Capital One is pushing for their SmartCents savings program that is similar to the Keep the Change Program of Bank of America. SmartCents is not really a high interest savings account but it will be your springboard to a healthier financial habits. It has the following features:

$0.50 is transferred from your checking account to your savings on every occasion you use your debit card to buy something or settle a bill online
Capital One will match 100% of your transfers done through the program for the first 3 months and 5% after or a maximum of $300 annually
Be able to get $15 when you set up your first direct deposit and another $15 when you use the bills payment system online for the first time

The savings program requires consumers to have a savings account with the bank and their SmartCents checking. The savings account referred to on the disclosure refers to money market and personal savings. This excludes their online savings account.

The bonuses are offered to new checking clients of the bank only. This is also considered for the matching of the transfers made during purchases and bills payment.

One downside of the program is most of their branch savings deals have lower interest rates compared to their internet savings, and two of the three savings accounts collect monthly fees if the balance requirements are not met. The SmartCents checking though keeps you safe from balance requirements and monthly fees.

This savings program is not yet rolled out nationwide. You have to go their branch to complete an application. Interested consumers can start the process online but the bank requires a branch visit. They have offices in New York, New Jersey, Virginia, Texas, Louisiana, and Connecticut.