Round Ups is a tool in the mobile app which when turned on will round up your debit card spend to the nearest pound and send the spare change to your Savings account. You will need an eligible current account, an eligible instant access savings account and the mobile app.
The following instant savings accounts are eligible for Round Ups:
It's a simple process to turn on Round Ups and you can turn it on and off whenever you want. All you need to do is...
Round Ups starts working as soon as you turn it on, also applying to any debit card or contactless payments already pending. You’ll be able to see these pending transactions in your mobile app.
Round Ups for payments clearing that day are added together and paid as one transaction. For example if today you use your debit card to make payments for:
then £1.30 (£0.50 + £0.80) will be transferred from your current account to your savings account when the payments clear. This can take up to 4 days.
Round Ups won’t transfer to your savings account for the following reasons:
On your current account statement, the transaction description will show the last 4 numbers of the savings account where you are sending your Round Ups i.e. 'ROUND UP TO 8636'.
The transaction description on your savings account will show the last 4 digits of the debit card number used to make the transaction you are rounding up i.e. 'ROUND UP FROM 0453'.
In some cases, such as online purchases, the 4 digits displayed may be a temporary number which you don't recognise. Don’t worry, this is normal and will be updated.
Round Ups is linked to your debit card. If you have a joint current account and you turn Round Ups on, only the payments made on your debit card will be rounded up. If both parties turn Round Ups on, then both of your payments will be rounded up. You can set up separate savings accounts to have your Round Ups transferred to or if you have a joint savings account, you can both choose that too, you’ll just see 2 sets of Round Ups transactions.
Your Round Ups arrangement will stop. You can set up a new Round Ups arrangement with any eligible current account and eligible savings account that you still have open. It would be good practice to switch off Round Ups before you close the account.
Cora, our digital assistant, is available 24/7 to help answer your questions about everyday banking.
If you log into online banking or the mobile app before starting a chat, Cora can offer additional support.
