Schedule Money Account Transfers

Community Support
1

I am wondering if there is a way to set up automatic transfers between high interest savings accounts and the the everyday spending account. I would like to be able to setup recurring transfers of a set amount but can’t find a way to do this in my accounts.

1 Like
2

Hi @pga , thanks so much for reaching out, great question! You absolutely can. That’s our Auto-Save feature, which lets you automatically set aside a recurring portion of your funds. You can set it up with an external account, or between your Neo Everyday, Neo Cash, or Neo High-Interest Savings accounts.

Here’s how:

Neo App

  1. Log in to the Neo app

  2. Go to the Accounts tab and select your account

  3. Tap Automate and set up Auto-Save

Web

  1. Log in at member.neofinancial.com

  2. Click on Money from the left-hand menu and select your account

  3. Click on Auto-Save and toggle it on

  4. Choose your account and enter the required information

  5. Click Review, then Confirm

You’ll also have the option to edit the deposit dates or disable Auto-Save at any time. Just be sure to disable it before the next scheduled deposit to avoid an unexpected transfer, as electronic fund transfers can’t be canceled once the deposit date has passed.

If you need more details please be sure to check out our Help Centre article here, hope this helps! Let me know if you have other questions, happy to help :hugs:

3

Hi Sana. I have successfully set up one Auto-Save for a recurring account transfer from one of my HI savings accounts to my Everyday Spending account. I would like to set up a second recurring transfer from a different HI savings account to my Everyday Savings, but it doesn’t look like there is a option to do multiple Auto-Saves. Is there an option to do this? I would prefer to keep my HI accounts separate and transfer from each account as required. Thanks.

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4

Appreciate you flagging this @PGA ! I’ll connect with the team and will share an update here as soon as I have more details.

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@Sana_Neo i’m interested in this feature if the beta option is still open. feel free to DM me.

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Hi @_rp , thanks so much for your interest! Unfortunately, we’ve already hit the cap for this round of beta testing for this feature. That said, if any new opportunities come up, we’ll definitely keep you in mind.

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7

Hi @PGA , I have an update for you on your Auto-Save question! Each account can only have one Auto-Save transfer set up at a time. This means you can link just one HISA to automatically save into your Neo Everyday account.

A workaround is to transfer the funds you’d like into that single HISA, so you can still operate your Auto-Save as usual.

Your question sparked a really valuable conversation within the team about how we can improve this process, so thank you for raising it! :hugs:

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Thanks as always for your quick response. I am glad it at least sparked a discussion. Just for clarification, I keep funds in different HISA’s for different purposes (savings for car payment and other loan). I have typically kept these separate for tracking, then monthly I transfer to Everyday spending then etransfer to my main bank to cover the payments. Probably more complicated than it needs to be. Based on the above single Auto-Save, I will consolidate my bill payment funds into a single HISA, then setup an test the recurring etransfer. I think it will work just fine.

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