Frequently Asked Questions

What is Change?

Change is a service that uses Artificial Intelligence to help you spend your hard-earned money more wisely.

Is Change an App?

Change is an invisible app. You sign-up for the service via Mobile or Web and from that moment on, our system will seamlessly do its magic behind the scenes.

How does Change work?

When you link your credit card or bank account to our service, the technology gets to know your financial personality and communicates naturally via SMS to help you keep on track. When the service identifies opportunities to decrease spending and increase saving, it suggests automated ways for you to act.

Is Change the same as Mint?

Change is a different experience. When using Mint you need to be actively involved in manually calibrating your budgets and goals. We think that in order to be successful with personal finance the experience has to be easier than that.

Is Change safe for me to use?

Yes. We use the most advanced security measures to make sure your personal data is anonymized and encrypted on our servers. We DO NOT see nor keep your login credentials when you link your bank and credit cards to our service.

Does Change cost me money?

All our services are free to use.

How do you make money?

Our Predictive Overdraft Protection service can extend up to $250 for up to 14 days of interest-free cash advance to avoid fees and our Auto-Saving service pays up to 3% APY on your Change Savings. We believe people should pay what they think is fair which is why our ongoing operation rely on tips received from users whom we’ve helped. Optional same-day money transfers, provided by our Predictive Overdraft Protection and Auto-Saving services, are subject to a one-time fee.

Why is it called “Change”?

We believe that money is not about budgets and numbers – it is about behavioral CHANGE. Our service uses Data Science and Behavioral Economics to help you make small changes in the way you manage your personal finance so you can reach your dreams.

How many accounts do I need to link?

As many as you like, although bear in mind that our technology can help you better when it is linked to all of your credit cards and bank accounts. Most of our customers start with linking their main account and soon after experiencing the magic, they link all their accounts.

What if I don’t see my bank listed?

Change supports over 9,000 financial institutions in USA and Canada. To find out if your bank or bank-affiliated credit card is supported, please visit the Supported Banks page. If you do not find your bank or bank-affiliated credit card, please shoot us an email to support@gochange.co and we will try to help.

Is Change available outside of the USA?

We currently support financial institutions in USA and Canada. Other territories are not supported yet.

Will Change move money without asking me?

Never. In the near future, we intend to introduce automated savings to help you sock away some money when we identify the opportunity to do so – we will always get your approval before activating that service for you.

Have other questions?

Shoot us an email: support@gochange.co

What is Auto-Saving?

Auto-Saving is an advanced financial algorithm designed to improve your saving behavior.
By scanning your Checking Account money transactions, the algorithm is constantly making predictions to identify small amounts of money that could be spared for savings without affecting your future spendings. It then automatically sends these funds to your secure Change Savings account. These transactions occur 3-4 times per week.

How does the auto-saving work?

  1. You switch the auto-saving feature on.
  2. A Change savings account is created in your name.
  3. Sit back and relax: our smart algorithms work in the background, monitoring your transactions and balance and deciding when it would be beneficial to transfer small amounts of money automatically to your Change savings account.
  4. Though you technically don’t need to initiate anything on your end, you can always add funds or withdraw money back to your checking account.
  5. Transfers usually take 1-2 business days to complete.
  6. We will never initiate savings from your account if your balance is low.
  7. If for any reason, your account becomes overdrawn as a result of the auto-saving transfers, we will pay back any fees you were charged.
  8. Auto-saving transfers will usually be between $5 and $100.

Do my Change Savings earn interest?

You can earn up to 3% interest (APY) on your savings with Change. Check out our Savings Bonuses FAQ on https://gochange.co/faq/#savings-bonuses

How do I withdraw money from my Change Savings Account?

There are 2 ways to withdraw money from your Change Savings Account:
Send a ‘Withdraw (amount)’ message to Change via text or Facebook Messenger
OR
Log in to your account, navigate to the Savings tab (https://gochange.co/account/savings), tap on the ‘Options’ button and Choose the ‘Withdraw’ option.

The system checks that you have sufficient funds in your Change Savings Account to enable the withdrawal, and funds will reach your account within 1-2 business days.

How often do you transfer funds from my Checking Account to my Change Savings Account?

Our algorithm makes an average of 4 savings decisions per week, and each transaction amount can range between $5 to $150.

