A new “digital piggy bank” is helping expats in Spain save money in a very straightforward way. The idea is based on the popular albeit counterintuitive concept of saving money while spending money. That is what Caser’s Cling Cling digital piggy bank aims to do with the money of the clients taking out this product. But how does this automatic money-saving plan work?
In two different ways: by giving you a percentage of your money back and by easily letting you save your money.
Money That You Get
With Caser’s Cling Cling money-saving insurance you get:
- 1% of everything you buy with the Cling Cling card
- some % extra of everything you buy at so-called partner companies (when buying clothes, sport items, furniture). Caser has reached an agreement with over 150 companies like IKEA or Decathlon in Spain.
- a % of some household bills with direct debit at selected partner companies
- rewards for your contribution to humanitarian and joint actions in a gamified way. As an example: could you imagine getting € 0,10 for every plastic bottle you deposit back?
Money That You Save
Cling Cling allows you to inadvertently save money when going about your life and spending your money in your daily activities. This is achieved in different ways:
- by automatically rounding up your expenses to the nearest amount previously decided by you. With this system you can decide to round up € 5.3 to € 6 or to the nearest ten i.e € 5.3 to € 10. The remaining amount (€ 0.7 or € 4.7 in the examples before) will effortlessly be put aside in your account.
- by setting aside some money monthly or quarterly to be transferred into your digital money-saving insurance account.
- by tying money transfers to the completion of personal challenges like you walking 10,000 steps a day or your favourite team winning a match. When a challenge is completed money is saved.
The goal with Cling Cling is to help you save money for future use seeing it as a complementary pension or retirement savings account and using compound interest on savings to work wonders on your account over the years.
More advantaged of Caser Cling Cling:
- No need to change your bank account
- There are no annual or maintenance fees
- The card is also available as a wallet for Apple, Wizink or Samsung Pay
- With the Cling Cling app you can easily geolocate partner companies and businesses around you and access campaigns and promotions
If you are interested to know more about Caser’s Cling Cling please read more here.