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    Round Up FAQs

    Overview

    My Savings Accelerator” is a suite of automated savings tools consisting of “SmartSave” and “Round Up” designed to help you move money from your checking account into your savings account over time.
    Round Up is a simple way to grow your savings every time you make a debit card purchase.

    Round Up helps you save by rounding up your debit card purchase amounts to the nearest dollar. Your Round Up amount is automatically transferred to your designated Commerce savings account. Plus, you can choose the amount you Round Up.
    Round Up makes saving easy! Round Up helps you save by automatically moving money to your designated savings account. Pay yourself and turn your spare change into savings!
    No, there is no charge to use Round Up.
    Yes, if your checking account has a monthly fee. All checking account terms still apply.
    To participate in Round Up, you’ll need a personal checking account with a debit card and a savings account at Commerce, as well as Online Banking or the Commerce Bank Mobile App. Your accounts must be in good standing and have sufficient balances to be eligible for the program.

    You pick the amount you want to add to your dedicated Commerce Bank savings account with each debit card purchase. 

    • Choose $1, we round up to the nearest dollar.
    • Choose $3, we round up to the nearest dollar and add $2 more.
    • Choose $5, we round up to the nearest dollar and add $4 more.

    We’ll round up every debit card purchase, including whole-dollar amounts, and automatically transfer that amount to your savings account as a separate transaction. See “TRANSFER” section for details on when Round Up transfers occur. On days you have multiple debit card purchases, we’ll add up all of your daily round ups and make one transfer to your savings.

    Debit Card Transactions
    (for one day)    		 $1 Round Up $3 Round Up $5 Round Up
    $5.75 Coffee Purchase $0.25 $2.25 $4.25
    $8.25 Sandwich Purchase $0.75 $2.75 $4.75
    $45.63 Gas Purchase $0.37 $2.37 $4.37
    $48.00 Walmart Purchase (Whole-dollar amount) $1.00 $3.00 $5.00
    Round Up Transfer to Savings for the Day $2.37 $10.37 $18.37
    The following will be rounded up: “DEBIT CARD PURCHASE”, “DEBIT CARD PURCHASE – PIN” and “DEBIT CARD RECURRING PAYMENT”.
    Yes, you can create multiple goals; for example — ‘vacation fund’ and ‘retirement’ and direct your savings to those goals. All deposits into your designated Commerce Bank savings account will be allocated to your goals. You’ll also have a Core Savings Goal for any funds in your account that aren’t allocated toward a specific goal.
    Your Core Savings Goal is the portion of your designated savings account balance that does not have a goal assigned to it. Your Core Savings Goal balance, plus the sum of your goal balance(s), will equal the total balance in your savings account. Note: If you choose not to set up a goal(s), a Core Savings Goal will not be established.

    Enrollment

    Just complete the enrollment within Online Banking or the Commerce Bank Mobile App and we’ll do the rest!
    It takes just a few minutes to select the account you wish to enroll, choose your Round Up amount, and to set up your goals (optional). 
    Certain eligibility requirements must be met in order to enroll. See “Who is eligible for Round Up?” above. If you have questions, please contact us at 833-643-4125.
    No. Only Commerce Bank savings accounts are eligible for the Round Up program. Money market accounts are not eligible.
    No. You may only link one designated Commerce Bank checking account and one designated Commerce Bank savings account for Round Up. Money market accounts are not eligible.
    No. Despite the number of accounts you have, you may only enroll for one product — either Round Up or SmartSave — at a time.
    The program will Round Up purchases from all debit cards linked to the enrolled checking account.  

    Transfers

    Debit card transactions that are displayed in the ‘Posted’ section of Online Banking or Mobile Banking the Business Day after your enrollment date will be rounded up.

    Round Up transfers take place on the Business Day after your debit card transaction displays in the ‘Posted’ section of Online Banking or Mobile Banking.

    PIN Transactions generally display in the ‘Posted’ transactions section of your account the same day or next business day, depending on whether they were made before or after the 7:00 p.m. cut-off time.

    Non-PIN Transactions, including transactions using the tap feature, will be shown in Account Activity in the ‘Current’ transactions section when the merchant presents the transaction to us for authorization. When the merchant presents the final transaction, up to three business days later, the debit card transaction will be displayed in the ‘Posted’ section.

