Save The Change Equivalent


#1

Hi,

Are BNZ going to introduce their own equivalent to ASB’s “Save The Change” so your transactions will be rounded up to the nearest dollar and those cents will be moved to your savings account to help boost your savings? I can see it was mentioned here a few years ago but I cannot find anything further on this?


#2

What donthey do when you have
$8.10 cents?

There use to be a salami attack in 90s where round offs were siphoned off to a single bank account. So if you had say 130000 customers with $8.40. Then these 40 cents would go to a bank account as a round up. 40x130000 =???

Further i get so less interest on my general account that if they give me a rounded up balance it would be more than the interest they pay me.

Anyways would like to hear what is happening in this space.