What is an autosave? 🇬🇧
Emma's autosaves are small weekly amounts collected from your primary bank account to your Emma wallet and Emma pots.
These weekly amounts are processed by using direct debit payments with a third party provider, GoCardless. You can access GoCardless’ privacy note from here.
Your autosaves are protected by the Direct Debit Guarantee and the payments will show as “EMMA APP TRANSFER” on your bank statement.
Autosaves work with Direct Debits which usually take between 3 to 10 days to set up.
We currently support three different autosaving modes:
AI Saving - this is a fully automated mode which calculates the right amount to be saved every week. You can find further information here.
Round Ups - this rounds up your spending to the nearest £1 across all the active Emma accounts and adds it together to come up with a final amount to be collected. This mode comes with a multiplier feature that allows customers to multiply the final about by 2x, 3x, 4x or 5x.
Custom Deposits - this allows the selection of a fixed amount to be collected every week.
If you have autosaves enabled, you can simply:
Open the Emma App
Navigate to the Save tab
Tap Autosave
Tap on See All next to "Activity"
Tap on any row to see the details of each individual autosave - this section will show you when the money was collected and deposited and also how the amount was computed
At this point, autosaves have a fixed weekly frequency.
The Emma App will notify of the upcoming collection every Sunday and will give customers 24 hours to cancel the collection on Monday afternoon.
Your funds will be reflected in the Emma App on Friday; it takes 3 days to settle an autosave payment.
Yes, the allocation is how you want the money to be deposited in Emma.
The Funds can either go into your Emma Wallet or any of your pots; you can also select the percentage of funds you want to allocate. For example, 30% to Emma Wallet and 70% to an Easy Access Pot.
The Pot allocation is set the first time you enable autosaves in Emma. However, you can also modify this at anytime from the main autosave panel, you can simply:
Open the Emma App
Navigate to the Save tab
Tap Autosave
Tap on "Allocation" - this is located in the "Collection details" section
How do I cancel an autosave?
Do autosaves come with a transaction fee?
These weekly amounts are processed by using direct debit payments with a third party provider, GoCardless. You can access GoCardless’ privacy note from here.
Your autosaves are protected by the Direct Debit Guarantee and the payments will show as “EMMA APP TRANSFER” on your bank statement.
How long does it take to set up an autosave?
Autosaves work with Direct Debits which usually take between 3 to 10 days to set up.
What types of autosaves do you support?
We currently support three different autosaving modes:
AI Saving - this is a fully automated mode which calculates the right amount to be saved every week. You can find further information here.
Round Ups - this rounds up your spending to the nearest £1 across all the active Emma accounts and adds it together to come up with a final amount to be collected. This mode comes with a multiplier feature that allows customers to multiply the final about by 2x, 3x, 4x or 5x.
Custom Deposits - this allows the selection of a fixed amount to be collected every week.
Where is my money?
If you have autosaves enabled, you can simply:
Open the Emma App
Navigate to the Save tab
Tap Autosave
Tap on See All next to "Activity"
Tap on any row to see the details of each individual autosave - this section will show you when the money was collected and deposited and also how the amount was computed
Can I change the frequency of autosaves?
At this point, autosaves have a fixed weekly frequency.
The Emma App will notify of the upcoming collection every Sunday and will give customers 24 hours to cancel the collection on Monday afternoon.
Your funds will be reflected in the Emma App on Friday; it takes 3 days to settle an autosave payment.
Can I change my allocation?
Yes, the allocation is how you want the money to be deposited in Emma.
The Funds can either go into your Emma Wallet or any of your pots; you can also select the percentage of funds you want to allocate. For example, 30% to Emma Wallet and 70% to an Easy Access Pot.
The Pot allocation is set the first time you enable autosaves in Emma. However, you can also modify this at anytime from the main autosave panel, you can simply:
Open the Emma App
Navigate to the Save tab
Tap Autosave
Tap on "Allocation" - this is located in the "Collection details" section
See further information
How do I cancel an autosave?
Do autosaves come with a transaction fee?
Updated on: 24/07/2024
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