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How do I set up automated deposits to my Credit Karma Money Spend or Save accounts?

SOLVEDby TurboTaxUpdated 6 days ago

Set up a regular transfer into your Credit Karma Money Spend or Save accounts to help your money grow. Follow the steps below to learn how to schedule automated deposits. 

  1. Access your Credit Karma Money Spend or Save accounts.
  2. Select Set up automated deposit
  3. Choose the amount you want to deposit into your Credit Karma Money Spend or Save accounts.
    • You will be able to see an estimate of how your automated deposits will impact your balance over time. This estimate is based on the APY at the time you set up the automated deposit and may change over time. 
  4. Select Frequency to set how often you want the automated deposit to occur. You can choose Every weekEvery other week or Every month
  5. Select Start Date to choose the first automated deposit will occur. 
  6. After you have made your selections, choose Set up automated deposit.
  7. You will see a confirmation screen, if everything looks correct choose Confirm

Automated deposits will repeat for the amount and frequency that you specify until you cancel them. You have until 4pm Eastern Time on the scheduled date to cancel your automated deposits. You cannot cancel transfers that are already pending. 

When you schedule automatic deposits, they are initiated on the dates you specify and will typically arrive in your account 1-2 business days later, due to transaction processing time. For example, if you schedule weekly automatic deposits to occur on Mondays you might see the funds in your Credit Karma Money Spend or Save accounts on Tuesdays. The transaction review screen will estimate when funds will be available. 

To avoid an overdraft on your connected external bank account, make sure that you have enough available funds to cover your automated deposit before it occurs. It is up to your external financial institution to approve or decline the transfer request for insufficient funds to your Credit Karma Money Spend or Save accounts, which may result in a fee or penalty.

Banking services provided by MVB Bank, Inc., Member FDIC. Maximum balance and transfer limits apply. 
*A maximum of 6 withdrawals per monthly savings statement cycle may apply.

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