Save the Change

The Alterna Save the Change program provides a unique twist on saving money - allowing you to save small amounts without even thinking about it.

How does it work?

When you make a purchase using your debit card in Canada or the US, our system automatically rounds up the purchase price to the nearest dollar.

The rounded up amount (“the change”) is then moved from the your chequing account to a designated savings account. This means the more you spend, the more you save!

You can also request to have money transferred into your own savings account or into another member’s account, such as your child or grandchild to create an automated savings plan on their behalf.

How much can you expect to save with the Save the Change program?

Everyone has different spending habits, so how much you save with the program depends on how much you spend.

Here's an example of how the program works:

Mary goes grocery shopping every Thursday. She likes to shop local and visits a fresh market for her veggies, the local butcher for her meat and her corner grocery store for everything else!

This week Mary made the following debit card transactions on grocery day:

  • Fruit & Vegetable Market $25.45 ($0.55)
  • Butcher $30.75 ($0.25)
  • Grocery Store $26.35 ($0.65)

The transaction difference is included in brackets per transaction, rounding each debit card purchase up to the nearest dollar. This comes to $1.45 – which is the the total amount transferred at the end of the day to the designated account that Mary has chosen.

How can I sign up for the Save the Change Program?

Signing up is easy! All you have to do is complete and submit the Save the Change Enrollment Form.

You also require the following to take part in the Save the Change Program:

  • Chequing account
  • Debit card
  • Designated account for the rounded up difference to the nearest dollar

Eligible Accounts to Receive funds via Save the Change

  • Chequing
  • Simply Chequing
  • Daily Interest Chequing
  • Investment Savings

When does the transfer take place?

Our system runs every day, including weekends, and does one transfer to the designated account for the daily total at the end of the day.

Service Charges/Fees

Regular day-to-day transaction fees apply to debit card purchases; there is no additional cost for the end of day transfer.

Note: the Save the Change Program is available for Personal members only.