To make your savings really smart, we move money from your bank account into your savings account when you can most afford it. It’s not the same amount each time, and it’s not on a set schedule. We analyze the following:
Linked bank account balance
Upcoming income (paychecks or predicted irregular income)
Upcoming bills
Recent spending
Any savings goals controls that you set (safe saving level, max daily save, goal end dates)
Every day that your bank is open, Oportun uses this information to try and find amounts that you can spare. That money is then distributed into your different savings goals.
The funds in savings goals are held at FDIC-insured banks for your benefit. All funds belonging to the same person at each bank are protected up to a balance of $250,000.