This feature is activated by default. If you wish to turn off this feature send an email to firstname.lastname@example.org.
Automated Deposits ensure that you realise your Savings goals intelligently with optimal amounts transferred into your Savings Bucket each week.
In order for Automated Deposits to work the user must have done the following:
- They must have created a Savings Bucket
- They must have connected their Bank Account using Strowz's secure Open Banking API
- They must have completed Direct Debit mandate
Once the above steps are completed by the user Automated Deposits are activated.
With Automated Savings activated our intelligent system analyses your transactions to ensure that optimal savings per week are transferred to the Savings Buckets. The systems will also analyse cash requirements for standard expenses on the account.
Automated Savings enable you to have multiple Savings Buckets with different target dates, ensuring that your Savings goals are realised efficiently and optimally.
On Monday of each week you will receive notification by email from Strowz regarding the direct debit amount to be transferred to your Savings Buckets. You will then have this access to this money in your Saving Buckets within 3-5 days.