# My bank offers 10.5% interest **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [June 10, 2026, 5:49pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803 "2026-06-10T17:49:03Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![mixdenny](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mixdenny/32/2962_2.png) [@mixdenny](https://boards.straightdope.com/u/mixdenny)\ **Post date:** [June 10, 2026, 5:49pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/1 "2026-06-10T17:49:03Z")
They just started a new savings account called a “Savings Jar”. For every electronic debit you make they round up to the next dollar and place the change into the savings jar at 10.49% figured monthly. I’m up to three bucks already. ---
**Author:** ![Czarcasm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/czarcasm/32/4050_2.png) [@Czarcasm](https://boards.straightdope.com/u/Czarcasm)\ **Post date:** [June 10, 2026, 5:59pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/2 "2026-06-10T17:59:49Z")
What bank is this? ---
**Author:** ![Beckdawrek](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/beckdawrek/32/3647_2.png) [@Beckdawrek](https://boards.straightdope.com/u/Beckdawrek)\ **Post date:** [June 10, 2026, 6:03pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/3 "2026-06-10T18:03:38Z")
Hey, my pig ain’t paying that much. In fact he ain’t paying crap. I need this. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [June 10, 2026, 6:06pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/4 "2026-06-10T18:06:33Z")
Why not pay bills in multiple debit transactions, just to maximize the amount in this savings jar? You could, for example, pay your hundred-dollar utility bill in the form of twenty payments each less than a dollar. ---
**Author:** ![Lucas\_Jackson](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/lucas_jackson/32/303_2.png) [@Lucas\_Jackson](https://boards.straightdope.com/u/Lucas_Jackson)\ **Post date:** [June 10, 2026, 6:09pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/5 "2026-06-10T18:09:24Z")
> [@mixdenny](#): > > They just started a new savings account called a “Savings Jar”. For every electronic debit you make they round up to the next dollar and place the change into the savings jar at 10.49% figured monthly. I’m up to three bucks already. Hmm, I’ve got a GREAT bank and don’t get this. What institute is this? ---
**Author:** ![needscoffee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/needscoffee/32/1076_2.png) [@needscoffee](https://boards.straightdope.com/u/needscoffee)\ **Post date:** [June 10, 2026, 6:25pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/6 "2026-06-10T18:25:35Z")
> [@mixdenny](#): > > savings account called a “Savings Jar”. > [@Czarcasm](#): > > What bank is this? Googling, I see **Round-Up Programs:** Many credit unions (such as **[California Coast Credit Union](https://www.calcoastcu.org/round-up-savings-jar/)**) or digital banks have “Savings Jars” that automatically round up everyday debit card purchases to the nearest dollar and deposit the spare change into your jar. [[1](https://www.calcoastcu.org/round-up-savings-jar/), [2](https://monzo.com/us/blog/monzo-us-blog/monzo-savings-jars-launch), [3](https://www.anz.com.au/plus/support/money-transactions/savings-goals/savings-jar/)] Note the links in the endnotes ---
**Author:** ![TroutMan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/troutman/32/6721_2.png) [@TroutMan](https://boards.straightdope.com/u/TroutMan)\ **Post date:** [June 10, 2026, 6:27pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/7 "2026-06-10T18:27:40Z")
If you do a search for `bank "savings jar" round up debits` you’ll get results for several credit unions. > [@Dewey\_Finn](#): > > Why not pay bills in multiple debit transactions, just to maximize the amount in this savings jar? You could, for example, pay your hundred-dollar utility bill in the form of twenty payments each less than a dollar. The ones I’ve seen offer it only on debit card transactions, so you can’t manipulate the amounts easily. > [@mixdenny](#): > > I’m up to three bucks already. You’re up to $3 in interest, or $3 in your account? The first would be extraordinary, but I’m guessing you have $2.98 you already had but now in a different account, plus maybe $0.02 in actual interest. ---
**Author:** ![Czarcasm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/czarcasm/32/4050_2.png) [@Czarcasm](https://boards.straightdope.com/u/Czarcasm)\ **Post date:** [June 10, 2026, 6:33pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/8 "2026-06-10T18:33:17Z")
The responses so far don’t back up the OP’s post, so the need to know what bank (if bank it is) is being referred to still exists. ---
**Author:** ![needscoffee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/needscoffee/32/1076_2.png) [@needscoffee](https://boards.straightdope.com/u/needscoffee)\ **Post date:** [June 10, 2026, 6:33pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/9 "2026-06-10T18:33:28Z")
Google also says that Century Federal Credit Union offers up to 10.47% > **[v2---spring-2026-insight-newsletter-(1).pdf](https://www.cenfedcu.org/docs/default-source/newsletters/v2---spring-2026-insight-newsletter-(1).pdf?sfvrsn=e7a4c4e4_1%2Fv2---spring-2026-insight-newsletter-%281%29.pdf)** > > 3.02 MB ---
