How do Recurring Deposits work?

What are Recurring Deposits?

Recurring Deposits allow you to deposit funds into your Fold Debit Card using a scheduled automatic routine.

 

How to set up a Scheduled Deposit

  1. Open the Fold app
  2. Tap the Deposit button near the top of the screen
  3. Tap Recurring
  4. Tap Schedule a recurring deposit

Set Frequency 

  1. Set up deposit frequency by tapping Weekly, Every two weeks, or Monthly
  2. Tap Continue

Set Amount 

  1. Input amount to be deposited on a recurring basis

Set Account

  1. Tap the account drop-down to choose which bank account to transfer funds from
  2. Tap Use this payment method

Confirm

  1. Tap Confirm recurring deposit to initiate the recurring transfer, beginning immediately

Success!

 

If these instructions do not match the options visible in your current version of the Fold app, please follow our standard troubleshooting steps to ensure you are getting the most up-to-date experience in the app!

 

How long do recurring deposits take to process?

Recurring deposits will initiate immediately, and require at least two business days to complete. Please schedule recurring deposits accordingly. 

 

Can I delete or pause recurring deposits? 

Yes. Recurring Deposits can be canceled or paused any time before the scheduled date on which they are set to initiate. 

 

How do I delete or pause a recurring deposit? 

  1. Open the Fold app
  2. Tap Deposit
  3. Tap Recurring Deposit
  4. Under My Recurring Deposits tap the deposit that you’d like to cancel or delete
  5. Tap either the Pause Transfers or Delete Deposit button, depending on your preference

 

If these instructions do not match the options visible in your current version of the Fold app, please follow our standard troubleshooting steps to ensure you are getting the most up-to-date experience in the app!

 

What limits are my deposits subject to? 

Deposits are limited to $15,000 per transfer, $15,000 per day, $40,000 per rolling 30-days, and a maximum balance of $30,000. Find out more about limits here.

Transfers times vary by bank. All transfers are subject to review and could be delayed or stopped at our discretion.

 

If you have any questions, or need further assistance, please email us at support@foldapp.com. 

Updated

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