What is Auto-Save and how do I add funds to my Auto-Save pocket?
How do I add funds to my Auto-Save pocket?
A: 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 at any time, you will only be able to add funds to this pocket through a qualified income direct-deposited up to $1,000 per calendar month. 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 setting up to $1,000 per calendar month..
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.
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.
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