How does direct deposit to a savings account work?
My work requires direct deposit which I have going to my checking account. I want to open up a savings account, but I’m really bad with money so I need to set up a direct deposit into the savings account as well bc I won’t do it on my own. Do I have to set it up through my work or through my bank to have part of my pay checks go to a savings account?
So I assume you have already setup a direct deposit to your checking account, correct?
And you want to open a savings account and have money automatically deposit into there? So go to your bank website and you can setup an automatic transfer from your checking to your savings account. If you need help, contact customer service.
Just remember, when you pay your bills, make sure you have enough money in your checking account. I think there’s a federal law where you are only allowed 6 transfers per month between bank accounts.