2 min read - (if you use find for your topic) By ChangeBowl - Feb 2, 2017
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Welcome to ChangeBowl
What is ChangeBowl?
ChangeBowl is a Mobile Platform that enables you to Give easily by rounding up your regular everyday purchases. This allows you to support Causes and Non Profits that matter to You. ChangeBowl provides a platform for making personal philanthropy a simple delightful experience. Every Day.
How does ChangeBowl work?
ChangeBowl empowers You to proactively save for those Causes You really care about. By registering Your Credit/Debit cards on ChangeBowl each of Your purchases is Rounded Up to the nearest dollar. This money is transferred into a virtual ChangeBowl account. At a specified amount, you Choose how much to Give and how much to Save.
What makes ChangeBowl different?
ChangeBowl's Goal is to facilitate the Giving of One Billion Dollars over the next 5 years. Each of the Founders and Partners has faced and overcome Unique Life challenges. As a result, we are driven by the NEED to give back and make a difference. Yes, we are Tech Stars (have built and sold Internet Companies) and Business Builders. And most of all we're nice people. (thats what we've been told)
What is Electronic RoundUp?
As the name implies, this is the 21st centry version of "would You like to RoundUp Your Purchase to help XYZ".. The beauty of ChangeBowl electronic RoundUp is there is no change of habit needed. There is no friction. Just set it and forget it and You are contributing Your spare change to the Cause You care about. EVERY Transaction with ANY credit or debit card..ANYWHERE at ANYTIME is roundedUp to the nearest dollar. When you link Your credit and/or debit card to your ChangeBowl account, we track the spare change from your transactions and make it available for you to donate. Your round-ups are viewable right in the app. It's simple, easy, and good.
Where does the round-up money come from?
RoundUp funds come from Your shopping. When You spend $2.81 the ChangeBowl app rounds that amount to $3.00. That 19 cents goes to Your checking account that you connect as a funding source for ChangeBowl. If you connect multiple credit or debit cards, then all of your Round-Ups will all come from the connected checking account (known as the withdrawal account). When the Round-Ups add up to at least $5 this amount is transferred to the ChangeBowl account and is ready for You to determine where the money goes.
SecurityBANK GRADE SECURITY
We use bank grade security systems to keep the data safe and protected. All transactions use SSL to keep the flow of information safe and verified. Your banking information is tokenized and stored a in PCI compliant system..
Why does ChangeBowl need my bank login information?
You'll need to provide your online banking login information to allow ChangeBowl to Roundup. However, this information is NOT STORED AND IS NOT VIEWABLE by ChangeBowl—it's simply used to import your spending activity. .
Does ChangeBowl store my bank login information on their servers?
ChangeBowl does not store your bank login information.
Why does ChangeBowl need my social security number?
The Patriot Act requires all financial services institutions to obtain, verify, and record information that identifies each person opening an account. We also require the last four digits of your social security number to issue you a tax reporting form at the end of each year. It's all for Your benefit.
How do I protect my ChangeBowl account?
Just as with every banking app, we recommend that you keep your ChangeBowl account secure by always logging out after use. Additionally, you should choose a difficult-to-guess password and store it in a secure location.
What happens if one of my linked cards is lost or stolen?
Your account with ChangeBowl is not at risk if one of your linked cards is lost or stolen. However, you should still unlink the card from your ChangeBowl account. This can be done in the Round-up Accounts section.
Opening an account
What do I need to get started?
Install the ChangeBowl APP for free. Yes, both IOS and Android in the app stores:
- Just follow the simple instructions:
- Choose your Cause
- Set up Your banking information
- Start Shopping and Giving
What's involved in the signup process?
Just like You, we're human and abhor complicated stuff.So we've made this as easy as possible. Simply give Your email address, choose a password, answer a few questions about Yourself and link a funding account. Now, go and shop. And Give.
What is account verification?
The Patriot Act requires financial services institutions such as ChangeBowl to obey strict rules governing the verification of individuals seeking to open accounts. Therefore we ask for some of your personal information (legal first and last name, home address, last four for your SSN, etc.). In order to ensure a speedy sign-up, it's very important that you enter in this information accurately. Also, this is important for tax season. You want to get full credit for the good your change has done.
Is there a minimum amount required to donate to a nonprofit I care about?
