Altruist allows you to set up recurring deposits so that money is automatically deposited into your investment account. This can be a great way to implement a long-term investing plan. #
In order to set up recurring deposits, you will need a connected bank account. If you need help connecting your bank account, you can ask us for help here!
On Desktop #
- Log in to Altruist
- Go to Add Funds in the top right hand corner
- Click on Deposit
- Select the account you’d like recurring deposits to transfer into
- Select the bank account you’d like your money to come from
- Fill out the rest of the deposit form with your desired frequency, start date, and end date. If you’d like the deposits to continue indefinitely, you can leave the end date blank, otherwise, make sure to fill it in.
Click next, give everything a look over, and if everything looks ok, click Submit!
On Mobile #
The set up process for a recurring deposit can also be completed on Altruist’s mobile app if you prefer. The process is extremely similar. Just follow the steps below:
- Open the Altruist mobile app and login
- Go to Transfers on the bottom menu bar
- Select Deposit
- Select the Altruist account you’d like to send recurring deposits into
- Choose which bank you’d like to use to fund the deposits
- Retirement accounts only: The app may ask you the reason for the contribution. For a recurring deposit, choose Regular.
- Select the frequency of your recurring deposit
- Next, choose the start date
- Set an end date if you’d like
- Lastly, enter the amount you’d like to deposit regularly
- Review all of your choices and select Submit
When will my money be invested? #
Funds sent to Altruist through recurring deposits are generally invested one trading day after receipt. It’s worth noting that money is technically removed from your account a day after the deposit has been initiated.