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Bank of America keep the change question

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srtrooper
3/7/12 8:46 PM
according to this post, one person can open up to 5 CHECKING accounts and get 5 times
keep the change $250. This means one person can get $250 * 5 = $1250 in total.


questions are:
1) do I have to do the 5 keep the change in 5 years? or I can do them all together, as long as I have 5 checking accounts?
2) do I need to close the old checking account before opening a new one?
3) is it still a hard pull to open another new checking account?

Thanks
WikiPost
3/7/12 8:46 PM
kjgco
3/7/12 8:49 PM
srtrooper said:   

according to this post, one person can open up to 5 CHECKING accounts and get 5 times
keep the change $250. This means one person can get $250 * 5 = $1250 in total.


questions are:
1) do I have to do the 5 keep the change in 5 years? or I can do them all together, as long as I have 5 checking accounts?
2) do I need to close the old checking account before opening a new one?
3) is it still a hard pull to open another new checking account?

Thanks

Answers to all your questions can be found here.
ungar2000
3/7/12 9:00 PM
kjgco said:   

srtrooper said:   

according to this post, one person can open up to 5 CHECKING accounts and get 5 times
keep the change $250. This means one person can get $250 * 5 = $1250 in total.


questions are:
1) do I have to do the 5 keep the change in 5 years? or I can do them all together, as long as I have 5 checking accounts?
2) do I need to close the old checking account before opening a new one?
3) is it still a hard pull to open another new checking account?

Thanks

Answers to all your questions can be found here.



I agree. You really need to just read that entire thread because there is quite a bit to know to do it perfectly.
sun818
3/16/12 9:05 PM
My suggestion is to open one checking and one savings at a time. Trying to get $250 worth of keep the change in three months is harder than you think. Apply online at bankofamerica and they will set it up. There's no hurry. If you really want to open five at least space them out like one month apart. Again, it's very hard to push a lot of .01 type transactions through. I'm up to four now and lost interest after three. Been buying Amazon go each day for $1.01 but that only gives me $30 a month which only takes me to $90 by three months. So you have to triple your efforts to be successful. Not so easy. If you do three Amazon gc purchases they will freeze your account.
gizmosun
3/25/12 1:45 PM
sun818 said:   

My suggestion is to open one checking and one savings at a time. Trying to get $250 worth of keep the change in three months is harder than you think. Apply online at bankofamerica and they will set it up. There's no hurry. If you really want to open five at least space them out like one month apart. Again, it's very hard to push a lot of .01 type transactions through. I'm up to four now and lost interest after three. Been buying Amazon go each day for $1.01 but that only gives me $30 a month which only takes me to $90 by three months. So you have to triple your efforts to be successful. Not so easy. If you do three Amazon gc purchases they will freeze your account.



I am surprised at this. I am thinking of doing 1.0x, x=1 to 5 everyday. Will Amazon freeze my account if I purchase more than 1 gift card everyday?

I can't pay my utility bills in small increments and am already using the grocery store for RCA's. Is there another choice? I know serve allows 30 transactions a month. I tried Venmo but they clubbed my payments and posted it as a single transaction.
chiody
3/29/12 10:16 AM
srtrooper said:   

according to this post, one person can open up to 5 CHECKING accounts and get 5 times
keep the change $250. This means one person can get $250 * 5 = $1250 in total.


questions are:
1) do I have to do the 5 keep the change in 5 years? or I can do them all together, as long as I have 5 checking accounts?
2) do I need to close the old checking account before opening a new one?
3) is it still a hard pull to open another new checking account?

Thanks



I've recently finished qualifying for 5 $250 Keep The Change accounts. From November 2011 to early January 2012 is all it took to net $1250 due for disbursement 12 month post accounts opening date.

Key tips to remember.

Open the savings account with over $250 to fund the program as you accumulate the matching funds. I deposited about $300 each time to allow plenty of leeway.

I went to gas stations and utilized the debit function for .03-.05 cent purchases at major chain stations, Shell works very well, especially the company owned ones with the huge car washes. You can do a minimum of 1.2 transactions per minute with about 70 done per hour. Do the math...that's about $70 per hour into your keep the change account.

Remember there is NO monthly service charges for either accounts (checking or savings) as long as they are opened at the same time AND listed as Keep The Change. So currently I have 10 accounts opened with 8 of them with zero balances. 2 plus months have gone by and I assure you this is true. My other 2 accounts I'm using diligently BTW. Aocounts must be opened for at least 12 months to receive the matching funds. A total bank roll of $300 will do it because as soon as you qualify for the full $250, go to the branch and have your ~$300 rolled over into the next new Keep The Change accounts....repeat 4 more times....

It's really quite easy to do once you get the hang of it. Standing at a gas pump for about ~4 hours is tedious so spread it out over several days. But it WILL net you $250 each time. Note I did this in the evenings, in freezing Chicago temps. My motivation was thinking about the near $70 per hour benefit that kept me going. For you fair weather savers, NOW is a cinch to do this program. It's a lot of fun in the end. And a cool grand and some will come in handy huh? Good Luck.
chiody
3/29/12 10:30 AM
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dbl118
4/25/12 5:57 AM
The part about no fees for a zero balance needs to be checked...they change their terms often, but for every account I opened, there was a penalty if you didn't set up an automatic transfer or keep 300 in savings. The checking was free though.
gloreglabert
4/25/12 6:41 AM
chiody said:   


Open the savings account with over $250 to fund the program as you accumulate the matching funds. I deposited about $300 each time to allow plenty of leeway.



Don't you mean $250 in the checking account? Since KTC is doing a transfer from checking to savings? Then BEYOND that, you either need the $300+ in savings or an automatic $25/mo transfer to savings to avoid fees on the savings account.
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