Recurring Deposits

What are recurring deposits?

Recurring deposits allow you to schedule automatic transfers into your account so you do not need to initiate each deposit manually. Recurring deposits funded by ACH are available for cash brokerage accounts, margin accounts, IRA accounts, and joint accounts. Recurring deposits funded by Debit Card are available only for cash brokerage accounts and margin accounts.

Methods Supported: You can set up recurring deposits via ACH or Debit Card.
Account Limits: Up to four active recurring deposit schedules are allowed per account. Only one active recurring deposit plan is allowed for each frequency type. For example, you may have one weekly plan and one monthly plan, but not two weekly plans.
Minimum Amount: Each deposit must be at least $1.
Settlement time: Funds are debited on your selected date. ACH deposits typically settle within 3 to 4 business days, while Debit Card deposits typically take up to 30 minutes to settle.
Restrictions: Recurring deposit plans will be canceled automatically if a deposit restriction or freeze is placed on the associated ACH account or Debit Card, or if the linked bank account or Debit Card used for the recurring deposit plan is unlinked from your account.

How do I start a recurring deposit plan?

Before setting up a recurring deposit plan, make sure you have a bank account linked via ACH or a debit card linked to your account.

To link a bank account, see Linking Your Bank.
To link a debit card, see Linking Your Debit Card.

Once your funding method is linked, you can follow the steps below to create a recurring deposit plan.

Mobile App:

Tap Account (bottom center) and select your account.
Select Transfers ➝ Manage Recurring Deposit.
Choose your deposit method.
Choose the frequency of the transfer.
Enter the desired amount for the deposit plan.
Review all the information to ensure it is accurate.
Tap Set Recurring Plan.

Mobile App (Lite):

Tap the Invest page (Chart icon) in the bottom left.
Select Banking & Transfers.
Choose your deposit method.
Choose the frequency of the transfer.
Enter the desired amount for the deposit plan.
Review all the information to ensure it is accurate.
Tap Set Recurring Plan.

Desktop App:

Hover over the icons on the left and click Account (if hidden, click on More).
Select Deposit. This will guide you to the Transfer Money page on the web browser.
Select Recurring Deposit on the left under Transfer Money.
Choose the frequency of the transfer.
Choose your deposit method.
Enter the desired amount for the deposit plan. Select the day if applicable.
Review all the information to ensure it is accurate. Click Review ➝ Set Recurring Plan.

Website:

Navigate to My Account.
Select Recurring Deposit on the left under Transfer Money.
Choose the frequency of the transfer.
Choose your deposit method.
Enter the desired amount for the deposit plan. Select the day if applicable.
Review all the information to ensure it is accurate. Click Review ➝ Set Recurring Plan.

How do I view, modify, or cancel an existing plan?

Please note that the frequency of a recurring deposit plan cannot be modified. To change it, you must cancel the existing plan and set up a new one. Ensure that your linked bank account has sufficient funds to prevent transfer reversals and potential account restrictions.

For help viewing, modifying, or cancelling your plan, please use the following instruction:

Mobile App:

Tap Account (bottom center) and select your account.
Select Transfers ➝ Manage Recurring Deposit.
Use the Pencil icon next to the current amount to modify the amount or tap the top of plan's tile to view details, modify, or cancel the recurring deposit.
Tap Modify Recurring Amount to modify the recurring deposit amount.
Tap Cancel to terminate the Recurring Deposit in advance of the next payment.

Desktop App:

Hover over the icons on the left and click Account (if hidden, click on More).
Select Deposit. This will guide you to the Transfer Money page on the web browser.
Select Recurring Deposit on the left under Transfer Money.
Use the Pencil icon next to the amount to change the amount or tap the top of plan's tile to modify the plan.
Choose Modify to change amount.
Select Cancel to terminate the plan.

Website:

Navigate to My Account.
Select Recurring Deposit on the left under Transfer Money.
Use the Pencil icon next to the amount to change the amount or tap the top of plan's tile to modify the plan.
Choose Modify to change amount.
Select Cancel to terminate the plan.

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