    My debit card transaction displays in the 'Posted' section of Online Banking or Mobile Banking on a: My Round Up transfer to Savings will occur:
    Monday
    Most PIN Transactions you make beginning Friday after 7:00 p.m. through Monday before 7:00 p.m. will post with Monday’s Business Date.    		 Tuesday
    Tuesday Wednesday
    Wednesday Thursday
    Thursday Friday
    Friday Saturday
    Round Ups are accumulated throughout the day and transferred once per day as a separate transaction. The total transfer amount will be displayed as one daily transaction on your statement. Round Up transfers can occur Tuesday through Saturday.
    Round Up transfers will normally occur between 8:30 and 9:30 a.m. Central Time. The transfer will show in the ‘Current’ transactions section of Account Activity temporarily before it moves to the ‘Posted’ section of Online Banking or Mobile Banking.
    Yes. Transfer limits are in place to ensure that the program builds your savings over time without overextending you. These limits vary by customer. The max amount that can be transferred in a single day is $50 and the max amount that can be transferred in a single month is $650. You have the ability to lower the max amount that can be transferred in a single month.  If you’d like to customize this amount, please go to ‘Program Management’ → ‘Set my Preferences’.
    No. All deposits to your designated Round Up savings account will be allocated toward your goal(s).
    Yes, if you have enabled the ‘SmartSave or Round Up transfer is greater or equal to your specified amount’ Alert and it meets the criteria you’ve set. To set up an Email or SMS Alert, log in to Online Banking at www.commercebank.com, or, if you wish to receive Push Alerts, please do so within the mobile app. Under “Account & Card Alerts”, you’ll find this Alert listed within the checking account section for which you enrolled.
    Yes. When you use the Special Connections® feature of your credit card to make debit purchases, those transactions will be considered debit card purchases.
    Yes, if your debit card is linked to your mobile wallet, these transactions will process the same as if you had used your physical debit card.
    No. A toggle® Pay Now transaction is a credit card transaction that is later transferred to your checking account and is not a debit card purchase.
    No. The Round Up will not be automatically reversed if there was an unauthorized charge(s). However, you can always transfer money back to your checking account if you wish.
    Round Up transfers occur Tuesday through Friday. There could be various reasons that a Round Up transfer may not happen on a given day. These could include, but are not limited to, a system reason, the configurations within your program, or the balance in your account. If you are enrolled in Round Up, and you have questions on why Round Up transfers are not occurring, please contact us.

    Overdrafts

    Round Up will validate that your available balance is above a certain balance threshold before scheduling a transfer; however, it is possible that an overdraft still occurs. You are responsible for ensuring your checking account has sufficient funds. If you believe a Round Up transfer caused an overdraft in your checking account, please contact us for a refund by calling 833-643-4125. See the following three questions for information about how to avoid overdrafts and what to do if a Round Up transfer causes an overdraft fee.

    There are many ways to protect your accounts from becoming overdrawn. 

    You can monitor your account balances using Online Banking and our mobile app. In addition, signing up for Alerts is a great way to stay on top of your accounts. Set up an Alert to notify you by text, email or push notification when your:

    • “Current Balance is below your specified amount”
    • “SmartSave or Round Up transfer is greater than or equal to your specified amount”

    Another option is to increase the minimum checking account balance required before allowing a Round Up transfer. To do this, please visit the Round Up “Program Management” page → “Set my Preferences” and increase the “Minimum Checking Balance Required to Allow a Transfer”.

    In addition, you can also choose to limit the “Maximum Monthly Transfers Amount” while on the same page. This is the maximum total amount that can be transferred from your checking to your designated Commerce Bank savings account in a given month through the Round Up program.

    Overdraft Services are also a great addition for your checking account.

    If a Round Up transfer causes an overdraft fee on your checking account, please contact our Customer Care Center to request a refund. If the overdraft fee was due to the Round Up transfer, expect a refund of the fee. If necessary, you can complete an Internal Transfer from your savings account back to your checking account to bring your checking account to a positive balance. Please note that you will see both the original fee, as well as the fee refund, on your statement. Depending on the timing of the refund, the refund may be displayed on the following month’s statement.

    You cannot reverse a Round Up transfer; however, you can complete an Internal Transfer from your savings account back to your checking account to bring your checking account to a positive balance.

    Please note that account limitations apply:

    • myRewards Savings are allowed four withdrawals or outgoing transfers per year to be eligible for the annual matching deposit
    • Saving accounts are allowed up to three free withdrawals or outgoing transfers per month: $2.00 for each additional withdrawal or transfer

    Program Management

    Yes. You can choose to limit the maximum amount that can be transferred from your checking to your designated savings account in any month. Go to “Program Management”→ “Set my Preferences”→“Maximum Monthly Transfers Amount”.
    Yes. You can pause the service (all transfers) at any time for up to three months. You may want to place a temporary pause on the service and keep funds in your checking account if you become aware of unusual or unexpected expenses coming up, for example, a special trip or a home repair. If you need to pause for more than three months, please unenroll from Round Up. See “How can I unenroll from the Round Up Program?” below.

    Go to: Round Up “Program Management” → “Pause my Savings”, then provide the date that you would like Round Up to resume moving money to your savings account. Please note: When the service is resumed after your pause, we will look back two days and Round Up purchases for that time period.

    Yes. You can pause one or more of your goals for up to three months. Go to:  Round Up “Program Management” → “Edit my Goals” → then select the Pause icon on the screen and follow the instructions.
    Pausing the service will stop all Round Up transfers from occurring until your resume date. You can pause the service for up to three months. Pausing a goal will stop funds from being allocated to that goal only; Round Up transfers will continue. Both of these changes can be completed from the Round Up “Program Management” page.
    No. Only the customer that enrolled in Round Up can manage the program.
    Go to: Round Up “Program Management” → “Discontinue my Savings”, then follow the instructions on screen. Funds will be reassigned to your Core savings and your goals will be removed.

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