Canada - May 2008

The Canadian bank Scotiabank has recently launched “Bank the Rest”, a new painless savings solution for customers, which rounds up their debit card spending and transfers the extra money to a savings account. The amount of each purchase made using a debit a card is rounded up to the nearest dollar or five dollars and the difference is automatically transferred to a high savings account. Customers who sign up for this option can use it to pay in retail outlets, when paying online or for cross-border transactions. They can also calculate and track their savings on Scotiabank’s web site.

Keywords : savings account, savings account

Accounts : Scotiabank