I think this might be good for someone who can charge $1.01 every day without getting up. Keep in mind that you won't get the match until a year after starting this ordeal, so you need to keep both checking and savings open at least until then. Plus the match is reported as interest income. Jeez do they make you work hard for the money!

does a person have to use a PIN number for these transactions? or can they just sign for these transactions?

chan101qua said:it's not worth it. period

agreed

If you have 2 paypal accounts: send money from one paypal account to another in 1.01 incriments ... or "use" your friend. i know im evil.

I agree...FF are more frugal than HD'ers....love it!

ctrain said:If you don't have access to a CC machine, the easiest way would be if you eat fast food regularly or something.
Many McDonalds, Wendys, etc.. takes CC now.

So if you eat there and usually order 4 $1 items you always do this:
Order one $1 item, pay with CC, then say opps, I mean to order more.(remembered its $1 + tax)
Order one or two more $1 items, and then so eat.
On your way out, maybe order one more $1 item.

So you can actually get 3 transactions per visit but of course this is for people who likes to eat fast food regualrly.

For those who suggest buying a packs of gum and such, its like you're wasting $1.01 buying uncessary items to get $.99 FREE.

Another good way would be paying for gas twice per pump or something..

Well, this will give people another excuse to eat fast food regularly.

Has anyone actually joined this program yet? I went to my local BoA in San Jose, CA and they didn't have much information on it yet. The representative had heard about it but said she'd need to call up to find out how to join etc... I said I would come back later when they have more information.

link626 said:how many transactions? 250? 100? 50?

get outttta heeeeeere...........

I don't even buy stuff that often. I'm not gonna spend more money just to earn up to $250. And the things that are $1.01 are overpriced anyway.

saving 50 cents at a time. PFFFFFFFTTTTT!!

If I buy $50.75 worth of groceries, they move 25 cents from my checking account, and give me an extra 25 cents.

50 cents! I'M RICH BEEEEEEOTCH!gtfo

wrx2004 said:Where did you get this information from?

samko said:Not available in CA

Spoke with a phone rep.

first of all it won't work online etc, since to do debit you need a pin # at time of sale.

it would work if you have access to a corporate credit card machine; however:
1) charging a reasonable amount like $5.01 wouldn't work because after 250 charges, that's $1252.50 plus $248 in money moved from checking to savings. The employer would have to return your $1252.50, PLUS businesses get charged for debit transactions. I think 15 to 19 cents is the most common. businesses still like debit more than credit because that's ALL They pay, where on a $2000 tv they pay ~1.5-2% plus the same 15 to 20 cents. not to mention it'll show up as some kind of fraud on BoA's radar and they undoubtedly reserve the right to close your account at any time.