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Overseas-Chinese Banking Corp. Ltd. Monday introduced a savings rewards program for it credit and debit cardholders. SmartChange rounds up financial transactions made on customers' payment cards and transfers the difference into a savings account, according to a company statement. The program is similar to offerings by United States-based Bank of America Corp. and Wachovia Corp. "While all of us brace ourselves for tough times ahead, it is not realistic to avoid spending altogether," a bank spokesperson tells CardLine Global. "SmartChange helps our card members save effortlessly while making everyday purchases or spending on life's little indulgences." Customers who apply also receive a cash credit equivalent to 0.4% of each purchase amount. The bank set a transferable change limit of S$188 (US$124 or 99 euros) for the first three months after card members register their accounts for the program. The bank declined to disclose its total number of cardholders.
