What are round-up savings?

A man saving money by setting change aside, a core concept of round-up saving

For many of us, saving pocket money bit by bit was done by saving whatever change or amount we could spare. It would be put into a box or piggy bank. Now that most of us deal with online banking and a digitized experience, having to save that money physically is a thing of the past (mostly). Within FataFeat, we will offer a round-up savings feature.

Round-up savings will be a feature we offer that comes from the concept of taking the change from each purchase and putting it in your saving account. So, you’ll be automatically saving money in small increments. Thus, every time you make a purchase or transaction, the total gets automatically rounded up. So the difference is what you pocket in round-up savings.

Round-up savings are also based on the principle that small amounts of money can add up to big savings over time.

Let’s say you bought a meal at McDonald’s for SR 28.15. If you were paying with cash, you’d have 85 halala remaining in change. With round-up savings, FataFeat rounds up the value of the transaction and transfers those 85 halala into a savings account.

How will this work within FataFeat

This will be done automatically through FataFeat. You will be saving a small amount of money with every purchase. Our aim is to offer you the opportunity to make small but positive changes. We want to assist you in reaching your short and long-term financial goals.

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