Save Smarter with Automatic Transfers
Save First, Spend Second
Get closer to your savings goals sooner by paying yourself first. Instead of waiting until the end of the month to see how much you have left to save, commit to a set savings amount at the beginning of every month with an automatic transfer.By saving each month before you spend (and not touching the account that will get you closer to the goal or lifestyle you want), you’ll align your spending with your savings strategy—and reach your goal faster.
Interest on Interest
When you save consistently, you’ll start benefiting from compound interest: interest earned on the money you’ve saved, plus the interest you’ve already earned.This means that you don’t just earn interest on the money you transfer into your savings account; you also earn interest on the interest that those automatic transfers are earning you.
Out of Sight, Out of Mind
Sometimes the best way to reach your savings goal is by just keeping your eyes off the money adding up in your account. That way, you’re not tempted to spend the money you’re trying to save. By automating your monthly savings, you won’t need to access your savings account to transfer money—and you can hide your account completely from view within online banking.Watch this demo to see how to hide and unhide your accounts.
How to Set Up Automatic Transfers:
- Open a savings account.
- Calculate how much you need to save monthly to reach your goal using our savings calculator.
- Set up your automatic transfer:
- Log into your online banking account
- Click “Transfer Funds” in your main menu
- Click “Funds Transfer” in the dropdown of options
- Select your checking account in the “From Account” box
- Select your savings account in the “To Account” box
- Enter the amount you’d like to save each month
- Choose monthly as your frequency
- Select the date you’d like the transfer to occur each month
- Click “Transfer Funds”
