November 10, 1005 – Posted at 5:52 p.m. CDT
JONESBORO, AR -- With the recent tsunami and hurricanes that have destroyed homes and lives, there is a big push to donate to charity right now. And with many families fulfilling Santa’s list, it may be tough to save money, but a new program is helping folks keep the change.
“It's hard to save and give and buy a Christmas gifts and everything at the same time,” said Bank of America personal banker Seth Elder.
A new program through Bank of America is helping account holders save money.
“Every time you use your debit card with your checking account, it rounds up to the nearest dollar amount and deposits it into your savings account the difference. Where it helps you save is opposed to the large dollar amounts at one time, it's a little at a time,” said Elder.
After using the service for a year, Bank of America will match the saved change for the first three months, up to $250. After that, they match 5% of what you put in for the rest of the year, and for many customers, it's a win-win situation.
“It is easier to save smaller money. You don't miss it as much. You miss $50 out of every pay check or something like that, but you don't think about the extra fifty cents or twenty cents that comes out here and there,” said Elder.