Smart Transfers: Your new way to manage money automatically


Now you can be a bigger boss of your money.

In our never-ending quest to help you grow your wealth, we’re excited to tell you about new, smarter automation now available on M1: Smart Transfers.

This new capability lets you put every available dollar to work how you want by setting threshold-based rules in your various M1 accounts.

Up until now, you could move money on a one-time basis or based on a calendar schedule (e.g. transfer $200 from Spend to Invest bi-weekly). And while automating your money on a schedule can be helpful for your financial strategy, Smart Transfers takes it to a new level.

Now, you can also set up transfers from Spend Plus checking to Invest (or vice versa) based on a cash amount threshold that you set. This lets you put every excess dollar immediately to work the way you want, no matter when that threshold is met. Smart Transfers are exclusively available to M1 Plus members.

So why might you want to use a Smart Transfer? Let’s look at a couple of examples:


Spend Plus Checking → Invest

Let’s say you want to build up to $1,000 in your M1 Spend Plus checking account to cover your emergency fund and your everyday expenses. Plus, you like the 1% APY* and the 1% cash back on purchases using the M1 Spend VISA® debit card. Who doesn’t?

But you don’t need more than $1,000 in your checking account, and you’d rather contribute the rest to your Invest account and get maximum exposure to the market. Up to now, you’d need to monitor your account and do one-time transfers anytime you notice you’re over the $1,000 in Spend Plus checking. It’s not a huge amount of work, but you know you wouldn’t do this as diligently as you’d like.

This is where Smart Transfers comes in. In a matter of seconds, you can set up a rule that automatically directs any excess cash above $1,000 in Spend Plus checking to Invest. You’ll get the benefit of every excess dollar being put into the market when it becomes available without doing anything. This rule will always be on, and it will continue doing its job until you stop or change it.

If your Spend account drops below $1,000 (and we hope it never does), the Spend Plus checking to Invest Smart Transfer will stop temporarily until you’re over that threshold again, and then the rule will automatically restart.



Invest → Spend Plus Checking

Let’s look at another example. You want to maximize your return on idle cash, and you love getting 1% APY* in your Spend Plus checking account. When your Invest account builds up idle cash from dividends or proceeds from sell orders, you like to move that cash from Invest to Spend Plus checking with a one-time transfer. But there are times when you let that idle cash sit, because life and other things get in the way. And this drives you batty.

Enter Smart Transfers. Now, you can set up a rule that directs any excess cash in Invest to Spend Plus checking. This will happen automatically, and every single dollar will be earning the high APY in Spend Plus checking as soon as it becomes available. And the best thing is, you won’t have to remember to do it.

Rest easy our cash maximizing friend.



What comes next?

We’re not done with Smart Transfers just yet.

Keep an eye out for even smarter Smart Transfers coming soon. At the risk of giving away a spoiler, we’ll give you a hint: imagine stringing together a chain of Smart Transfers. We can’t wait to show you this in a month or so.

Until then, stay invested.

Some caveats:

  1. The new Smart Transfer capability is available only from M1 and exclusively to M1 Plus members.
  2. You can only set up Smart Transfers to and from a Spend Plus checking account and a taxable Invest account (for now).


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