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We’re there for you from start to finish of your money journey. In this case, we’re placing an emphasis on the start. We know this can be tricky, so we found the answers to some of the questions we’ve been asked the most and housed them all in one place for you.
How does our Savings product work?
Savings learns your spending habits and finds the right amounts to put toward your savings goals. First you link your bank account, then we use information like your account balance, recent spending, and upcoming bills to find what you can spare. You can also use our app to bank, budget, invest, and manage your loan.
How much does our app cost?
After your 6-month free trial, your subscription for our saving, budgeting, and investing products will cost $5 a month. Don’t worry, we’ll give you a heads up before your first charge. For Oportun members who use our app simply to manage their loan, there is no subscription fee.
How do you contact us?
Get in touch with our Support Team with questions and concerns, or submit a complaint by sending us a message or emailing [email protected]. We’re here to help you M-F from 9am – 5pm PST with some support on weekends and holidays.
Is your money FDIC-insured?
You know it. Your spend and bills accounts are held at Pathward, N.A. and insured by FDIC through Pathward as well. Your savings funds are held in custodial accounts at several of our FDIC insured partner banks and are also FDIC insured through each of the partner banks. FDIC insurance protects your funds against failure of these banks and all regular FDIC insurance limitations apply.
Keep in mind that our Investing and Retirement accounts are not covered by FDIC insurance. These accounts are protected by SIPC.
How do we know when to save?
We take a few things into account, namely your spending habits, upcoming bills, and the end dates on your savings goals. Then we’ll automatically pull from what you have left, so you can save without thinking about it.
What about withdrawing money? How long do withdrawals take?
We offer Instant withdrawals back to your bank account in minutes for an additional $.99. Standard withdrawals are available within 3-5 business days, but many banks process them faster than that. For more details on how long withdrawals take depending on your bank and when you initiate them, check out this link
How do we know when to invest?
Just like when we save for you, our Investing product will account for your expenses and automatically put smart amounts you have available into the market.
How do you add money to spending?
If you have a Direct account set up, there are a few different ways. Money can come in via direct deposit, a manual transfer from a linked bank, or Smart Deposits. Smart Deposits are automatic transfers from your linked bank that happen each week based on upcoming Bills and Savings deadlines.
Didn’t see your question here? Please feel free to reach out to support at [email protected] and we’ll be happy to help you out. Or check out our Help Center for more commonly asked questions.