Pots
Emma Pots
What are Emma Pots? We’ve introduced Emma Pots to help you save for the things that really matter to you. Emma Pots will enable you to create savings pots - places where you can set money aside to help you reach your financial goals. You can create multiple savings Pots for anything you need or your heart desires, such as a holiday, something special or an emergency fund for a rainy day! 💵 What are the different types of Emma PotPopularDo the Emma Pots generate interest?
If you open an Super Pot , you will earn interest on your money and this will vary depending on your Emma Subscription Plan. Free Plan - 2.47% AER Emma Plus - 2.88% AER Emma Pro - 3.74% AER Emma Ultimate - 4.01% AER If you open an Easy Access Pot , you will earn interest on your money and this will vary depending on your Emma Subscription Plan. Free Plan - 2.44% AER Emma Plus - 2.85% AER Emma Pro - 3.71% AER Emma Ultimate - 3.98% AER If you open a 45 DaySome readersWhat are the different types of Emma Pots?
What are the different types of Emma Pots? Easy Access Pots are types of Pots that allow you to easily earn interest on your money. When you put money in an Easy Access Pot, it is sent to a trustee, who deposits it with a bank you choose, on your behalf. 45 Day Notice Pots are types of Pots that allow you to earn higher interest by locking your funds for longer. When you put money in a 45 Day Notice Pot, it is sent to a trustee, who deposits it with a bank you choose, on your behaFew readersHow is interest calculated?
The AER value, or Annual Equivalent Rate, is used to show what you would earn in interest from different savings accounts over a year. The percentage shown is not what you will earn daily based on your current savings. For example, if you had £1000 in your Savings with a rate of 3% AER, in a month you would earn £2.50 and over a year you would make £30. Click here to use this interest calculator on tFew readersWhat is an Earned Interest Pot?
Emma Save allows you to open as many interest-generating Pots as you wish! To make things easy to manage, all interest generated across all of your Easy Access Pots and 45 Day Notice Pots will be added and displayed in one place. This will be called “ bank Interest” Pot. You may end up with more than one of these interest Pots, depending on which Savings Pots you have open. You can tap on these Pots to view how much interest your pots have generated overtime in more detail.Few readersWhere can I get Emma Pots statements?
You can download Emma Interest Pots Statements by following the steps: Go to the Save Tab Click on the cog icon at the top right. Select the Interest statement.Few readersWhy is my Pot interest rate different?
Bank of England Our new interest generating Emma Pots, the Easy Access and 45 Day Notice Pots, have a variable interest rate. They are base rate trackers, which means they track the base rate of interest which is set by the Bank of England. When the Bank of England change the base rate of interest, our partner bank changes the rates of the Pots to reflect this. You can see this in the Rate information available in the app, and you can see the rate when viewing your Pot. New Pots YouFew readersWhere is my Save Pot account number?
In order to provide interest-generating Pots, Emma has partnered with top providers to give you the best saving experience 🙌 This means that your Save Pots deposits are not held directly with us and are instead held with a bank, via a trustee. Three companies work together to provide you with any Easy Access or 45 Day Notice Pots. They are: ● us (we provide the function in our app); ● the trustee (they make the deposit on your behalf and operate the accounts in which deposits are held); ●Few readersHow long do Pot withdrawals take?
