The Consumer Financial Protection Bureau and American Express announced an effort Friday that uses prepaid cards to encourage low- and moderate-income consumers to save.

American Express will be promoting a savings account feature on its Serve Prepaid Cards in an effort to increase the number of savers and the amounts they keep in the electronic debit card banks.

Serve customers who take advantage of the savings account options are currently putting away more than 25 percent of the money they add to their cards, according to American Express.

“This project can help us better understand how to promote saving among consumers, especially those who may be low-income and economically vulnerable,” said CFPB Director Richard Cordray.