What is Auto-Save?
Auto-Save helps you automatically save a little more each month. Once enabled, you can contribute 1-10% of your direct deposit into your Auto-Save Pocket, where those funds will earn 3.00% annual percentage yield (APY)*. Your Auto-Save Pocket has no fees, monthly balance minimums, or withdrawal limits!
While you can move money out of your Auto-Save Pocket, you can only add funds to this Pocket through a qualified income direct deposit of up to $1,000 per calendar month. You cannot make a Pocket to Pocket transfer to Auto-Save.
Auto-Save requires (i) a recurring monthly direct deposit of income into your ONE account and (ii) a decision to save a portion of each direct deposit (the “Auto-Save transfer”). Each Auto-Save transfer is anywhere from 1-10% of the deposit depending on your settings and up to $1,000 per calendar month.
What is the minimum direct deposit amount required?
In order for a paycheck Auto-Save contribution to be made, direct deposits must be greater than or equal to $10.00 USD.
How do I turn Auto-Save ON?
To change your Auto-Save settings, visit your Auto-Save Pocket details, tap the settings dots in the top right corner and toggle Auto-Save ON. Once enabled select the percent of each paycheck you’d like transferred in from the selector.
Here, you can also adjust the monthly contribution chosen from your direct deposit.
If you have chosen to divide your direct deposit among multiple Pockets, the designated percentage of that direct deposit will first move to Auto-Save when a direct deposit occurs.
Auto-Save with a shared Pocket
If both parties have a direct deposit sent to a shared Pocket with Auto-Save ON, only the owner of the shared Pocket will receive contributions in their Auto-Save Pocket. The % transferred to Auto-Save is based on the individual direct deposit.
Fun fact
Card Auto-Save does not factor into the $1,000 transfer limit to your Auto-Save Pocket
Click here for information about setting up a direct-deposit into your ONE account.
*Annual Percentage Yield effective as of 6/1/2020 and subject to change
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