ChangeBowl has no minimum account balance requirement to open an ChangeBowl account, but in order for you to start donating, your round-ups/lump sums must cross a $5 threshold. This is conveniently and easily done through our round-ups process; each time you make a purchase the roundUp accumulates towards doing good.
Is ChangeBowl available to people outside of the U.S.?
Currently, ChangeBowl is only available to residents of the United States. An exception is made for active Armed Services personnel that maintain a US address and are temporarily overseas.
What happens if I delete the ChangeBowl App from my device, or get a new phone?
ChangeBowl operates in the cloud and your account and nonprofits savings are safe even if you delete the app or get a new phone or device. Automatic round-ups will still be processed even if the ChangeBowl app is not currently installed.
My app is crashing immediately when I open it. What should I do?
If the app crashes immediately when you open it, there is an issue with the local data and you will need to delete and reinstall the app. Don't worry; all of your information will be there after you reinstall the app. Also, please check the app store as the app might need an upgrade.
Can I close my account at any time?
Yes, you can do this using the email contact form at www.changebowl.com . Please note that uninstalling the app does not close your ChangeBowl account, nor does it cancel any pending or scheduled transactions from your checking account into your virtual ChangeBowl account.
How do I add funds to my Charity account?
Round-ups: You may link your spending accounts (credit, debit, Paypal, etc.) and then round up the virtual change from every transaction. These round-ups can then be manually or automatically moved into your virtual ChangeBowl account. Round-ups can be viewed on the "round-ups" screen of the app. Automatic round-ups can be turned on and off under the "Automatic" section of the settings screen. When enabled, automatic round-ups will be automatically invested for you.
Note: These transactions may appear on your bank statement as 'ChangeBowl'
Deposits and Withdrawals
Can I withdraw my money whenever I want?
Yes, However after 30 days of ChangeBowl withdrawing money, then USA anti money laundering laws prohibit this.
Can I change my funding account?
Yes. If you wish to change your funding account, you must first unlink your current checking account, and then add a new funding account. In accordance with our anti-fraud procedure, you may be required to verify two small deposits (Random Deposit Verification) that we will make into your new funding account.
I received an NSF (non-sufficient funds) or overdraft fee on my checking account (funding source) because of ChangeBowl! Can you reimburse me for this?
ChangeBowl reminds all customers to always make sure that their checking account has the proper funds before committing an investment in the app. If, for any reason, investments made by you (or because of a setting which you configured in the app) are charged back due to non-sufficient funds or cause an overdraft on your checking account, ChangeBowl will not be responsible for any of these NSF or overdraft fees charged to you by your bank.
Can I see a flow diagram where my money goes? (the blue boxes below are a sequence flow diagram)
Our goal is to enable You to give over 90% of your donated money to the CAUSE You care about.
How does ChangeBowl make money?
ChangeBowl is totally free to sign up. We make a percentage of each transaction when withdrawing the RoundUp funds from your account. Currently this is 48 cents on $5. On top of this, we take around another 10 cents for credit card withdraw. This amount is used to maintain the servers, security of the application and the company.
ChangeBowl never charges the non-profit. Our goal, like Yours, is to maximize their money so they can focus on what they do best. .. doing good.
I set automatic round-ups? Automatic round-ups can
be turned on and off on the 'Settings' section under the 'Automatic Roundup' setting. Can I
still use round-ups without making them automatic? Yes. If automatic
round-ups are turned off, you can go to the 'Round-ups' screen and manually
select which round-ups you want to save. Is
there a limit on the number of cards I can use for round-ups? Happily, You can link as many cards as you like. How
does tipping at a restaurant affect round-ups? Round-ups are based on
final amounts charged to your card, including tips.
How do I set automatic round-ups?
Automatic round-ups can be turned on and off on the 'Settings' section under the 'Automatic Roundup' setting.
Can I still use round-ups without making them automatic?
Yes. If automatic round-ups are turned off, you can go to the 'Round-ups' screen and manually select which round-ups you want to save.
Is there a limit on the number of cards I can use for round-ups?
Happily, You can link as many cards as you like.
How does tipping at a restaurant affect round-ups?
Round-ups are based on final amounts charged to your card, including tips.
Let us know how we did on the FAQ. If your question is addressed please email us.