How long do Save Pot Withdrawals take? If you want to withdraw funds from a Pot to your bank account, you must first withdraw funds from the Pot to your Emma Wallet Available Balance. You will only be able to withdraw funds from your Withdrawable Cash Balance, which is shown after clicking the Withdraw button on the Save section dashboard. Depending on what type of Pot you’ve withdrawn the funds from, willSome readersCreate a Pot
Creating a Pot Follow these steps to create a new Pot: Open Emma App Select the Save tab Select Create new Pot Choose which type of Pot you want to create Choose a name for your new Pot Optional: toggle on I have a goal to set a Savings Goal (available on Emma Plus, Pro and Emma Ultimate subscription plans) Select Continue Choose your new Pot Icon and select Save If you hFew readersWithdraw money from a Pot
How can I withdraw funds from Emma Save Pots? If you’d like to withdraw funds from your Emma Pots back to your bank account , you will need to move them from your Pots back to your Available Balance first. Moving Funds out of Emma Pots back to Available Balance Follow these steps to move funds out of your Pot back to your Available Balance: Select Save tab Select the Pot you’d like to move funds fSome readersDelete a Pot
Deleting Pots If you’d like to delete a Pot, please follow these steps: Go to the Save tab Select the Pot you’d like to delete Click the settings Cog Icon in the top right corner of the screen Click the delete Bin Icon in the top right of the screen If you have any further questions, reach out to us hereFew readersMove money between Pots
Moving funds between Pots To transfer funds between Pots, please follow these steps: Go to the Save tab Select the Pot you’d like to move funds from Click Withdraw Select the Pot to transfer to and click Deposit Enter the transfer amount and click Continue If you have any further questions, reach out to us here ✍️Few readersView Pot history / activity
How can I view my Pot deposit, withdrawal and transfer history? Follow these steps to view your activity in Emma Save: Select the Save tab Click the Bar Chart Icon in the top right The Activity Section will display the history of all deposits, withdrawals and transfers you’ve made in Emma Save. If you have any further questions, reach out to us here ✍️Few readersHow do I edit an Emma Pot?
Editing Pot name, Icon or Goal If you’d like to edit your Pot name, icon or goal, please follow these steps: Go to the Save tab Select the Pot you’d like to edit Click the settings Cog Icon in the top right corner of the screen Select Pot name, Emoji or Goal If you have any further questions, reach out to us here ✍️Few readersHow long do Pot deposits take?
In order to transfer money to a Pot, you will need to deposit first in your Emma Wallet balance. If you choose to move your funds from your Emma Wallet balance to your Pot, they will be transferred instantly 💪 If you have any further questions, reach out to us here ✍️Few readersAdd money to a Pot
Depositing funds to Emma Wallet Available Balance To deposit funds into an Emma Pot and start saving, you will first need to add funds to your Emma Wallet. Your Available Balance is the total sum of funds added to your Emma Wallet account, which are currently not tied up in any investments or held in Pots. Your Available BalanceFew readers
Autosave 🇬🇧
What is Emma autosave? 🇬🇧
Emma's autosaves are small weekly amounts collected from your primary bank account and moved to your Emma Wallet and Emma pots. These weekly amounts are processed by using Direct Debit payments with a third party provider, Bottomline. You can access Bottomline's Privacy Policy here. Your autosaves are protected by the Direct Debit Guarantee and the payments will show as “EMMA APP TRANSFER” or "EMMA AUTOSAVE" on your bank statement. How long dFew readersHow much is saved per week with the AI savings mode?
Emma's autosaves come with three different modes: AI savings, Round Ups and Custom Deposits. The AI savings mode weekly computes an adequate amount that can be moved to the pots based on the current balance and future spending patterns. This amount is dynamic and will change throughout the month; since this calculation is based on your primary bank account balance, you will notice bigger saved amounts after payday and smaller ones closer to the next payday cycle.Few readersDo autosaves come with a transaction fee? 🇬🇧
Autosaves are free on Emma Pro and Ultimate plans. They come with a fee of £0.50 per autosave on Emma Free and Plus plans.Few readersHow do I cancel an autosave? 🇬🇧
Upcoming autosaves can be cancelled 24 hours before the collection of the funds. You can pause autosaving at any time in the app from the Save tab. If you are looking to cancel the direct debit mandate, you can do so by contacting Emma or your bank directly.Few readersHow do I change my autosave?
Emma's autosaves are small weekly amounts collected from your primary bank account and moved to your Emma Wallet and Emma pots. Can I change my saving rules? Yes! You can use one rule at a time, have two running at once, or use all three! Open the Emma App Navigate to the Save tab Tap Autosave Tap the saving rule that you'd like to change. Toggle it on or off, then set up the rule :) Can I change my allocation? Yes! The allocation is how you want the money to beFew readersWhy has my autosave failed?
