Have you been using Scheduled Transfers and loving it? We’ve enhanced this feature with the option to auto-move money every payday! Schedule a transfer using your paycheck direct deposit as the trigger instead of a fixed date. This allows your paycheck to automatically transfer into certain Pockets.
Auto-move money every payday
Schedule a transfer linked to your paycheck direct deposit instead of a fixed date. Automatically transfer custom amounts to certain Pockets every pay period:
How to set up a Scheduled Transfer
How to set up a direct deposit to your ONE account
Transfers will occur each time you receive a deposit that is recognized by our system as a direct deposit.
Can I specify which deposit to initiate the transfers?
At this time, you cannot specify which deposit will begin the transfer. Our system will initiate the transfer based on any recognized direct deposit to the Pocket set as the From field of the transfer's settings.
What if I have multiple direct deposit sources?
If you have multiple direct deposit sources and they arrive at the same time to the specified From Pocket, we will prioritize the deposits in the order the deposits are received. However, there is no guarantee the deposits will be posted in the exact order we receive them.
How do I keep expense reimbursements from triggering the transfer?
Any deposit arriving to the specified From Pocket that would be recognized by Auto-Save (including stimulus payments, tax refunds, tax credits, etc.) will attempt to trigger those scheduled transfers.
Tip: Avoid unwanted transfers occurring by setting up a “landing pad” Pocket for secondary deposits and income that is different from where your direct deposit arrives - this keeps them from triggering those transfers, and allows you more control on where your secondary income is then budgeted to!
Midge set up her bi-weekly direct deposit to arrive in her Spend Pocket. Midge also receives paychecks from a second source of income and only wants the bi-weekly direct deposit to trigger her Upon Direct Deposit transfers.
To do so, we suggest:
- Create Upon Direct Deposit transfer(s) to move funds From Spend to other Pockets.
- Route bi-weekly direct deposits to Spend Pocket.
- Route secondary paychecks to a custom-created Secondary Income Pocket.
- If Midge wants to, she can also set up Upon Direct Deposit transfer(s) that move funds From the Secondary Income Pocket!
- She can also use this Pocket for other deposits such as P2P services and transfers from other banks so she can easily track other incoming deposits.
FYI - If Midge creates Upon Direct Deposit transfers to move funds From Save (or any Pocket) to other Pockets, but no direct deposits arrive to her Save Pocket, no transfers will occur.
What happens if my paycheck doesn't have enough funds for my transfer?
If there are not enough funds to cover the transfer in the originating Pocket and overdraft protection/Pocket Protector are not enabled, the transfer will simply not complete itself. However, transfers will continue once the next direct deposit has been received.
How do Upon Direct Deposit and Scheduled Transfers work together?
If you have multiple deposits posted at the same time and scheduled transfers, we will try all of your scheduled transfers, even if all of them are unable to be completed due to lack of funds.
For the example below, if the $1500 fails due to lack of funds, the $20 transfer will still be attempted:
- I created a Pocket called “Expenses”
- I set up two “upon direct deposit” transfers, one called “Mortgage” for $1500.00, another called “Dog Food” for $20.00
- When a direct deposit hits the “Expenses” Pocket, “Mortgage” will always fire first. Then “Dog Food”
- If your deposit is only $400, Mortgage will be skipped, but “Dog Food” will still transfer
- If your next deposit is $3000, both will fire as scheduled