Debit Card Round Up
Feeling the pinch? Save with every swipe. An automatic savings tool that adds up all the small change from your everyday TSB debit card purchases and sends it to your savings – plus we’ll match it, up to $50*, to support your savings plan.
Features
- A simple method that can turn all the small change from your purchases into big savings over time.
- Every tap, swipe, online or recurring payment gets calculated into your savings with an enrolled TSB debit card.
- We’ll match every Round Up amount and make a daily deposit into your savings account.
- Watch your savings add up in Online Banking or the TSB Mobile App.
How it Works
- Enroll the TSB debit card you use for daily purchases.
- Make everyday purchases using your card.
- We will round up each purchase to the nearest dollar and a single Round Up transfer is automatically made from your checking account to your savings account.
- Get rewarded, we’ll match up to $50 per calendar year.
How to Enroll
All you need is a TSB checking account with a debit card and a savings account.
Need to open an account?
Choose a checking and savings account. Visit a branch or open an account online, and then follow instructions from the Already a customer section.
Already a customer, and ready to enroll?
Simply log in to your Online Banking. Select “Profile>Banking Services>Request Forms” and then choose Debit Card Round Up Request from the list. Complete and submit .
You can also visit any branch location or contact the Customer Care Center at (860) 496-2152 to enroll and automatically start saving all that small change.
FAQs
Once enrolled you can view the withdrawals labeled as “Debit Card Round Up Withdrawal Transferred to Savings Account”.
Once enrolled, track your round up transactions via your designated Checking and Savings accounts through Online Banking, Mobile Banking, or by reviewing your monthly statements.
The round up amount from your TSB debit card purchases are aggregated and transferred at the end of each business day from your checking account to savings account.
The TSB match amount will be deposited at the end of each business day to your selected savings account.
You will see two deposits made into your savings account.
If you don’t have sufficient funds available in your checking account, TSB will not round up purchases posted on that business day and subsequently no TSB match made.
Once enrolled, you can view your deposits labeled as “Debit Card Match Int Credit” in your selected savings account.
Yes, if the TSB match is equal to or exceeds $10.00, you will receive a 1099-INT at the end of each calendar year for tax reporting purposes reflecting the total match amount credited.
Debit Card Round Up Details:
Program subject to change without notice: other restrictions may apply. You must have ownership or authority on the accounts to enroll.
Health Savings, IRA accounts and business debit cards are ineligible. To receive round-up funds, checking and savings accounts must be open, in good standing and enrolled in the Debit Card Round Up program. You must be enrolled in Debit Card Round-Up Program to qualify for the Debit Card Round-Up Match Program. The match is calculated at the end of each business day, after the round-up transfer has posted, Torrington Savings Bank will calculate the total match amount and apply it as a single credit to your enrolled savings account.
*For tax reporting purposes, you will receive a 1099-INT at the end of each calendar year reflecting the total bonus amount credited. The Debit Card Round-Up Program and Debit Card Round-Up Match Program will be displayed daily as separate transactions on your impacted account statements. For full details please refer to our terms and conditions.
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