Autosaves are calculated each Sunday and are requested from your nominated bank account on Monday. Your autosave might not be collected if your predicted account balance was below our minimum threshold for a collection. Your autosave can also fail if your bank declines the payment, for example if it will take you into your overdraft or over your arranged overdraft limit. The information on your autosave is on the Save tab in the Emma app Open the Emma App Navigate to the Save tabFew readers
What is the Financial Services Compensation Scheme (FSCS)?
The Financial Services Compensation Scheme (FSCS) is an independent fund set up by the government to protect people’s money. The FSCS covers certain companies that have been authorised by the UK regulators, the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA), like banks, building societies, credit unions or other financial institutions. The FSCS protects eligible deposits up to the amount of £85,000 per person, per financial institution. https://www.fscs.org.uk/Few readersApplication Under Review
My Application is Under Review - what does that mean? As a financial services provider, we are required to verify the identity of all of our customers. This process is known as Know Your Customer Checks. As part of this process, we may ask you for additional documents before you can start investing, or open Pots with Emma.Few readersHow do I change my withdrawal bank account?
If you want to change your withdrawal bank account used to withdraw funds from Emma Invest or Save, you will need to contact the Emma Support Team. We will need to confirm which account you would like to use instead and verify the account before we can make the changes. To request the withdrawal account change, please reach out to the support team by going to the Feed tab, tap your profile in the top left, select Help in the top right and then Chat to a human. You can also send tFew readersWhere can I get Emma Wallet Statements?
You can download Emma Wallet Statements by following the steps: Go to the Save Tab Click on the cog icon at the top right. Select the Emma Wallet Statement.Few readersWhy can't I find Emma on the FSCS register?
Emma has partnered with top providers to give you the best saving experience 🙌 This means that your Pots deposits are not held directly with us, so you won't find 'Emma Technologies' on the Financial Services Compensation Scheme (FSCS) website as 'Protected'. Your Pots deposits are held with our partner bank, whose FCA number will show as 'Protected' on the FSCS register. Who is providing the Easy Access and 45 Day Notice Pots? Three companies work together to provide you with any EasyFew readersCan I use Emma Save as a US citizen?
If you are a US citizen or have dual citizenship with the US, it is not possible to open an Emma Save account. This is due to the regulations imposed by the US government on its citizens. FACTA regulation requires companies to report information on when any sums are paid to or for a US person, regardless of where in the world that payment is made. We're unable to provide these reports. Given the strict requirements imposed by the US government, this prevents us from providing this service toFew readersHow do I withdraw funds from my Emma Wallet?
Withdrawing funds from your Emma Wallet To withdraw funds from your Emma Wallet, follow these steps: Open Emma Select the Save tab Tap on Withdraw 💸 Alternatively, you can access your wallet straight from the Feed: Open Emma Select 'Everyday' at the top of your Feed tab Tap Emma Wallet Tap on Withdraw 💸 You will only be able to withdraw funds from your Withdrawable balance. This is cash that is available to be sent to your withdrawal bank account. Your UnsettFew readersWhat is the Emma Super Pot?
The Emma Super Pot is a high-interest savings feature that lets you earn interest on your cash while keeping it protected. When you deposit money into your Super Pot, it is swept into one or more FSCS-participating banks via our partner Bondsmith. This means your money becomes eligible for FSCS protection—up to £85,000 per bank, and a total of up to £255,000. Bondsmith actively manages your deposits, reallocating funds daily across available banks to optimise returns and ensure protection. InteFew readersWhy is my deposit getting rejected?
If your deposits are getting rejected, it's usually because our payment provider can't match the name on your bank account to the name registered on your Emma account. This issue commonly occurs with: Joint accounts Business accounts Some personal accounts To resolve this issue, we recommend trying to make the deposit from a different personal account that clearly matches your name registered with Emma.Few readersEmma Wallet Available Balance
What is my Emma Wallet Available Balance? Your Available Balance is the total sum of funds added to your Emma Wallet account, which are currently not tied up in any investments or held in Pots. This is the combination of your Withdrawable Cash and your Unsettled Cash. Your Available balance can be moved to Pots, withdrFew readers