Capital One is imitating Bank of America’s keep the change savings program with their own checking/savings account called SmartCents checking and Simple Savings account. This account helps you save money by transferring money from your checking into your savings account automatically, and matching a portion of that. In addition, you can qualify for an extra $30 bank bonus by setting up direct deposit and online bill payment.

To get this bonus, you have to complete the following:

• Open a SmartCents Checking account and a Simple Savings account
• Use your debit card and pay bills online to build up automatic savings
• As your savings grow, Capital One contribute to your goal as well

You can open an account online, calling 1.888.855.BANK or by visiting a local branch.

The SmartCents checking account features the following:

• No monthly maintenance or activity fees
• No minimum balance required
• Every time you make a debit card purchase or pay a bill online, Capital One will transfer 50¢ of your money from your
• SmartCents checking account to your linked savings account
• Capital One will match 100% of your eligible SmartCents transfers for the first three months, then 5% after that

Additional details:

• $30 total SmartCents Checking account bonus available to new to bank checking customers only
• Qualifying direct deposit includes payments such as payroll, pension, or Social Security to your checking account
• Bonus-eligible transactions must post within the first three months of account opening
• Capital One will match 100% of eligible SmartCents transfers made within the first three months after account opening for new to bank checking customers only.
• Thereafter, Capital One Bank will match 5%
• Existing customers who convert an existing Capital One Bank checking account to a SmartCents Checking account will receive a 5% match from the date of account conversion
• Maximum Capital One contribution through matching contributions and bonuses is $300 per anniversary year
• The matching funds and bonuses will be credited to the linked savings account annually and paid within 30 days of the anniversary date of the account opening
• $50 minimum account opening requirement for SmartCents Checking. Customer purchases checks. Personal accounts only
• Limit one personal SmartCents Checking account per customer

Capital One Bank is FDIC insured.