Saving money doesn't come naturally to everyone but we all have goals we want to achieve. That's where automation can help.
Automating your savings will turn those deposits into another monthly expense, helping you to prioritize your savings contributions. In turn, you'll also be:
- Saving time (no more manual transfers)
- Contributing consistently (maximizing compound interest)
- Paying down debt faster (a little goes a long way)
We have tools to help you save money, budget better or invest regularly all with the convenience of automation.
Top-Up Savings lets you save as you spend by automatically transferring money to your savings account each time you make a purchase using your debit card. Choose to either round your purchases (save the spare change) or top-up with a fixed amount each time and grow your savings — no effort required.
MyGoals (our digital goal tool available in online banking) makes building a plan to reach your goals easy. It lets you schedule deposits based on your budget or your desired achievement date. Real-time visualization of your savings progress will keep you motivated along the way. Use the tool for whatever you're saving for: an emergency, an education fund, a new business, a home or any other special purchase.
Pre-authorized contributions (or PACs) work by making regularly scheduled transfers from your account into a savings account. You choose the frequency that works for you (weekly, bi-weekly, monthly), schedule the amount you want to contribute and then, voila! You can watch your savings grow all thanks to your PAC plan.
By automating your savings contributions, you'll not only be saving time and maximizing the effect of compound interest, but you'll also feel good knowing you're on track to achieve your financial goals.
Originally posted on October 2, 2019.