Setting up a recurring deposit in the Beanstox app only takes a few minutes, but can set you up for a future of seriously simple investing!
Note: To set up recurring deposits, you should already have your bank account linked. If you haven’t done that yet, read our article Can I link multiple banks or funding sources? or How do I open a Beanstox account? to complete that step first.
Creating a Recurring Deposit
To set up your recurring deposit, select the goal for which you’d like to add a recurring deposit. Depending on the number of goals you currently have, there could be more than one option per goal to choose from.
To add a recurring deposit, first choose your goal. Then follow the steps outlined below:
- Tap “See Plan” button on your account
- Tap “Edit” button in your Plan Summary
- Set the recurring deposit amount you would like to invest
- Select Week or Month to set the frequency of your recurring deposit
- Tap “Save” button to save your new recurring deposit
Note: if you would like to cancel your recurring deposit, tap the “Cancel RSP” link below the Save button.