Savings Account Types & Incentives That Build Better Habits

Summary

This guide explains Finservly’s savings options and the built‑in incentives that help you save more, automatically. Features and availability may vary by country. For current rates, fees, and limits, always check the Finservly app.

Contents

- Quick comparison
- Account types (details and setup tips)
- Habit‑building incentives and how to unlock them
- Interest, fees, and limits (how it works)
- FAQs and troubleshooting
- How to open an account

Quick comparison

 

Account type	Access/withdrawals	Typical use case	Extras available
Everyday Saver	Flexible, no lock	Emergency fund, general savings	Round‑Ups, Auto‑Sweeps, Streaks
Goal Buckets	Flexible per bucket	Named goals (travel, tax, etc.)	Targets, Auto‑Deposit Boost
High‑Yield Lock Saver	Locked for 3/6/12 months	Medium‑term goals	Rate boost for no withdrawals
Round‑Up Saver	Auto from card spend	Micro‑savings, low‑effort habits	Round‑Up Match (promo)
Teen/Starter Saver	Flexible with limits	Ages 13–17 with guardian	Learning badges, Streaks

Account types

 

1) Everyday Saver

Best for
- Your rainy‑day fund or a general savings balance you may need to access.

Key features
- Variable interest; flexible deposits and withdrawals
- Compatible with Round‑Ups, Auto‑Sweeps, and Save Streak Boosts
- Safe‑to‑Spend view to avoid dipping into savings unintentionally

Setup tip
- Turn on Payday Auto‑Save (e.g., 10% of each paycheck) and a weekly top‑up.

2) Goal Buckets

Best for
- Organising savings into named sub‑accounts (e.g., “Travel,” “Tax,” “Home Buffer”).

Key features
- Create multiple buckets under one saver
- Set targets and due dates; track progress and projected finish date
- Optional “Withdrawal guard” that adds a 24‑hour pause before you move money out

Boost
- Auto‑Deposit Boost: maintain an automatic deposit for 3 consecutive months and unlock a temporary bonus rate on that bucket (see app for details).

3) High‑Yield Lock Saver

Best for
- Medium‑term goals when you won’t need the funds immediately.

Key features
- Fixed term (3/6/12 months). Higher rate than flexible accounts
- Early withdrawal not recommended; may reduce or forfeit interest
- Option to roll the balance at maturity

Setup tip
- Ladder terms (e.g., 3, 6, 12 months) so something matures regularly.

4) Round‑Up Saver

Best for
- Effortless micro‑savings from everyday card purchases.

Key features
- Rounds each card transaction to the next whole amount (or to a custom step) and moves the difference to savings
- Daily or instant sweeps; configurable caps per day/week

Promo (when available)
- Round‑Up Match: Finservly may match a percentage of your round‑ups up to a monthly cap. See app for current offer and terms.

5) Teen/Starter Saver (where available)

Best for
- Young savers (13–17) with a parent/guardian as an account sponsor.

Key features
- Spend limits, savings goals, and educational nudges
- Guardian visibility and approval for certain actions

Habit‑building incentives

- Save Streak Boost
 - Keep an automatic deposit running and make no withdrawals from a chosen account for X consecutive weeks/months to unlock a temporary rate boost.
 - Withdrawals break the streak; you can restart any time.

- Auto‑Deposit Boost (per Bucket)
 - Maintain your scheduled deposit (e.g., weekly or payday) for 3 consecutive months to earn a short‑term boost on that bucket.

- Round‑Up Match (promotional)
 - Finservly may match a percentage of your round‑ups up to a cap. Great for kick‑starting habits.

- Finish‑Line Bonus
 - Hit a savings goal by the target date to earn a small one‑time bonus or fee credit. Bigger goals may require a minimum average balance.

- Learn & Earn
 - Complete brief in‑app modules (e.g., emergency funds, compound interest) to earn badges and occasional rewards (such as fee credits or sweep multipliers).

- Leftover Sweep
 - Set a monthly “sweep day” to move any checking balance above Safe‑to‑Spend into savings automatically.

- Financial Health Score
 - Personalised score with nudges (increase auto‑save, reduce idle cash, build a 3‑month buffer). Improving your score may unlock limited‑time boosts.

How interest, fees, and limits work

Interest

 - Flexible accounts: variable rates; interest typically accrues daily and is paid monthly.
 - Lock Saver: fixed rate for the selected term; interest treatment if you withdraw early is shown before you confirm.

Fees

 - Finservly aims for transparent pricing. Some features (e.g., Lock Saver early exit) may carry a fee or rate adjustment. The app shows fees before you proceed.

Limits and Availability

 - Product availability, limits, and rates vary by country and may change. See the app for your region’s current details.

FAQs

- Does a withdrawal reset my Save Streak?
 - Yes. Any withdrawal from the streaked account will break the streak. You can restart immediately.

- Can I use Round‑Ups with Goal Buckets?
 - Yes. Choose a target bucket for your Round‑Ups or let them flow to Everyday Saver, then move them to a bucket later.

- What happens at Lock Saver maturity?
 - You can withdraw, roll into a new term, or move to a flexible saver. We’ll notify you ahead of time.

- Are my funds protected?
 - Funds are held with regulated partner institutions. Deposit protection and coverage limits depend on your jurisdiction. Check the app for the specific protections applicable to you.

- Can I open multiple Goal Buckets?
 - Yes. You can create and rename as many as you need (subject to reasonable limits).

How to open an account (in the app)

1. Tap Save → Open a savings account.
2. Choose account type (Everyday, Goal Bucket, Lock Saver, or Teen/Starter).
3. Set your target (optional for Everyday; recommended for Buckets).
4. Configure automation (Payday Auto‑Save, weekly top‑ups, Round‑Ups).
5. Review rates/terms and confirm.

Good starting recipes

Emergency Fund (Everyday Saver)

 - Goal: 3 months of essential expenses
 - Automations: 10% Payday Auto‑Save + Leftover Sweep monthly
 - Guard: 24‑hour Withdrawal guard

Travel Bucket + Round‑Ups

 - Round‑Ups: On, instant sweep
 - Auto‑deposit: Weekly small amount
 - Boost: Aim for a 3‑month streak for the temporary bonus

Lock Ladder for Planned Purchases

 - Open three Lock Savers (3/6/12 months) with equal amounts. Re‑roll each on maturity until you need the funds.

Need help?

- If you’re unsure which option fits your goals, contact Support from the app. We can’t give personalised financial advice, but we’ll explain features so you can decide.

Important

- Rates, promotions, and eligibility can change. Always review the latest terms in the app before opening or funding an account.