What is the point of $1 being transferred to my savings account from my checking account?

Whenever I make a purchase with my debit card, $1 gets transferred over to my savings account. What is the purpose of this, and what does it do?
What is the point of $1 being transferred to my savings account from my checking account?
Sounds like you are on some kind of program to make automatic transfers to savings based on each debit transaction you make out of checking. If you aren't aware of why you are on this program, you need to get with your bank and find out why, and unenroll if it's not the kind of automatic savings plan you want.





Bank of America has a similar plan, it's called "Keep The Change".





Every purchase you make under the 'even dollar' amount makes the "change" from that transaction go to your savings account. You end up with debit transactions that are in whole dollar amounts.





Sounds similar to what you have going on with a slightly different twist.