How soon will the funds reach my Checking Account after I issue a withdrawal?

Once you initiate a withdrawal, it takes 1-2 business days for funds to reach your Checking account.

Is there a limit to the number of withdrawals from my Change Savings Account?

No, there is no limit on the number of withdrawals.

Are there any fees when I withdraw money from my Change Savings Account?

No, there are no fees that are charged when you make a withdrawal from your Change Savings Account.

Which Banks are supported for the Auto-Saving Service?

We currently support over 700 banks and credit unions including BBVA, BB&T, Bank of America, Chase, Wells Fargo, CITI, Navy Federal Credit Union (NFCU), PNC, SunTrust, Simple, TD Bank, US Bank, USAA, Capital One 360, Capital One, Charles Schwab, Fidelity, Union Bank, BECU, State Employees Credit Union, Arvest Bank, American Express Serve Prepaid Card, Bluebird by American Express, GoBank, Webster Bank, HR Block Emerald Card, WalMart Prepaid MoneyCard, Commerce Bank, Redwood Credit Union, San Diego County CU, Randolph-Brooks Federal Credit Union and First Tennessee.

If your bank does not appear on this list and you wish to enable Auto-Saving, please contact us at support@gochange.co and we will consider adding it in the near future.

Are the funds held under my Change Savings Account FDIC insured?

All Change Savings Accounts are maintained together under our pooled account. Once your funds have been transferred to your Change Savings Account, they are insured by the FDIC up to a balance of $250,000.

Which commands does the Auto-Saving Service support?

You can text the word “Withdraw” and chat with our ChatBot, making sure to specify the amount of money you wish to withdraw from your Change Savings Account.

You can also text “Savings” to see your current Change savings balance along with the latest transactions. Login and navigate to https://gochange.co/account/savings at any time to see your Savings Balance and a log of your transaction history.

Are there any tax implications for savings with Change?

Because your Change Savings do not earn interest, they do not carry any special tax implications.

Why does my recent withdrawal from my Change Account appear as ‘Pending’?

From the time you initiate a withdrawal until it is completely settled with your bank, transactions show as Pending. During that time, and while a transaction is in a Pending state, it cannot be canceled or adjusted.

A transfer can stay in a Pending state for up to 1-2 business days until it is settled by your bank and shows on your Checking Account balance.

What should I do if I need to close the Checking Account funding my Change Savings Account?

Before you close your checking account, you should issue a command to withdraw all funds by texting ‘Withdraw ALL’ to Change, or by logging into your Change account, navigating to the Savings tab (https://gochange.co/account/savings), tapping on the ‘Options’ button and choosing the ‘Withdraw All Funds’ option.

The Checking Account which funded my Change Savings Account is closed. What should I do?

You will need to contact us at ‘support@gochange.co’ and inform us that your Checking Account is closed. After we walk you through a verification process, the remaining funds under your Change Savings Account will be automatically withdrawn and a check for the full sum will be mailed to your verified address.

If I unlink my Checking Account from Change, can I still access my saved funds?

Even if you choose to unlink your Checking Account from Change, you’ll still be able to access your Change Savings Funds at any time by logging into your Change account through https://gochange.co/account/savings. Moreover, you’ll be able to withdraw your funds at any time.

How can I view the balance on my Change Savings Account?

You have 2 options to check your Change Savings Account balance:

Send a ‘Savings’ message to Change via text or Facebook Messenger. You will get a message with your Change Savings Balance and a link to see your latest Savings transactions.
OR
Login to your Change Account and navigate to the Savings tab: https://gochange.co/account/savings

Can I connect more than one Checking Account to Change?

You can connect more than one Checking Account, as long as the accounts are kept under different credit unions. To do this, log in to your Change Account at https://gochange.co/account/savings, choose the credit union from the top menu and Activate the Checking Account you wish to enable for Auto-Saving.

What happens to my funds if Change closes or goes out of business?

Funds in your Change Savings Account can only go in and out between your funding account and your Change Savings Account – this is called a Closed Loop. In the unlikely event that Change closes or goes out of business, all of your funds would automatically be transferred back to your Checking Account.

What should I do with my Savings?

Great question! First, do you have an emergency fund? This would represent about 3-6 months’ worth of cash that you should only touch in the direst of emergencies. If you already have an emergency fund, you could save up for that vacation you always dreamed of, a new car, a home to call your own or anything else that you feel would make life happier.

