We built the savings feature to be easy to manage and flexible enough to fit how our different users save.
Savings pockets and the different savings plans (Vault, Challenge, and Goal) each addressed an important use case, but the experience became fragmented, requiring customers to navigate different savings products depending on what they wanted to achieve.
Today, we’re bringing these experiences together under Pockets, a single, unified home for saving that makes it simpler to organise your money and choose the savings structure that best fits your needs.
One savings experience, four ways to save
Pockets brings together four distinct savings options:
Flexible Pockets
Flexible Pockets are designed for users who may need to access funds at any time.
Users can save, earn interest, and withdraw whenever they need to, making Flexible Pockets suitable for building accessible savings and keeping money set aside without restricting access.
Locked Pockets
Locked Pockets are designed for users who want to commit their savings for a defined period.
Users choose a maturity period and earn interest while their money remains locked. If they need to access their money before maturity, they can break the Pocket, but will lose the interest earned.
This provides a simple way to add structure and discipline to longer-term saving.
Goal Pockets
Are you saving for a major purchase, relocation, or a trip? Goal Pockets help users save with a specific purpose in mind.
Users can create a Pocket around what they want to achieve, contribute towards it, and earn interest as they save.
Challenge Pockets
Users can save with friends and join shared savings challenges, making it easier to stay motivated and accountable while working toward a common objective. The Challenge Pockets bring a social dimension to saving.
A new feature: Auto-route
We’re also introducing an auto-route feature, a new way to automatically organise inflow across your Pockets as part of the new Pockets experience,
Users can define what percentage of their inflows should go to each Pocket. For example, you could choose to automatically route: 50% to flexible, 30% to goal or 20% to locked and once set, the allocation happens automatically whenever eligible money comes in.
The auto-route is designed to reduce the friction between receiving money and putting it toward your savings plans.
Instead of manually deciding how much to move into each Pocket every time money comes in, customers can establish their preferred allocation in advance.
The principle is straightforward: make the saving decision once, then let the system help you follow through.
Building a more intentional savings experience
People don't save for just one reason. They save for emergencies, planned expenses, long-term priorities, personal goals, and sometimes alongside the people around them.
Our savings experience should reflect that reality without adding unnecessary complexity.
Pockets brings these different money habits into one place, giving users a consistent way to manage their finances while letting them structure their money however works best for them and with Auto-Route, they can take it a step further by automating how their money is organised.
Welcome to Pockets. One place to save. Different ways to save. More control over where your money goes.