Savings Jars

Savings from DailyPay is a way for you to save your earnings and to achieve your financial goals by building a savings habit. Savings are organized into ‘jars’ for specific purposes or goals. Think of jars like cash envelopes - you might have some savings in one jar for a vacation for example, and another jar with a few dollars for a rainy day. When you open a Savings jar, you’ll set up what it’s for and how much you’d like to save (a goal).

Anyone with a DailyPay Visa^® Prepaid Card can open Savings jars. Your savings are linked to your card, so you will add money to your DailyPay Card, then transfer from your card into your jars. When you withdraw your savings, the money goes into your DailyPay Card account. Savings jars are managed entirely in the DailyPay app.

If you don’t have a DailyPay Card but want to open Savings jars, you’ll need to open a DailyPay Card account first.

You can have up to 10 active Savings jars at a time, and you can save up to a maximum amount of $25,000 in each jar.

Add money to Savings jars

You will be asked if you’d like to add money to a new jar when you open it - follow the prompts to start saving right away. To add money once your jar is open:

1 Open the DailyPay app

2 Tap the Wellbeing tab. If you have Savings jars already, you’ll see them listed here under the “Savings” header.

3 Tap the jar you want to add money to.

4 Tap Add money to start saving right away.

5 Follow the prompts to transfer money from your DailyPay Card to your Savings jar

Withdraw money from Savings jars

Anything you withdraw from a Savings jar will deposit to your DailyPay Card instantly. You can only withdraw from one jar at a time. To withdraw money from your Savings jar:

1 Open the DailyPay app.

2 Tap the Wellbeing tab. If you have Savings jars already, you’ll see them listed here under the “Savings” header.

3 Tap the jar you want to withdraw money from.

4 Tap Withdraw money.

5 Follow the prompts to transfer money from your Savings jar to your DailyPay Card.

Make changes to Savings jars

You can update your Savings jar names and goals by editing them.

1 Open the DailyPay app

2 From the Wellbeing tab, tap Savings at the top of the page

3 From the list of your Savings jars, tap the one you want to update

4 Tap the dotted menu … at the top right of the page

5 Tap Edit jar

6 Follow the prompts to make your updates

To delete a jar, follow these steps but select Delete jar instead of Edit. When you delete a jar, all the money in it will be transferred to your DailyPay Card instantly.

See your Savings activity and statements

You can get information about all the money going in and out of your Savings jars over the past 12 months by looking at the Activity page.

1 Open the DailyPay app

2 From the Wellbeing tab, tap Savings at the top of the page

3 From the list of your Savings jars, tap the one you want to view

If you’d like to see transactions from more than a year ago, you can access your statement by tapping See your statements from the Activity page. 

FAQ

Can I save my available earnings?

Yes! Savings jars are linked to your DailyPay Card, with all money going in and out of your jars from your DailyPay Card account. However, you can still save your available earnings by transferring them to your DailyPay Card, then moving money from your DailyPay Card to the Savings jar.

What happens when I reach my goal?

If you’ve hit your Savings goal, congratulations! What would you like to do next?

• Just keep saving. See how much you can put away! You can save up to $25,000 per Savings jar.
• Edit your goal to make it a little higher if you’d like to save a bit more.
• Withdraw your money to use for the purpose you saved for.

You can instantly transfer the money in your jar to your DailyPay Card or another jar.

The DailyPay Visa^® Prepaid Card is issued by The Bancorp Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and can be used everywhere Visa debit cards are accepted.

Your funds are FDIC insured through The Bancorp Bank, N.A., Member FDIC. DailyPay is not FDIC-insured. Deposit insurance coverage only protects against failure of The Bancorp Bank, N.A.