Scotiabank is giving Canadians the chance to save while they spend through its new “Bank the Rest” savings program.
The free debit card program helps people put money into their savings when they make everyday purchases with their ScotiaCard debit card. Clients can chose to round up their total purchase amount to the nearest dollar or five dollars, and have the difference automatically deposited into their high-interest savings account. For example, if a customer signed up to round up to the nearest dollar, and made a debit purchase for $7.25, 75 cents would automatically be transferred from their chequing account into the savings account.
“Canadians enjoy the flexibility of using their debit cards to make purchases, and we are building on that service to provide greater value to our customers by adding a savings option,” said Gillian Riley, Scotiabank managing director & head, retail deposits and services.
Scotiabank is supporting the new service with a national campaign, created by Bensimon Byrne in Toronto, which launched late last month. In-branch posters, online ads and TV commercials, running during the NHL playoffs, evening news and specialty channels, will run through June.
The microsite, BankTheRest.com, houses program information, a video demo and a savings calculator.
