Central Cents Round-Up
Saving on autopilot!
Looking for a set-it-and-forget-it way to grow your savings? With our Central Cents Round-Up program, building your nest egg has never been easier!
How it works
Three Steps to Effortless Saving:
- Sign up for our Central Cents Round-up program (See easy enrollment options in the Q&A below.)
- Make purchases using your Central Bank Debit card.
- We'll round up the purchase to the next whole dollar and deposit the change into your designated Central Bank savings, money market, or Kasasa Saver® account.
Note: You are eligible for the Central Cents Round-Up program if you have an existing Central Bank Illinois personal checking and savings account. (Business accounts are not eligible.)
Start growing your savings the easy way!
Questions about Central Cents? Connect with us or explore our FAQ section below.
FAQs
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What is the Central Cents Round-Up program?
When you enroll in the Central Cents Round-Up program, the amount of each Central Bank debit card purchase posted to your checking account is rounded up to the next whole dollar, and the difference is automatically transferred into your savings, money market or Kasasa Saver account. It is an effortless way to build savings balances.
Who can enroll in the Central Cents Round-Up program?
Any Central Bank Illinois customer with a debit card attached to a checking account who also has or opens a savings, money market, or Kasasa Saver® account is eligible to enroll. The savings, money market, Kasasa Saver® does not need to be attached to the card to enroll in the program. Business accounts are not eligible for this program.
How can you enroll in the Central Cents Round-Up program?
To enroll, choose one of the following options:
- Stop at a branch and sign a completed Central Cents Round-Up program enrollment form.
- Click on Request Enrollment Today to request the enrollment form be emailed to you, using a secure link. We will ask you for an updated email address and verify your current phone number.
- Log into your online banking and send us a message asking to be enrolled. We may contact you with any questions or clarifications for your request.
Can I request to only have certain transactions rounded up?
No, once the card is enrolled, all debit card transactions posted with that card will be rounded to the nearest dollar. Then your spare change will automatically be transferred to your designated savings account. When accounting for your purchases, you should also round up to the next nearest dollar to ensure you have sufficient funds in the account.
How can I identify if a transaction is a round-up transaction?
The round-up transactions will occur the same day the corresponding debit card transaction posts to the checking account, during the nightly update. The round-up transaction is separate from the original debit card transaction. Below is an example of a debit posting to a checking account:
The credit transaction posting to your savings, money market, or Kasasa Saver® account will look like this:
If the checking account has more than one debit cardholder, are all cards enrolled if one person signs up for the program?
No, each cardholder must enroll separately if they each want to take part in the program. The cardholder must also be an owner on the corresponding savings, money market, or Kasasa Saver® account.
Can a round-up transaction overdraw my account?
No, if there are not sufficient available funds in the checking account at the time of posting, the round-up transaction will not occur.
If I decide I no longer want to be enrolled, how can I end my participation in the program?
If you no longer want this service, you may call or stop into a branch, call the Debit Card Department at 309-944-1689, or send a request to the Debit Card Department at P.O. Box 89, Geneseo, IL 64254. You will need to provide the last four digits of your debit card and the name of the card. The cancellation will be processed within 10 business days of receipt of the cancellation request.
If I get a refund for the items purchased with my debit card, will the associated round-up transaction also be reversed?
No, the round-up transaction is not affected by the credit of the funds from the original purchase back to the checking account.
What happens if my debit card, checking, or savings account is closed?
Your Central Cents program will be suspended on your account if all Central Bank debit cards on the checking account are closed, the checking account enrolled in Central Cents is closed, or the account receiving Central Cents transfers is closed.
Central Bank reserves the right to modify or cancel the program at any time without prior notice. You agree to notify Central Bank in writing or opt out electronically if you wish to cancel the Central Cents program.
To enable Central Cents again you will need to activate a new Central Bank debit card on the enrolled checking account or opt in again with new checking or savings account information.