FAQs

1. How many months of data on a customer’s account is needed to calculate an eligibility segment?
2. How often is a customer’s eligibility segment for Round Ups updated?
3. What are the default transfer request values for Round Ups?
4. How is the customer’s estimated monthly savings amount calculated?
5. How does Personetics decide which checking account to recommend to a customer, and how are eligible checking accounts ranked?
6. What is the insufficient debit activity segment, and how is it determined?
7. How do Round Up booster values work?
8. How many booster values can be made available?
9. What booster values are available?
10. How does the money transfer process work for Round Ups?
11. How does Round Ups prevent overdrafts?
12. Can customers track the savings they have from Round Ups?
13. Will customers see program tracker insights when they are enrolled in Round Ups with Goals?
14. Can joint accounts enroll in Round Ups?
15. Can additional invitation channels outside of the Personetics insight be used to invite customers to the program?
16. Can a customer enroll in Round Ups without a savings account?
17. Can a customer pause Round Ups?
18. What bank reporting is available for the Round Ups program?

How many months of data on a customer’s account is needed to calculate an eligibility segment

The default value is 4 months, otherwise the customer is bucketed into the “Not Enough Data” segment. This value can be lowered at the bank’s request.

How often is a customer’s eligibility segment for Round Ups updated?

Each customer should be included in the financial mapping batch process once every 14 days (or approximately twice per month). Any updates to their eligibility segment will occur as a part of this batch process.

What are the default transfer request values for Round Ups?

How is the customer’s estimated monthly savings amount calculated?

Personetics will estimate the monthly potential saving amount that eligible and above criteria accounts can save through the program. The amount is calculated based on the number of debit card purchases a customer is making monthly. This estimate assumes a booster of $1. For more detail see the Personetics Round Ups Program Eligibility Process document.

How does Personetics decide which checking account to recommend to a customer, and how are eligible checking accounts ranked?

Unless the customer is bucketed into the “Not Enough Data” segment, Personetics will recommend the checking account with the highest estimated monthly savings amount to the customer. The customer’s checking accounts will be ranked by estimated monthly savings amount (from highest to lowest).
When the customer is bucketed into the “Not Enough Data” segment, Personetics will recommend the account with the highest balance and order the accounts by their balance (from highest to lowest).

What is the insufficient debit activity segment, and how is it determined?

The Round Ups program is reliant upon debit card activity to work. Without it, there can be no money movement for the customer. A special eligibility segment, Insufficient Debit Activity, was created for the program to reflect the case of when a customer does not have enough debit card activity to warrant enrollment in the program. A customer’s account is bucketed into this segment when any of the following conditions are present:

1. The customer’s monthly average number of debit purchases is 0.
2. The customer has made fewer than 3 debit purchases in the last month.
3. The customer’s monthly average number of debit purchases over the last few months is less than 3
4. The average monthly value of a customer’s debit purchases over the last few months is less than $75.
5. The value of a customer's debit purchases in the last month is less than $75.

How do Round Up booster values work?

The customer picks the amount (their booster value) they want to add to their savings with each purchase. 
• Choose $1, round up to the nearest dollar.
• Choose $3, round up to the nearest dollar and add $2 more.
• Choose $5, round up to the nearest dollar and add $4 more.

For more info on this, see the example below:

How many booster values can be made available?

There are a maximum of 3 booster values that can be made available to customers to choose form.

What booster values are available?

The default booster values of $1, $3, and $5.

How does the money transfer process work for Round Ups?

A daily transfer decision batch is run for the enrolled customers which includes 3 sequential steps:

1. Collects debit card purchase activity and calculates transfer amount
2. Determines whether it’s safe to save that amount
3. Send transfer requests to the bank
   Note: Round Ups transactions will be aggregated for the transfer decision batch process. The process will not run for each individual transaction as it occurs.

Note: Round Ups transactions will be aggregated for the transfer decision batch process. The process will not run for each individual transaction as it occurs.

How does Round Ups prevent overdrafts?

Round Ups has a process for determining when it is safe for a customer to save their Round Ups transfer amount.
Additionally, customers can set the following preferences to exercise control over Round Ups money movement:

• Minimum balance to allow a transfer (this is a lower limit on the account balance that the customer can impose – when the balance is below this number, no transfers will be made)
• Maximum monthly transfer amount (this an upper limit on the amount of money Round Ups can transfer in a month)

Can customers track the savings they have from Round Ups?

Yes. They will have a program tracker insight that will give them information on their savings through Round Ups:

They can click into this insight to see more detail on their total savings through the program, monthly savings amount, and a list of Round Ups transactions:

Will customers see program tracker insights when they are enrolled in Round Ups with Goals?

No. When a customer has Round Ups with Goals, the Goal Tracker insight and story takes the place of the Program Tracker insight and story.

Can joint accounts enroll in Round Ups?

Yes, a jointly held checking or savings account can be enrolled as either the funding or target account of the program, respectively. The bank has the option to disallow enrollment for joint accounts, however.

Can additional invitation channels outside of the Personetics insight be used to invite customers

to the program?
Yes, the bank can decide to use additional invitation channels, such as text or email.

Can a customer enroll in Round Ups without a savings account?

No, a customer must have a savings account to enroll in Round Ups. If a customer does not have a savings account, Personetics and the bank can incorporate savings account opening into the onboarding flow for Round Ups.

Can a customer pause Round Ups?

Yes, the out of the box policy is to allow customers to pause Round Ups for up to 3 months, with the ability to resume prior to the user-defined pause end date.

What bank reporting is available for the Round Ups program?

Personetics provides business intelligence dashboards in Microsoft PowerBI for the bank to use to gauge the success of the program. These dashboards include metrics like the number of enrolled/unenrolled/paused customers, amount transferred, average transfer amount, enrollment by booster value, industry benchmarks and much more.