Change Savings Account is shown as ‘suspended’ – what should I do?

Don’t worry, it’s an easy fix. Read on for help and instructions.

Why has my Change Savings Account been suspended?
This account status is shown when your bank sends us a rejection code when trying to process an ACH transaction. Typically, this happens because you advised your bank not to authorize ACH transactions.

What happens to the money in my Change Savings Account while it’s suspended?
Your funds are 100% safe and secure. To access them, you’ll need to re-enable your Change Savings Account.

How do I re-enable my Change Savings Account, and regain access to the funds in it?
To re-enable your Change Savings Account, please contact your bank and authorize ‘Change Labs’ to initiate ACH transactions. Then, please contact us at support@gochange.co and inform us that your account is now accessible, so we can resume auto-saving.

Will I be able to withdraw my funds from the Change Savings Account?
Of Course! Your funds are safe and you can withdraw them at any time. Once we re-enable your account, you will be able to access your Change Savings Account to view your savings balance, review recent transactions, and make a withdrawal whenever you wish.

What is Dwolla?

Dwolla is a powerful payments platform that securely connects to bank or credit union accounts to enable any individual or organization in the U.S to transfer money.

Why is my transaction still pending?

A bank or credit union transaction usually takes 1-2 business days to complete via the Automated Clearing House (ACH) network used by banks to transfer funds. Please note that transfers may take longer to complete if initiated during a weekend or a holiday.

Why did the transaction fail?

Sometimes, transactions to or from a bank or credit union can fail. Here are the main reasons a transaction may fail:

Insufficient funds: There are insufficient funds in the sending bank or credit union account to complete the transaction.
Frozen account: The sending bank or credit union account has been frozen.
Other reasons: The sending or receiving bank or credit union has rejected the transaction for another, unknown reason.

If a transaction fails, please contact your bank or credit union to check the status of your account.

How does Dwolla protect customers’ data?

Dwolla protects customers’ data through secure servers and a world-class cloud environment. Dwolla’s servers are encrypted with 128-bit or greater encryption controlled by Transport Layer Security (TLS) and sit behind firewall and intrusion protection. Dwolla’s cloud service offers a highly secure environment with a dedicated security team.

How are my Savings Bonuses calculated?

Every 3 months since your initial signup, we calculate your average daily Change Savings balance for the previous 3 months. The quarterly Savings Bonus amount will be calculated as your current Savings Bonus rate divided by four, then multiplied by your average Change Savings balance. For example, if your current Savings Bonus rate is 3% and your average Change Savings balance is $1,000, then your quarterly Savings Bonus will amount to (3%/4) x $1,000 = $7.5.

Where can I see my current interest rate?

Login to your Change Account at https://gochange.co/account/savings. There, you’ll see your current interest rate at the top, right below your Change Savings Balance. You will also be able to invite friends to sign up for Auto-Saving to increase your interest rate.

How can I increase my interest rate?

Login to your Change Account at https://gochange.co/account/savings. There, you’ll see you can increase your Savings Bonus interest rate by inviting friends to use Auto-Saving. When one of your friends signs up for the service using one of your invitations, and their first Auto-Saving transaction is cleared, your Savings Bonus rate will increase according to the following table:

Number of friends who signed up Savings Bonus interest rate (APY)
1 1.0%
2 1.5%
3 2.0%
4 2.5%
5 3.0%

How many friends should I invite in order to get 5 friends to sign up?

Our registration process is very short and we try our best to make it super easy for newcomers to sign up. You should expect that about 1 of every 15 friends you invite will actually sign up. This means that you should reach out to approximately 75 friends in order to receive the highest Savings Bonus interest rate we offer.

To increase your odds of reaching the highest Savings Bonus interest rate offered (3%), you should use the sharing options we provide on https://gochange.co/account/savings. There, you’ll find Facebook and Twitter share buttons along with invite texts and a unique shareable link that you can use to invite friends on other platforms like email and WhatsApp.

How can I invite my friends to try Auto-Saving?

We made it super easy for you to invite your friends to sign up for Change and start using Auto-Saving. Just log in to your Change account at https://gochange.co/account/savings, where you’ll find all you need to send your invites. You can use the Facebook Share button, the Twitter share button and/or a unique shareable link to invite friends on other platforms such as email and WhatsApp.

