Keep the Change does not automatically move to a new checking account
When you open a new checking account, Bank of America's Keep the Change program does not transfer over on its own. The savings account that holds your rounded-up deposits stays linked to your old account until you manually disconnect it or close the account entirely. If you want to keep using Keep the Change with your new account, you need to set it up again from scratch in your new account's settings.
The reason is straightforward: Keep the Change is tied to a specific checking account and its linked savings account. Bank of America treats them as a pair. When you move to a new checking account, that pairing no longer exists, so the program stops working. Your old savings account with the accumulated round-ups stays open and keeps your money—it does not disappear—but it sits idle unless you manually reconnect it or transfer the balance out.
Key Takeaways
- Keep the Change stops working automatically when you switch to a new checking account; you must set it up again in the new account's settings.
- Your old savings account with accumulated round-ups remains open and holds your money, but no new deposits flow into it once the checking account is closed or the link is broken.
- You can reactivate Keep the Change in your new account through the Bank of America mobile app or online banking in under five minutes.
- If you close your old checking account without moving the savings account balance first, you will need to contact Bank of America to access or transfer those funds.
How to set up Keep the Change on your new account
Log into Bank of America's mobile app or online banking with your new checking account. Navigate to the Transfers & Payments section, then look for the Keep the Change option under savings tools or account settings. The exact menu path varies slightly depending on whether you use the app or website, but the feature is always labeled "Keep the Change."
When you select it, you will see a prompt asking which savings account you want to link. You can either link an existing savings account (including the old one from your previous checking account, if you want to consolidate) or create a new savings account specifically for this purpose. Once you choose, confirm the setup and the program begins rounding up your debit card purchases on your new checking account when ready.
What happens to your old savings account with the round-ups
The savings account that collected your round-ups from your old checking account does not close automatically. It remains open in your name with whatever balance you accumulated. However, once your old checking account is closed or the link is severed, no new round-ups deposit into that savings account.
You have three options: leave the money there (it earns interest, though the rate is typically low), transfer the balance to your new Keep the Change savings account, or withdraw it. If you want to consolidate, you can move the balance through a standard transfer within your Bank of America accounts. If you close your old checking account without handling the savings account first, you will still own the money, but accessing it requires calling Bank of America at the number on the back of your debit card.
Timing: when Keep the Change stops and starts
Keep the Change stops working on your old checking account the moment you close it. If you close the account before setting up Keep the Change on your new account, there will be a gap where no round-ups are collected. To avoid losing any round-ups, set up the program on your new account before closing the old one.
The setup takes about five minutes, and the program begins working on your next debit card purchase after set up. There is no waiting period or processing delay—if you set up Keep the Change on a Monday morning and use your debit card that afternoon, that purchase will be rounded up and the difference transferred to your linked savings account within one to two business days.
If you want to keep the same savings account across both checking accounts
You can link the same savings account to both your old and new checking accounts temporarily, which means round-ups from both accounts flow into one place. This is useful if you are transitioning slowly or want to consolidate your savings. However, once you close your old checking account, the link to that account breaks, and only your new checking account continues to feed round-ups into the shared savings account.
To do this, set up Keep the Change on your new account and select the savings account that is already linked to your old account. Bank of America allows this overlap. When you are ready to close the old checking account, the savings account remains open and continues to receive round-ups from your new account without interruption.
Common mistakes that cost you round-ups
The biggest mistake is closing your old checking account without setting up Keep the Change on your new one first. This creates a gap where purchases are not rounded up. The second mistake is assuming the program transfers automatically and not checking whether it is active on your new account. Many people discover weeks later that they have not been accumulating round-ups because they forgot to reactivate it.
A third mistake is closing the old checking account without moving or withdrawing the savings account balance. The money does not disappear, but it becomes harder to access, and you lose the convenience of having it linked to your active checking account. Always handle the savings account before closing the checking account.
Frequently Asked Questions
Can I move my old Keep the Change savings account to my new checking account?
Yes. When you set up Keep the Change on your new account, select the existing savings account from your old checking account instead of creating a new one. The old savings account will now receive round-ups from your new checking account. Once your old checking account is closed, the savings account remains open and active.
What if I close my old checking account and forget to set up Keep the Change on the new one?
You will stop accumulating round-ups when ready. The money in your old savings account stays there, but no new deposits flow in. You can set up Keep the Change on your new account at any time to resume the program going forward. The old balance remains untouched until you move or withdraw it.
Do I lose the money in my Keep the Change savings account if I close my checking account?
No. The savings account is separate from the checking account. Closing the checking account does not close the savings account or touch the money in it. However, you will need to access it through Bank of America's website or app, or contact customer service to transfer or withdraw the balance.
How long does it take for Keep the Change to start working on my new account?
It starts when ready after you set up it. Your next debit card purchase will be rounded up, and the difference transfers to your linked savings account within one to two business days. There is no waiting period or processing delay.
Can I have Keep the Change on multiple checking accounts at the same time?
Yes, as long as you set it up separately on each account. Each checking account can be linked to its own savings account, or multiple checking accounts can feed round-ups into the same savings account. You manage each connection independently through your account settings.