How to set up recurring deposits
Learn how to automatically deposit funds into your account each month.
March 13, 2024
It can be a lot easier to put aside money to invest when you don’t have to think about it. The Plynk app simplifies the process with recurring deposits.
Growing your investments
The more you’re able invest, the more opportunity your investments have to grow. One way to help accomplish this goal is to deposit a small portion of your monthly budget (whatever you’re comfortable with!) into an investing account.
Setting up recurring monthly deposits to your brokerage account
In just a few quick steps you can activate recurring monthly deposits from your linked bank account to your brokerage account in the Plynk app. Here’s how it works:
From the app home page, click on the “Move money” button.
On the “Move money” screen, select “Set up recurring deposit.”
Choose the amount of money you want deposited each month.
Pick the date you’d like to make your first deposit.
Review your choices, read and check the box for the Recurring Transactions Agreement, then tap “Schedule recuring deposit” and you’re all set!
Did you know?
Even if you don’t do anything with the money you deposit, it may earn more interest with the Plynk app than it would in a regular checking or savings account.
Read more: Here’s how you could earn more on your cash (without buying stocks)
Next steps to consider
Make a recurring deposit in the app.
Now that you’ve enabled regular deposits to your account, why not set up recurring investments as well? When you buy stocks or funds with the Plynk app, you have the choice between making one-time purchases or scheduling them for once a month.
Learn more about the strategy of dollar-cost averaging and automatic investing.