Are there any limits to the Savings Bonus amount I can get?

The current Savings Balance limit is $2,000. Accordingly, the maximum yearly Savings Bonus you can earn is $60, given a maximum average Savings Balance of $2,000 throughout the entire year, and having reached the maximum Savings Bonus rate of 3%.

Where can I see my Savings Bonus payments?

We deposit the Savings Bonus directly into your Change Savings account, where you will see a transaction labeled “Savings Bonus”. The Change Savings Account has no limits on the number of withdrawals and you can choose to withdraw your funds at any time.

How come you can pay 3% interest, which is higher than any other Savings Account in America?

Instead of spending our marketing budget with media giants like Facebook and Google, we’d rather re-invest it in our growing loyal community.

How does Predictive Overdraft Protection™ predict overdraft?

Simply put, Predictive Overdraft Protection™ (POP) helps you avoid overdraft fees. It uses a patent-pending algorithm that analyzes your transaction history and uses machine-learning to predict your risk of an overdraft at any given time. To form accurate predictions in real-time, the algorithm looks at your average daily spending, recurring payments, income and billing cycles.

How does Predictive Overdraft Protection™ help me avoid overdraft fees?

Once the algorithm detects an overdraft risk and the amount of money needed to avoid that risk, it automatically sends you a text alert with a link to your current situation. When you click the link, you will see the risk level your account is facing, the necessary funds to avoid an overdraft, and the amount we are willing to offer you as an interest-free cash advance to avoid overdraft fees.

If you accept the advance, you’ll be able to decide how much to take, and then decide whether – and how much – to tip us for this service. The amount you tip us is entirely up to your discretion, and you can choose to pay nothing. Once you’ve decided on the amount, an ACH credit transaction will be initiated and the cash advance will be deposited into your account within 1-2 business days.

How do I repay my interest-free cash advance?

Our system initiates repayment in the form of an ACH debit transaction when one of the following scenarios takes place:

1. Your balance rises to an extent in which the algorithm predicts that repaying the cash advance would not result in a significant risk of overdraft, or;
2. Five (5) business days have passed since the interest-free cash advance was given.

If repayment results in an overdraft, we reserve the right to offer you another cash advance that may eliminate or reduce the overall overdraft sum.

How long will it take until the funds reach my Checking Account?

To credit and debit your checking account, we use the ACH network which only operates during business days. Here are the timeframes you should expect:

Cash advance initiated                                   Funds received by

Weekday before 4p CST                                  Next business day, morning

Weekday after 4p CST                                     2 business days, morning

Weekend anytime                                             2nd business day, evening

Bank holiday anytime                                      2nd business day, evening

What is the maximum cash advance I can get from Change?

Your basic coverage is $100 for 7 days, and you can boost it to $250 for 14 days by inviting your friends.

What is the Overdraft Risk Indicator and what does it tell me?

You can always log in to your account at https://gochange.co/account/pop and check your Overdraft Risk Indicator to see your current level of risk. This indicator uses our system’s predictions to determine your account’s risk of becoming overdrawn in the next 4 days.

Who is eligible to get the interest-free cash advance?

To become eligible for the interest-free cash advance you need to meet ALL of the following criteria:

  1. Have a checking account with one of our 700 supported banks or credit unions, and;
  2. Our service can view transactions during 4 last calendar months, and;
  3. Your data shows at least 3 active days per calendar month, and;
  4. Your data shows a minimum income of $1,000 per calendar month, and;
  5. Your data shows less than 10 overdraft fee charges during the last 120 days.

If you feel you meet the above criteria but our system indicates otherwise, please e-mail us at support@gochange.co.

How do you determine the actual cash advance you offer?

Once the algorithm predicts that there is an overdraft risk, our system goes on to calculate the amount needed to avoid that risk. Since the amount is based on a prediction, we give you an option to get a slightly lower and a slightly higher amount than you may need. If the calculated amount is higher than $1,000 we will not offer to extend you a cash advance.

Are there any costs to using this service?

The service is free. We believe that Americans pay way too much for overdraft fees, and in order to make a difference, we felt it was necessary to establish a new set of rules. Our continued operation relies on tips received from users whom we’ve helped. If you feel we have helped you avoid overdraft fees, you can choose to pay us what you think is fair. Every voluntary payment you make will support more users avoiding fees and will help keep our business afloat.

