AutoSave Inquiries

Questions

 

Answers

Question: What is AutoSave?

Answer: With AutoSave, when use your OneUnited Bank Visa Debit Card for purchases, we will round up each transaction (your change) and automatically move the total (your total change) to a savings account. Soon, your change will add up! Please see AutoSave Disclosures for details HERE.

Question: How does AutoSave work?

Answer: The amount of each purchase on your OneUnited Bank Visa Debit Card and posted to your checking account will be round up to the nearest dollar (your change). So, for a $5.51 purchase, the amount that will be round up to the nearest dollar (your change) is $0.49. For a $9.99 purchase, your change will be $0.01.

 

At the end of each banking day (at or after 11:00 PM ET), your change from purchases that are posted to your checking account prior to 11:00 PM ET are totaled, and the total amount (“your total change”) is transferred from your checking account to your savings account. Purchases occurring after 11:00 PM ET each banking day are included in your total change for the next banking day. Purchases occurring on non-banking days (weekends and holidays) are included in your total change for the next banking day. Please see AutoSave Disclosures for details HERE.


Question: How can I participate in AutoSave?
Answer: To enroll in AutoSave, simply follow these 3 simple steps:

  1. Login to Online Banking or Mobile Banking
    1. Select “Additional Services” or tap on “More” in our app.
    2. Select AutoSave.
  2. Select “Yes” on AutoSave for your checking account.
  3. Choose your savings account and you are all set! (It can take up to 24 hours to execute your request.)

 

If you do not have a OneUnited Bank Visa Debit Card or savings account, simply click HERE to get the card and/or open a savings account under MORE in our mobile app.


Question: My change did not transfer. Why?
Answer: If your total change is not being transferred from your checking to your savings account, it may be due to one of the following:

  1. You did not enroll in AutoSave.
  2. You did not use your OneUnited Bank Visa Debit Card.
  3. Your debit card purchase did not post to your account.
  4. You do not have a OneUnited Bank savings account.
  5. Your purchase was on a non-banking day (holiday or weekend), so your change will not be transferred until the next banking day (after 11:00 PM ET)
  6. The AutoSave service has not been activated for your checking and savings accounts (24-hour enrollment delay).
  7. Your checking account did not have sufficient funds to transfer your total change from your checking account.
  8. Your checking and/or savings account was closed when we attempted to complete the total change transfer.

 

Please see AutoSave Disclosures HERE.


Question: Is AutoSave free?
Answer: There is no cost to AutoSave. If you have a BankBlack Savings account, you can avoid the Monthly Maintenance Service Charge for each month you receive a total change deposit into your BankBlack Savings account from AutoSave. All other fees apply. (As an example, if you do not receive your total change deposit into your BankBlack Saving account during the month or have a different savings product with OneUnited Bank, you will be charged a Monthly Maintenance Service Charge for your savings account if you do not meet the criteria to avoid a fee in our Truth in Savings, Online Truth in Savings or Business Account Disclosures.) Please check with our branch staff or check our disclosures HERE.


Question: Will AutoSave create an overdraft?
Answer: We only transfer your total change at the end of a banking day (at or after 11:00 PM ET) from your checking account to your savings account if you have sufficient funds in your checking account at that time. If you do not have sufficient funds, your total change for that banking day will not be transferred at that time or in the future. We will skip that total change transfer. Please see AutoSave Disclosures for details HERE.


Question: I have a business account. Can I participate?
Answer: Yes, if you have a Business Visa Debit Card and a Business Savings Account.


Question: How can I cancel AutoSave?
Answer: To cancel AutoSave, simply:

  1. Login to Online Banking or Mobile Banking
    1. Select “Additional Services” or tap on “More” in our app.
    2. Select AutoSave.
  2. Select “No” on AutoSave for your checking account. (It can take up to 24 hours to make a change in your selection.)


Question: Can I use my savings if I enroll in AutoSave?
Answer: Yes, you can use funds in your savings account. You can even transfer your change back to your checking account if you need or want the funds.


Question: Am I automatically enrolled in AutoSave?
Answer: No. You need to enroll in AutoSave.


Question: Does the round up or change come from my money?
Answer: Yes. AutoSave is saving your money. It makes it easier for you to save your money by rounding up your purchases and automatically transferring your change from your checking to your savings account.