"Keep the Change" is a popular savings program offered by Bank of America that helps you save money passively by rounding up your debit card purchases to the nearest dollar and transferring the difference to your linked savings account. While it's a fantastic way for many to build their savings without actively thinking about it, there might come a time when you decide it's no longer the right fit for your financial strategy. Perhaps you're consolidating accounts, prefer more direct control over your savings, or simply want to streamline your banking.
Whatever your reason, turning off "Keep the Change" is a straightforward process. This comprehensive guide will walk you through each step, ensuring you can easily manage your Bank of America accounts.
Let's get started!
Step 1: Are you absolutely sure you want to turn it off?
Before we dive into the "how-to," let's take a moment to consider why you're thinking of disabling "Keep the Change." This program has helped countless individuals accumulate savings without much effort. Are you sure you won't miss those small, consistent transfers adding up over time? If you're looking for alternative savings methods, consider setting up automatic transfers of a fixed amount from your checking to your savings, or exploring other budgeting tools. However, if you've weighed your options and are ready to proceed, then let's move on!
Step 2: Understanding Your Options for Disabling "Keep the Change"
Bank of America provides a few ways to manage your account features, including the "Keep the Change" program. While there isn't an direct online button to toggle it off, you have excellent options available:
Sub-heading: The Most Direct Path: Calling Customer Service
This is generally the easiest and quickest method to disable "Keep the Change." A customer service representative can directly access your account and make the necessary adjustments.
- Bank of America Customer Service Number: 1-800-432-1000
- Operating Hours (ET):
- Monday - Friday: 8 a.m. - 11 p.m.
- Saturday - Sunday: 8 a.m. - 8 p.m.
- International Collect (if outside the U.S.): 1-315-724-4022 (cell phone roaming charges may apply)
What to expect when you call:
- Automated System Navigation: You'll likely encounter an automated menu. Listen carefully for options related to "account services," "managing features," or "speaking with a representative." You may need to enter your account number or other identifying information.
- Verification: Once connected to a representative, they will need to verify your identity. Be prepared to provide information such as your full name, address, date of birth, and potentially the last few digits of your Social Security Number or account number.
- State Your Request Clearly: Politely inform the representative that you wish to turn off the "Keep the Change" savings program on your Bank of America account.
- Confirmation: The representative will confirm that the program has been deactivated. They might offer alternative savings solutions or ask for your reason for canceling, but you are not obligated to provide detailed explanations.
Sub-heading: In-Person Assistance: Visiting a Financial Center
If you prefer face-to-face interaction or need assistance with other banking matters, visiting a Bank of America financial center is a viable option.
- Locate a Financial Center: Use the Bank of America website or mobile app to find the nearest financial center to you.
- Schedule an Appointment (Recommended): While not always necessary, scheduling an appointment can minimize your wait time and ensure a personal banker is available to assist you. You can usually schedule appointments online through the Bank of America website.
- What to bring: Bring a valid government-issued ID (like a driver's license or passport) and your Bank of America debit card or account information.
- Speak with a Personal Banker: Explain to the personal banker that you would like to disable the "Keep the Change" program. They will guide you through the process and confirm its deactivation.
Sub-heading: Online Banking - Limited Direct Control (but good for other insights)
While Bank of America's online banking platform and mobile app are incredibly powerful for managing various aspects of your accounts, they do not currently offer a direct self-service option to disable "Keep the Change." However, you can still use online banking to:
- Monitor your savings: See how much "Keep the Change" has accumulated in your savings account before you turn it off.
- Manage linked accounts: Ensure your checking and savings accounts are properly linked, as "Keep the Change" relies on this connection.
- Access contact information: Easily find the customer service phone number or schedule an appointment for a financial center visit.
Step 3: Confirmation and What Happens Next
After you've successfully communicated your request to disable "Keep the Change" via phone or in person, here's what you can expect:
Sub-heading: Receiving Confirmation
- Verbal Confirmation: The representative or personal banker will confirm verbally that the "Keep the Change" program has been deactivated on your account.
