Accrue's new round-up feature introduces an even easier way to reach your Savings Goal. Whether you're saving up for a new piece of furniture, aligners for your dream smile, or an upcoming getaway — your spare change can help you get there. And that's because we'll round up the change on every one of your purchases and add it to your Savings Goal. Below, you will find frequently asked questions about round-ups:
How does it work?
First, you’ll link a Monitoring account. Then, we will monitor the price of each payment you make from your monitoring account and round up to the nearest 50 cents, $1, or $2 (you set this amount). Once the total of those round ups reach $5 we will withdraw that amount from your funding account.
What is the difference between monitoring accounts and a funding account?
The Monitoring accounts are the accounts that we will monitor the transactions you make and round up from. These can be any credit card and/or bank account, you can attach more than one account to the savings plan. We will not actually withdraw the funds from this account.
The Funding account is the account that we will withdraw the funds from once you have reached the threshold amount of $5. The funding account can be a bank account or debit card.
How do the different round-up increments work?
There are three round-up increments that you can choose: 50 cents, $1, or $2.
- 50 cents: Your round-up amount will go to the nearest 50-cent increment of your purchase ($X.50 or $X.00)
- $1: Your round-up amount will go to the nearest whole dollar amount of your purchase ($.00)
- $2: Your round-up amount will go to the next whole dollar amount of your purchase. This will always be more than $1.00 and less than $2.00
Examples:
The examples below show the round ups amount based on the increment selected.
| Transaction amount | 50 cent round up | $1 round up | $2 round up |
| $0.47 | $0.03 | $0.53 | $1.53 |
| $12.15 | $0.35 | $0.65 | $1.65 |
| $48.02 | $0.48 | $0.98 | $1.98 |
Will each purchase I make result in a deposit?
No. We wait until you collect $5.00 worth of spare change before initiating a round-up deposit from your funding source.
When can I expect to see the round up deposit in my account
Once your spare change reaches $5, a round-up deposit will be initiated from your funding account within a few business days. There is sometimes a delay, for example, if some of your purchases are still pending. As soon as one round-up deposit is initiated, we’ll start tallying up your change toward the next one.
Why can't I use my credit card as my funding account?
The way Accrue works is by opening a FDIC insured bank account in your name to hold your funds. Therefore when you deposit money to your Accrue account it is comparable to making a deposit at your bank. In order to make a deposit to a bank from a credit card you would need to use the cash advance feature of your card. Cash advances are risky because of the high interest rates and costly one-time fees, for this reason Accrue does not support deposits with credit cards
Can I still make one-time deposits or recurring deposits while round-ups are enabled?
Yes! You can make additional one-time deposits at any time and/or enable recurring deposits whether you have round-ups or not.
Can I pause round-ups?
Yes, you can pause round-ups at any time. They will automatically resume after two weeks.
Can I turn off round-ups entirely?
Yes, at any time.
If I have insufficient funds in my bank account, will a “round-up” deposit still be made?
Nope! You won’t be over-drafted due to round-ups. if we cannot initiate a transfer due to insufficient funds, we’ll skip that round-up. We will continue to monitor the account starting at $0 for the next round-up deposit
If I’m saving for multiple brands using Accrue — can I configure round-ups for each of them?
Yes. Please note that if you have chosen the same monitoring accounts, transactions will be counted and the round-up will be applied to both wallets.
Have more questions?
You can email us at any time at support@accruesavings.com, and someone from our support team will be in touch.
If you prefer to speak to a representative, you can call us toll-free at 1-844-918-3672. We are available 9 am-5 pm EST. Outside of those hours, you can leave a message and we will contact you the following business day.