whichever account held it.