Fund a savings account

There are several ways to fund a savings account, each suited to different needs, from regular automated deposits to single manual transfers. The following provides an overview of the available options for funding a savings account:

• Automated recurring transfers

• Top up the savings account

• Custom booking to savings account

To find out more about each option, refer to the particular chapter below.

Automated recurring transfers

The primary method for funding a savings account is by setting up a recurring deposit schedule (e.g. monthly on a specific date). This automates the transfer of a fixed amount from the linked currency account to the savings account at the specified frequency.

This operation can only be completed through internal API requests and is not supported in the Tuum BackOffice system.

Top up the savings account

The top-up function allows for flexible transfers from the linked currency account to the savings account. It can be used to make the initial deposit during account creation, as well as any subsequent manual contributions as needed.

To top up the savings account, or add funds, follow these steps:

1. Search for the account to which you want to top up savings.

2. Click the account number to view its details.

3. The Account details page opens.

4. Click Top up savings at the bottom left of the page.

1. The Top up savings account modal opens.

2. Enter the top-up amount and click Top up.

You can also transfer funds from another financial institution via a standard bank transfer. Use the savings account number as the recipient and the account holder's name as the beneficiary. Other details may vary depending on the payment context.

Custom booking to savings account

It is also possible to make a manual custom booking into the savings account. However, this method is considered an exception and should only be used when necessary. For detailed instructions, refer to Custom bookings.