Automatic Transfers to Vaults

Currently, it is only possible to set up an automatic transfer either daily or weekly or monthly. I get paid every month on 1st and 15th. I need to set up an automatic transfer twice a month. Currently it is not possible to do so.
Not sure how difficult to add the following options:

  1. Automatic transfers on any particular day or days of the month
  2. Automatic % transfer, instead of a fixed amount
  3. Allow to round up to more than one vault. Currently, it is restricted to only only vault
  4. It will be great if they can integrate with IFTTT rules
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Hey !

These are slight modifications but personally I wouldn’t use them, do you think they are really necessary for many users ?

I think there’s already a lot of functionality related to the vaults and sometimes too many features it gets complicated but of course if Revolut adds it it will only be beneficial.

Hoping that my answer was a good advice for your idea.
Have a nice day
Theo

Hi Theo,
These automatic transfers will make more customer use it regularly. Once you set it, you can forget it. Revolut will do the rest. Right now, I am not using vaults much. Because, I forget to transfer or use the funds for some other expenses. Instead, I would like to see Revolut automatically transferring the funds as soon as I receive my paycheck.
I don’t think it is too difficult for Revolut to add these features when Revolut already has set up recurring transfers. You are going to add just a couple of more conditions.

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Yep ! No problem ! :+1:t4:

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I think that’s the way to go. The system should detect regular income which isn’t always credited at the same date and then should execute a couple of predefined transactions, whether it’s a savings/investing plan or allocating money for envelope budgeting in pockets.

Another interesting approach would be to look at what’s left at the end of an „income cycle“. The system learns that you’ve spent less than you’ve budgeted and puts what’s left from your monthly income aside.

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That’s a great idea. “Out of sight, out of mind” principle will help us save more without trying much. Revolut has the capability of building this feature. This will benefit Revlolut a lot as more and more people will keep their savings with Revolut instead of moving it out or spending it immediately.

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A natural extension to this idea would be to allow automatic routing of payments directly to the vaults, eg with a specific payment reference.
For example, if a payment is received, with reference vault/myvalaultname (or @myvaultname) then the payment would be directly credited to the vault (instead of mucking around with automatic transfers etc). If the vault name doesnt exist, then the instruction is stimply ignored and everything continues as normal.

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Yes it would be great to have this option

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