A great idea from my Bank ?!?

iVillage Member
Registered: 04-10-2003
A great idea from my Bank ?!?
Thu, 08-09-2012 - 9:16am

So as I have mentioned, I am in the process of amalgamating all of my accounts into once place. It has taken me a LONG time to do this :smileysad:

But, I was on the phone with my new bank the other day because I needed to figure out how to move an automatic transfer, and the guy on the other end was awesome. He told me about their no cost e accounts (which are like the ING direct accounts) only they are under my banking umbrella. I CAN access them through debit or teller in the case of a true emergency (with a $5 charge of course) or I can treat them like my ING account where it will take a day to transfer over. I opted to not even include them on my debit card so I can't get to them.

Anyways, what I thought was REALLY cool was that he suggested I check my account everyday (which I already do) and if the balance is not an even dollar (i.e. 451.72), transfer the 0.72 over to one of the e-accounts.  You may remember I was doing this to pay off my CC balance, but I couldn't do it for savings because the bank (or ING, can't remember) wanted a $10 minimum to transfer.

Its a small thing, but I bet it could reallly add up over time. Heck, even if you average 0.50 a day, that's an extra $180 over the course of a year.

Small things :smileyhappy:

Bex -

iVillage Member
Registered: 03-15-2012
Thu, 08-09-2012 - 9:28am

I worked with a gal years ago (we worked at a bank at the time) who did this very thing.  She checked her bank account regularily and transferred over money to her savings only I think she did it in $5 increments - meaning she left her checking account at a balance ending in $5 or $0.  I have learned that every little bit adds up over the years!



Community Leader
Registered: 08-25-2006
Thu, 08-09-2012 - 12:34pm

I think that is a great idea.  I have heard of similar things before, but not this exact one.  It is essentially an electronic change jar!  Boy, I am clever this morning, aren't I?


iVillage Member
Registered: 04-08-2008
Thu, 08-09-2012 - 11:55pm
Yes, very clever :smileyhappy:

iVillage Member
Registered: 04-10-2003
Fri, 08-10-2012 - 8:37am
I LOVE it . . . my virtual change jar! So far I've added a whopping $0.70 . . . but more will come :smileyhappy:

Bex -

iVillage Member
Registered: 10-01-2008
Fri, 08-10-2012 - 2:43pm

Baby steps.....I love the idea!



"Patience is the best remedy for every trouble"- Plautus