- No Further Round-Ups: You will no longer have your debit card purchases rounded up to the nearest dollar and transferred to your savings account. Any pending round-ups from transactions made before deactivation should still process.
- Monitoring Your Account: It's a good practice to monitor your checking and savings accounts for a few days after deactivation to ensure no further "Keep the Change" transfers occur. You can do this easily through online banking or your mobile app.
Sub-heading: What Happens to Your Accumulated Savings?
The money already accumulated in your linked savings account through the "Keep the Change" program remains in your savings account. Disabling the program only stops future round-up transfers; it does not withdraw or move your existing savings. This money is yours to keep and manage as you see fit.
Sub-heading: Re-enrolling in the Future
Should you change your mind and wish to re-enroll in the "Keep the Change" program at a later date, you can typically do so through Bank of America's online banking, mobile app, or by contacting customer service again. The process for enrollment is usually quite straightforward, requiring you to have a Bank of America checking account, a savings account, and a Bank of America debit card.
Step 4: Considering Alternative Savings Strategies
Now that "Keep the Change" is off, you might want to consider other ways to continue building your savings. Here are a few popular options:
Sub-heading: Setting Up Automatic Transfers
- Fixed Amount Transfers: This is a classic and effective method. Set up a recurring transfer (e.g., $50 every payday) from your checking account to your savings account. This automates your savings and ensures consistency.
- Percentage-Based Transfers: If your income varies, consider transferring a set percentage of each paycheck to your savings.
Sub-heading: Utilizing Budgeting Tools
- Bank of America's Spending & Budgeting Tool: Bank of America offers its own tools within online and mobile banking to help you track your spending and create budgets.
- Third-Party Budgeting Apps: Explore popular budgeting apps like Mint, YNAB (You Need A Budget), or Personal Capital, which can provide more detailed insights and help you set and achieve financial goals.
Sub-heading: Exploring Other Savings Programs
Keep an eye out for other savings programs or incentives offered by Bank of America or other financial institutions that might better suit your current financial objectives.
Frequently Asked Questions (FAQs)
How to re-enroll in Bank of America's "Keep the Change" program?
You can typically re-enroll in the "Keep the Change" program through your Bank of America online banking account, the mobile app, or by calling customer service at 1-800-432-1000.
How to check how much "Keep the Change" has saved me?
You can view a summary of your "Keep the Change" savings by logging into your Bank of America online banking account or mobile app and navigating to your linked savings account.
How to know if I am eligible for "Keep the Change"?
To be eligible for "Keep the Change," you generally need an active Bank of America checking account, a Bank of America savings account, and a Bank of America debit card.
How to find my nearest Bank of America financial center?
You can find your nearest Bank of America financial center by using the "Locations" feature on the Bank of America website or mobile app.
How to contact Bank of America customer service from outside the U.S.?
If you are outside the U.S., you can call Bank of America customer service collect at 1-315-724-4022.
How to set up automatic transfers for savings at Bank of America?
You can set up automatic transfers between your Bank of America accounts through online banking or the mobile app by selecting the "Transfers" option and scheduling a recurring transfer.
How to verify my identity when calling Bank of America customer service?
When calling, be prepared to provide personal information such as your full name, address, date of birth, and potentially the last four digits of your Social Security Number or your account number.
How to access Bank of America online banking?
You can access Bank of America online banking by visiting the official Bank of America website and logging in with your User ID and Passcode.
How to use the Bank of America mobile app for account management?
Download the Bank of America mobile app from your app store (Google Play or Apple App Store), log in with your credentials, and you can view balances, transactions, and manage many account features.
How to get help with other Bank of America account features?
For assistance with any other Bank of America account features or questions, you can always refer to the extensive "Help & Support" sections on their website, use the Erica virtual assistant in the mobile app, or contact customer service directly.
