Your Wallet holds cash to help power your Formulas.
Formulas is a free feature that helps you seize the moment and automatically build towards your goals by catching opportunities when the time is right.
- Learn more about Formulas: What are Formulas?
- Check out or create Formulas: https://wisebanyan.com/dashboard/formulas/create
Similar to your milestones, the Wallet is connected to your linked bank account. You can do one-time deposits or setup an auto-deposit from your linked bank account into your Wallet. The funds then stay in cash while they’re in your Wallet and are used for formula transfers into your milestones.
You can also withdraw funds from your Wallet to your linked bank account or initiate one-time transfers from your Wallet into your other milestones at any time.
We use the Wallet to power your formulas since it provides some great benefits:
- Your formulas can work faster. Otherwise waiting on bank account transfers to complete can be no fun.
- We provide predictable deposits from your bank account. Setup an auto-deposit from your bank account to your Wallet to keep it well-funded and ready to go. Regardless of when your formulas work, they use your Wallet so that you don’t have to worry about bank transfers.
- Protect against overdrafts. Rather than using your bank account (which can have overdraft fees) to power Formulas, we use your Wallet to fund your formula transfers. Even better? When your Wallet balance is low, we also let you know.
- We minimize the number of bank account transfer you need to do. Less is more since we know some banks limit the number of transfers you’re allowed each month.