Do the cash advances you offer bear interest?

No, they don’t. We believe that quality overdraft protection should not come with a price tag, which is why there are no fees or interest charges tapped onto the cash advances we offer to help you avoid overdraft fees.

Our continued operation relies on tips received from users whom we’ve helped. If you feel we have helped you avoid overdraft fees, you can choose to pay us what you think is fair. Every voluntary payment you make will support more users avoiding fees and will help keep our business afloat.

How do my tips help more Americans avoid paying overdraft fees?

We set-up our service to fight overdraft fees, which we believe are ridiculously high. To do that, we need a significant amount that will enable us to provide interest-free cash advances on demand to a large and growing community of Change users.

Every time you tip us an amount you deem to be fair, 60% of that amount goes right back towards funding other interest-free cash advances provided to Change users. The remaining 40% is used to support our continued operation.

How much should I tip Change when I choose to receive a cash advance?

Pay what you think is fair. Keep in mind that every time you tip us, 60% of that amount goes right back towards funding other interest-free cash advances provided to Change users. The remaining 40% is used to support our continued operation.

Why did my cash advance or repayment transaction fail?

Sometimes, transactions to or from a bank or credit union can fail. Here are some common reasons a transaction may fail:

  1. Insufficient funds: There are insufficient funds in the account to cover repayment.
  2. Closed account: The account is closed and cannot send or receive funds.
  3. Other reasons: The bank or credit union has rejected the transaction for other reasons.

If you attempted to repay a cash advance and the transaction failed, please contact your bank or credit union to check the status of your account. Please note, we also have the option to cancel the cash advance we extended to you, on our end.

Which Banks are supported for Predictive Overdraft Protection™?

Predictive Overdraft Protection™ currently supports over 1,600 banks & credit unions including BBVA, BB&T, Bank of America, Chase, CITI, Navy Federal Credit Union (NFCU), PNC, SunTrust, Simple, TD Bank, US Bank, USAA and Wells Fargo.

If your bank is not supported and you wish to enable Predictive Overdraft Protection™ on your account, please e-mail us at support@gochange.co specifying your bank and we will consider adding it in the near future.

Why does my recent cash advance appear as ‘Pending’?

From the time you accept and initiate a cash advance until it is completely approved by your bank, the transaction will show as Pending.

A transfer can stay in Pending state for up to 1-2 business days until it is settled by your bank, at which point it should show on your Checking Account balance.

What should I do if I need to close the Checking Account I linked to Change?

Before you close your checking account, you should pay back any outstanding cash advances you owe us. This can be done by logging into the POP section of your Change account at http://gochange.co/account/pop, then clicking on the ‘Options’ button and selecting the ‘Payback All Funds’ option. Make sure you have sufficient funds in your checking account to support this transaction.

The Checking Account I linked to Change is closed. What should I do?

You will need to contact us at support@gochange.co and inform us that your Checking Account has been closed. We will walk you through a verification process, and inform you of the outstanding amount you owe us. You will then be given the option to wire us the funds or send us a check to cover the outstanding amount.

How can I view the outstanding balance that I owe Change?

Login to your Change Account, and navigate to the POP tab: https://gochange.co/account/pop.

Can I enable Predictive Overdraft Protection™ on more than one Checking Account?

If your bank is supported, you can enable Predictive Overdraft Protection™ on all of your checking accounts as long as they are eligible for the service.

What should I do with the cash advances you extend me?

Great question! First, use them to help you pay your absolute essentials such as rent and bills. This can help you to avoid the risk of being hit with late fees and even damaging your credit score.

What is Dwolla?

Dwolla is a powerful payments platform that securely connects to bank or credit union accounts to enable any individual or organization in the U.S to transfer money. Change uses Dwolla’s services to securely transfer funds to and from Change users’ US bank accounts, without compromising their privacy.

How does Dwolla protect customers’ data?

Dwolla protects customers’ data through secure servers and a world-class cloud environment. Dwolla’s servers are encrypted with 128-bit or greater encryption controlled by Transport Layer Security (TLS) and sit behind firewall and intrusion protection. Dwolla’s cloud service offers a highly secure environment with a dedicated security team.

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