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Can I set up automatic savings transfers through Internet banking?

Curious about Internet banking

Can I set up automatic savings transfers through Internet banking?

Yes, many Internet banking platforms offer the option to set up automatic savings transfers. This allows you to automate the process of transferring funds from your checking account to your savings account on a regular basis. Here's how you can set up automatic savings transfers through Internet banking:

1. Log in to your Internet banking account using your username and password.

2. Navigate to the account settings or transfers section. This section is usually located in the main menu or under a transfers or payments tab.

3. Look for the option to set up automatic transfers or recurring transfers. It may be labeled as "Automatic Transfers," "Scheduled Transfers," or something similar.

4. Select the checking account from which you want to transfer funds and the savings account to which you want the funds to be deposited.

5. Choose the frequency of the transfers. You can typically select options such as weekly, biweekly, monthly, or custom intervals.

6. Enter the transfer amount. This can be a fixed amount or a percentage of your paycheck or balance.

7. Specify the start date for the automatic transfers. You can choose to start the transfers immediately or on a future date.

8. Review the transfer details to ensure they are accurate and match your savings goals.

9. Confirm and save the automatic transfer setup.

Once you set up automatic savings transfers, the specified amount will be transferred from your checking account to your savings account based on the selected frequency and start date. This helps you save regularly without having to manually initiate the transfers each time.

It's important to note that the availability and specific steps for setting up automatic savings transfers may vary depending on your bank's Internet banking platform. If you are unable to locate the option or need further assistance, consider contacting your bank's customer support for guidance tailored to your specific account and platform.

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