Keep the Change saves money automatically, but only if you use your debit card regularly and don't mind the small amounts adding up slowly
Keep the Change is Bank of America's round-up savings program. When you swipe your debit card, the purchase rounds up to the nearest dollar, and the difference moves into a linked savings account. A $3.47 coffee becomes $4.00, and $0.53 goes to savings. Bank of America matches 5% of your round-ups each month, up to $5 per month in matching.
Whether it's worth using depends on three things: how often you use your debit card, whether you have a savings account to link it to, and whether you'd actually save that money anyway. If you rarely swipe your card or already have a better savings habit, the program does almost nothing. If you spend $50 a day on your debit card, you might round up $15 to $20 a month—plus $0.75 to $1 in matching.
Key Takeaways
- Keep the Change rounds debit card purchases to the nearest dollar and deposits the difference into your savings account, with Bank of America matching 5% of round-ups up to $5 per month.
- You need a Bank of America checking account and a linked savings account to use the program; it only works with debit card transactions, not credit cards or cash.
- The program saves you money only if you use your debit card frequently and would not have saved that money through other means.
- The matching bonus ($0.75 to $5 per month) is modest compared to what you could earn in a high-yield savings account earning 4% to 5% annual interest.
- Keep the Change works best as a passive habit-builder for people who spend mostly by debit card and struggle to save any amount at all.
How much money actually accumulates
The math depends entirely on your spending. If you make 10 debit card purchases a day at an average of $25 each, you round up roughly $1.25 per transaction. Over a month, that's about $37.50 in round-ups, plus $1.88 in matching (5% of $37.50). Total: $39.38 added to savings.
If you make 3 debit card purchases a day at an average of $15 each, you round up roughly $0.50 per transaction. Over a month, that's about $45 in round-ups, but the matching caps at $5 per month. Total: $50 added to savings.
If you make 1 debit card purchase a day, you round up roughly $0.50 per transaction. Over a month, that's about $15 in round-ups, plus $0.75 in matching. Total: $15.75 added to savings.
The program does not work with credit cards, online purchases, or cash withdrawals—only debit card transactions at physical or online merchants. If you pay most bills by automatic transfer or credit card, Keep the Change will not touch those payments.
The matching bonus is smaller than it sounds
Bank of America matches 5% of your round-ups each month, capped at $5. That sounds generous until you compare it to what your money could earn elsewhere. A high-yield savings account at an online bank currently earns 4% to 5% annual interest. If you save $50 a month through Keep the Change, a high-yield account would earn you $2 to $2.50 per year on that balance—roughly the same as the $5 annual matching from Bank of America, but on a much larger pool of money over time.
The real value of the matching is not the money itself but the nudge to save. If you would not save that $50 a month any other way, the $5 annual bonus is a bonus. If you already save money regularly, the matching is negligible.
When Keep the Change actually works
The program is most useful for people who spend almost entirely by debit card and have no other savings habit. If you buy coffee, lunch, and gas with your debit card every day, and you never set aside money on purpose, Keep the Change forces a small amount into savings without requiring you to think about it. The friction is zero—you do not have to log in, transfer money, or make a decision.
It also works if you have a Bank of America checking account and already maintain a linked savings account. There is no extra setup cost, and the matching is automatic. You turn it on once and forget it.
Keep the Change does not work if you pay most expenses by credit card, automatic bill pay, or bank transfer. It does not work if you rarely use your debit card. It does not work if you already have a disciplined savings plan or access to a high-yield savings account earning 4% or more.
Comparing Keep the Change to other savings methods
| Method | How it works | Monthly savings (example) | Annual return on $600 saved |
|---|---|---|---|
| Keep the Change | Round-ups on debit card purchases, 5% matching capped at $5/month | $50 in round-ups + $5 matching = $55 | $5 in matching (no interest on balance) |
| High-yield savings account (4.5% APY) | Deposit money manually or set up automatic transfer | $50 (you decide the amount) | $27 in interest |
| Automatic transfer to savings | Bank moves a set amount from checking to savings each payday | $50 (you decide the amount) | $0 to $27 depending on account type |
| Money market account (4.75% APY) | Deposit money manually; higher interest, limited withdrawals | $50 (you decide the amount) | $28.50 in interest |
If your goal is to earn the most return on savings, a high-yield savings account or money market account beats Keep the Change. If your goal is to save money without thinking about it, Keep the Change and automatic transfers are roughly equal—but automatic transfers let you save any amount you choose, not just round-ups.
The real cost: your money stays in a low-interest account
Bank of America savings accounts earn very little interest—typically 0.01% APY or less, depending on your account type. If you save $600 a year through Keep the Change and it sits in a Bank of America savings account, you earn roughly $0.06 in interest. The $5 annual matching is the only real return.
If you moved that same $600 to a high-yield savings account earning 4.5% APY, you would earn $27 in interest per year. Over five years, the difference is $135 in lost interest. Keep the Change does not prevent you from moving money to a better account later, but most people do not bother—the money stays where it lands.
Frequently Asked Questions
Do I need a Bank of America savings account to use Keep the Change?
Yes. You need both a Bank of America checking account (where the debit card is linked) and a Bank of America savings account (where the round-ups deposit). If you do not have a savings account, you can open one, but it will earn minimal interest.
Does Keep the Change work with credit cards?
No. The program only works with debit card transactions. Credit card purchases, online bill pay, and cash withdrawals do not trigger round-ups. If you pay most expenses by credit card, Keep the Change will not save you much money.
Can I turn off Keep the Change if I change my mind?
Yes. You can disable the program anytime through your Bank of America online account or mobile app. Any money already saved stays in your savings account. There is no penalty for stopping.
What happens if I overdraft my checking account?
Bank of America will not round up a transaction if it would overdraft your account. The transaction goes through, but no round-up occurs. This is a safety feature, but it also means Keep the Change does not work during months when your balance is tight.
Is the 5% matching may provide every month?
Bank of America can change or end the matching program at any time. It is not a permanent feature. The program has been stable for years, but there is no contract guaranteeing the matching will continue indefinitely.