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Who has the time to stick to a savings plan? If you’re having part of your paycheck sent to your savings each pay period, you already know that making saving automatic is the way to go. Apps that round up purchases are everywhere, but our Spend to Save app does all the work for you
Spend to Save rounds up transactions you make using your Arsenal debit card and automatically deposits the change into your savings account. For example, if you make a $12.46 purchase, we round it up to $13.00 and transfer 54 cents to your savings account.
Unlike other round up savings apps, there are no additional downloads – you can view all Spend to Save transactions within online or mobile banking.
How much can I expect to save using round up savings apps?
Here’s what the average person pays each time they make a transaction at one of these popular retailers or service providers:
Starbucks: $2.30
Lowe’s: $65.74
Amazon: $36.35
Uber: $25.73
QuikTrip: $30.22
McDonald’s: $4.75
Schnucks: $217.09
With Spend to Save, you’d have an extra $3.82 in your savings account each week. In a year, you’d save an extra $198.64.
How do I get started?
First, you’ll need a checking account at Arsenal with a debit card.
Visit a branch or start a live chat and we’ll set you up on the spot.
After you enroll in Spend to Save, use your debit card and watch your account grow.
When viewing your online and mobile banking accounts, Spend to Save transactions will appear as “Deposit SPD2SAV Transfer.”
For accounting purposes, if more than one debit card transaction posts to your account in a calendar day, we total the change and transfer it to your savings accounts as a single, “Spend to Save” transaction. For example, if you make purchases of $12.64, $33.17 and $68.41, we transfer $1.78 to your savings account by adding 36 cents, 83 cents and 59 cents.
If the transfer of “Spend to Save” funds would result in an overdraft, the transfer will not occur.
