So many of our customers have switched to using their Pioneer Bank Visa® Debit Card for payment solutions and shopping over cash. Remember when you would use cash and put the change in a jar for a rainy day? With Pioneer Bank Round-Up Savings, you are doing the same thing. Round-Up Savings takes the guesswork out of saving by automatically depositing into your savings account each time you make a purchase with your debit card. Choose to round up your purchases to the nearest dollar and send the remaining change to your savings account.
Much like your old cash jars, round-up savings are also based on the principle that small amounts of money can add up to significant savings over time.
For example, let’s say a round-up user makes a purchase for $30.25. They’d have 75 cents remaining in change if they were paying with cash. With round-ups, Pioneer Bank will round up the value of the transaction and transfer that 75 cents into a savings account. While saving 75 cents may not sound like much, any jar saver who ever went to the bank with $100 in change will attest that putting away small amounts can add up fast.
It’s easy to sign up! Just visit any one of our local branches to speak with a Pioneer Bank Team Member, and they will be happy to set it up for you.
Round Up Savings Program Terms & Conditions ELIGIBILITY You must have a Pioneer Bank Visa® Debit Card, a personal checking account and an additional account to receive the transfer deposits. This program is not available to Business or Money Market. ENROLLMENT You may enroll or unenroll at any time at any branch location or through the bank’s website at Pioneerbnk.com. Enrollment is associated with the checking account and the program will apply to all active debit cards associated with the enrolled checking account. You cannot enroll or remove individual debit cards associated with your checking account. If you enroll and later receive a new debit card due to your card being lost, stolen or reissued, your participation in the program will continue. HOW IT WORKS Each debit card purchase made by you will be rounded up to the nearest dollar amount, as chosen by you at the time of enrollment. Transfers will be completed in one lump sum the next business day and credited to your designated savings or checking account. The debit transfer description will say: POS ROUND UP WITHDRAWAL. The credit transfer description will say: ROUND UP DEPOSIT FROM CHECKING. Whole dollar transactions do not qualify and will not be rounded up. If the available amount of the checking is less than the aggregate transfer amount, the transfer will not occur. Certificates of Deposit and Individual Retirement Accounts are not eligible to receive a transfer. WHAT IS A QUALIFYING PURCHASE? Any card-present signature purchase or Personal Identification Number (PIN) purchase transaction made using a Pioneer Bank Visa® Debit Card. WHAT IS NOT A QUALIFYING PURCHASE? Any cash withdrawal from an ATM or over-the-counter cash withdrawal; bill payment transactions using Online Banking; cash back received at a point-of-sale device; Online Banking transfers between checking and savings; and electronic one-time or recurring ACH debit transactions. ACKNOWLEDGEMENT By my signature below, I agree to and confirm my understanding of the Terms & Conditions stated above and wish to enroll in Pioneer Bank’s Round Up Program. I authorize Pioneer Bank to round up any qualifying debit card purchase made from my enrolled checking account to the nearest dollar amount as chosen by me and transfer the round up amount to my designated savings/checking account. Please retain a copy of these Terms & Conditions for your records.