**Author:** ![needscoffee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/needscoffee/32/1076_2.png) [@needscoffee](https://boards.straightdope.com/u/needscoffee)\ **Post date:** [June 10, 2026, 6:34pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/10 "2026-06-10T18:34:58Z")
> [@Czarcasm](#): > > The responses so far don’t back up the OP’s post, so the need to know what bank (if bank it is) is being referred to still exists It took me less time to google it than it took you to write either of your posts. ---
**Author:** ![Czarcasm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/czarcasm/32/4050_2.png) [@Czarcasm](https://boards.straightdope.com/u/Czarcasm)\ **Post date:** [June 10, 2026, 6:36pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/11 "2026-06-10T18:36:10Z")
Your googling did not reveal the name of the bank being referred to in the OP, did it? ---
**Author:** ![TroutMan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/troutman/32/6721_2.png) [@TroutMan](https://boards.straightdope.com/u/TroutMan)\ **Post date:** [June 10, 2026, 6:46pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/12 "2026-06-10T18:46:02Z")
Is your goal to join the specific bank the OP uses, find any bank that offers 10%+, or just to argue? If it’s the first, you can just wait for the OP to respond without complaining about other people’s responses. ---
**Author:** ![Czarcasm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/czarcasm/32/4050_2.png) [@Czarcasm](https://boards.straightdope.com/u/Czarcasm)\ **Post date:** [June 10, 2026, 6:46pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/13 "2026-06-10T18:46:58Z")
My “goal” is to find out what bank the OP is referring to. ---
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [June 10, 2026, 7:37pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/14 "2026-06-10T19:37:00Z")
> [@Dewey\_Finn](#): > > You could, for example, pay your hundred-dollar utility bill in the form of twenty payments each less than a dollar. If I could do this it would be orders of magnitude better than 10.5% on pennies. I want in. ---
**Author:** ![Beckdawrek](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/beckdawrek/32/3647_2.png) [@Beckdawrek](https://boards.straightdope.com/u/Beckdawrek)\ **Post date:** [June 10, 2026, 7:42pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/15 "2026-06-10T19:42:51Z")
Maybe he don’t want to tell it to you. Be patient. ---
**Author:** ![Chronos](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chronos/32/134_2.png) [@Chronos](https://boards.straightdope.com/u/Chronos)\ **Post date:** [June 10, 2026, 7:46pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/16 "2026-06-10T19:46:56Z")
Can you also make ordinary deposits into this account? If not, then they’re kind of asking for folks to game the system by things like paying their bills a penny at a time. On the other hand, IANAL, but might that fall afoul of laws against “structuring”? Usually, that’s breaking up a payment to keep things under mandatory reporting thresholds, but I don’t know precisely how the law is written. ---
**Author:** ![TroutMan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/troutman/32/6721_2.png) [@TroutMan](https://boards.straightdope.com/u/TroutMan)\ **Post date:** [June 10, 2026, 7:58pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/17 "2026-06-10T19:58:43Z")
> [@Chronos](#): > > Can you also make ordinary deposits into this account? If not, then they’re kind of asking for folks to game the system by things like paying their bills a penny at a time. See my note above - all the banks/CUs I saw that offer this restrict it to debit card transactions. The swipe fees for breaking up a transaction will be vastly more than the pennies of extra interest you’d get. ---
**Author:** ![Munch](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/munch/32/5281_2.png) [@Munch](https://boards.straightdope.com/u/Munch)\ **Post date:** [June 10, 2026, 8:21pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/18 "2026-06-10T20:21:39Z")
> [@Chronos](#): > > might that fall afoul of laws against “structuring”? Usually, that’s breaking up a payment to keep things under mandatory reporting thresholds That’s only for deposits, in order to mask illicit income (i.e. selling drugs). ---
**Author:** ![Johnny\_Bravo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnny_bravo/32/493_2.png) [@Johnny\_Bravo](https://boards.straightdope.com/u/Johnny_Bravo)\ **Post date:** [June 10, 2026, 8:27pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/19 "2026-06-10T20:27:37Z")
> [@Dewey\_Finn](#): > > You could, for example, pay your hundred-dollar utility bill in the form of twenty payments each less than a dollar. I’m sure there are restrictions on how much can be deposited into the savings jar in a given timeframe. ---
**Author:** ![xtenkfarpl](https://avatars.discourse-cdn.com/v4/letter/x/c2a13f/32.png) [@xtenkfarpl](https://boards.straightdope.com/u/xtenkfarpl)\ **Post date:** [June 10, 2026, 8:30pm UTC](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803/20 "2026-06-10T20:30:32Z")
I doubt if this is sustainable. It sounds to me like a “teaser rate” that comes with a lot of restrictions and is only available for a limited time. You’re probably not going to get a lot out of this. I guess you may as well take advantage of it: but read the fine print carefully… [Next page](https://boards.straightdope.com/t/my-bank-offers-10-5-interest/1030803.md?page=2)