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I was just reading about this on my online banking thing with Lloyds.
Basically you buy something with your debit card for £23.65, when it comes out your account it also takes 35p and puts it in your e-savings account, so you have spent £24.00 overall. If you spent £5.99 it would take an extra penny and put it in savings, if you spent £150.05 it would take 95p and put it in savings - get the idea ?
Thought it might be a good way of saving those extra pennies for christmas if you bank and save with lloyds and use a debit card.
They DON'T do the savings transfer part if to do so would take you over an overdraft limit etc.
If anyone uses it be interesting to know how it works out how much you build up etc or if there are any downsides to it ?
Basically you buy something with your debit card for £23.65, when it comes out your account it also takes 35p and puts it in your e-savings account, so you have spent £24.00 overall. If you spent £5.99 it would take an extra penny and put it in savings, if you spent £150.05 it would take 95p and put it in savings - get the idea ?
Thought it might be a good way of saving those extra pennies for christmas if you bank and save with lloyds and use a debit card.
They DON'T do the savings transfer part if to do so would take you over an overdraft limit etc.
If anyone uses it be interesting to know how it works out how much you build up etc or if there are any downsides to it ?
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