PINE
BLUFF, Ark., Dec. 21,
2022 /PRNewswire/ -- Simmons Bank announced today its
automatic savings program, Round-Up, allowed customers to save over
$5.2 million during the first eleven
months of 2022. More than 26,500 customers utilized the program
during this period. Compared to the same timeframe in 2021, the
program has grown in customer usage by approximately 5 percent and
dollars saved are up 7 percent.
According to a Bankrate survey released earlier this
year, only four out of 10 Americans have enough savings to
cover the cost of a $1,000 car
repair, emergency visit or unplanned expense. While just 44 percent
of the 1,004 U.S. adults surveyed have enough money saved, the
percentage is up from 39 percent a year ago, and is the highest
percentage capable of covering an emergency expense since the
survey began in 2014.
"Simmons Bank Round-Up Savings programs provides a convenient
way for customers to put their savings plan on 'auto-pilot' by
adding to their savings or checking account with each debit card
transaction they make," said Joshua
Jensen, chief deposit officer at Simmons Bank. "When
customers enroll in this program, the "change" remaining from a
transaction is placed into a savings or checking account, providing
customers the ability to conveniently save money to reach their
savings goals."
Established in 2014, the Simmons Bank Round-Up program is
designed to eliminate the effort needed to save by automating the
process when customers use their debit card to conduct a purchase.
With each debit card purchase made by a customer who is enrolled in
the program, Simmons Bank rounds the transaction up to the nearest
whole dollar and deposits the "change" into a Simmons Bank savings
or checking account of the customer's choice.
About Simmons Bank
Simmons Bank is a wholly owned subsidiary of Simmons First
National Corporation (NASDAQ: SFNC), a Mid-South based financial
holding company that has paid cash dividends for 113 consecutive
years. Simmons Bank operates more than 230 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Founded in 1903, Simmons Bank offers
comprehensive financial solutions
delivered with a client-centric approach.
In 2022, Simmons
Bank was named to Forbes list of
"America's Best Banks" for the second consecutive year and to
Forbes list of "World's Best Banks" for the third consecutive year.
Additional information about Simmons Bank can be found on our
website at simmonsbank.com, by following @Simmons_Bank on
Twitter or by visiting our newsroom.
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SOURCE Simmons Bank