$250 from Bank of America Keep the Change(R) Program

Bank of America has a program called Keep the Change(R) and you can earn $250 from it. I have been a customer for a while but just recently found this out.

The program is FREE but you have to be a Bank of America customer to take advantage of the program and you will need the following from Bank of America:

1. Checking Account
2. Check Card
3. Savings Account

Let's see an example of how this works:

1. Use your check card to purchase daily item, for example: coffee $1.20.
   
2. Bank of America will round up your purchase amount to the nearest dolloar: $2.00 and move the difference: $0.8 from your checking account to your savings account.
3. Meanwhile, Bank of America will match that difference: $0.8 and credit it to your Keep the Change(R) Program.

Here is the important thing to get that $250 fast: Bank of America will only match 100% of that difference for the first 3 months after you enroll in the program. After that 3 months, they will only match 5% of the difference.

Here's the fine print on their web site:

The matching funds will be credited to your savings account annually, within 8 weeks after the month in which the anniversary of your enrollment in Keep the Change savings service occurs. To receive the matching funds, your checking and savings accounts must be open and in good standing, and you must still be enrolled in the service. Annual promotional match will not exceed $250.

So, it will take at least a year to claim your $250, but hey, it's free money, right?

Now, following are my ways to max. out that $250 in first 3 months:

1. Use the check card to pay cell phone bill in $1.01, $2.01, $3.01... I have T-Mobile and their online payment system won't allow same payment amount within 24 hours.
2. Use the check card to pay utilities bills.

If you do 5 transactions of $1.01 a day, you'll earn $4.95 ($0.99 times 5) in your Keep the Change Program. Repeat for about 50 days (less than 2 months) and you will max out the $250!

Be careful not to overdraw your checking account, otherwise you will be slap with those nasty overdraft fees.

Hey, what do you know, I have earned $25.74 this month already!

Click here to enroll or find out complete details on Bank of America Keep the Change(R) Program.