How to set up recurring deposits

It can be a lot easier to put aside money to invest when you don’t have to think about it. The Plynk app simplifies the process with recurring deposits.

Growing your investments

The more you’re able invest, the more opportunity your investments have to grow. One way to help accomplish this goal is to deposit a small portion of your monthly budget (whatever you’re comfortable with!) into an investing account.

Setting up recurring deposits to your brokerage account

In just a few quick steps you can activate recurring deposits from your linked bank account to your brokerage account in the Plynk app. Just tap the "Deposit" button from the home screen, or from your Profile page you can select "Money movement" and then "Deposit funds" or "Add recurring." You then choose the amount, frequency, and date you’d like to make your first deposit.

Did you know?

Even if you don’t do anything with the money you deposit, it may earn more interest with the Plynk app than it would in a regular checking or savings account.

Next steps to consider

Make a recurring deposit in the app.

Now that you’ve enabled regular deposits to your account, why not set up recurring investments as well? When you buy stocks or funds with the Plynk app, you have the choice between making one-time purchases or scheduling them for a regular cadence.

Learn more about the strategy of dollar-cost averaging and automatic investing.