Saving & Budgeting

How do I automatically transfer money to savings?

Be a better saver by making it automatic.

Key takeaways:

  • It’s easier to save when you automate the process.
  • Automatic transfers are free and easy to set up.
  • Use the Alaska USA app or online banking to set up a recurring transfer or a direct deposit distribution; you decide how much and how often.

 

Automating isn’t just for paying bills anymore. Reach your savings goals faster by setting up automatic transfers. Here’s how.

 

Automate your savings

1. Set realistic savings goals

Whether you’re looking to beat the ‘living paycheck-to-paycheck' cycle, or you need to save money for a new car, a home project, or a special vacation, setting up an automatic savings plan is a great way to reach your goals while letting Alaska USA online banking do all the work for you. You’ll be surprised how much you can save when you automate the process.

 

2. Start small, but then don’t quit

Find a set amount you can spare from every paycheck, say $10, $25, or even $50 dollars, depending on your goals, and set up an automatic scheduled transfer from your checking account to your savings account. If your goal is more time-sensitive, like an upcoming vacation, take your goal amount and divide it by the number of paychecks you’ll receive before your deadline. This will give you the amount you need to set for your automatic transfer.

 

3. Then sit back and watch your savings grow

Once you get used to having the money automatically set aside, it becomes easy to save. Think of it like this: every paycheck you receive has money automatically withheld for taxes or other benefits. You become used to the net amount that gets deposited into your checking account and probably don’t think about your withholdings until tax time. An automatic savings plan works the same way, allowing your savings to grow automatically.

 

Start today

The best part? Setting it up and trying it out doesn't cost a thing. Get started today using the Alaska USA app, online banking, or by calling the Member Service Center at 800-525-9094 any time, day or night. 

You have two easy ways to automate your savings.

 

1. Set up a direct deposit distribution

If you have your paycheck direct deposited into your Alaska USA Federal Credit Union account, you can automatically distribute your paycheck into multiple accounts. 

  1. Sign in to online banking from the Alaska USA website and click on the 'Account Profile' tab.
  2. Click 'Edit' next to the direct deposit you would like to distribute across different accounts.
  3. Choose the account ID and amount to be transferred from each direct deposit.
  4. Designate an account that is to receive the remainder of your direct deposit.

 

2. Set up a recurring transfer

You can use the Alaska USA app or online banking to set up a recurring transfer from one account to another. 

  1. Log in to your account or the app and click 'Transfer and Pay'
  2. Select your accounts, amount, frequency, and total number of transfers

 

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Not a member? Not a problem.

There’s never been a better time to become a member. Find a branch near you, call us at 800-525-9094, email us at memberservice@alaskausa.org, or open an account using our easy online process.

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