OREANDA-NEWS. February 01, 2013. On average, Estonians use bank cards on 17 days a month and by using cash they receive back coins worth 14.45 euros in change, as the experience of the SEB Digital Coin Jar shows, reported the press-centre of SEB.

Two months ago SEB introduced a novel saving solution, Digital Coin Jar, which enables accumulating cents on the card payments made by the customer. At the end of each day, the bank system rounds up the debit card payments to the next full euro and transfers the difference between the rounded and paid sum by next morning from the customer's current account to their savings deposit

Since November 17,230 people have saved about 300,000 euros by setting aside cents.

“The novelty and uniqueness of SEB's saving solution has proved itself on the market as the follow-up survey of the Digital Coin Jar indicated that 40% of the respondents wish to save but generally are unable to do so from their monthly budget while 24% deposit their savings only if the amount is large. The Digital Coin Jar enables card users to accumulate small amounts without even noticing,” explains Eerika Vaikmae-Koit, head of SEB's Retail Banking and Technology Area.

Of the users of the virtual piggy bank, 56% are women and 25-year-old young people are the most eager users of this saving method. In total, SEB customers conduct more than five million bankcard transactions per month.

SEB customers can activate their Digital Coin Jar via the Internet Bank or at a branch. A contract for the Digital Coin Jar is for an indefinite term, and opening and using the service is free of charge.