Best Apps & Bank Accounts for Automating Your Finances

[credit8502020]

Hi All, 

I want to automate my finances. For example, when I deposit a check I want to be able to quickly set up automation to split that check up into different checking/savings accounts. 

If you automate your finances, please chime in about which bank accounts you've found to be the most useful and your process, etc. 

Thank you! 

[Anonymous]

Others may have something more elaborate, but using processes available with just about any bank/CU/lender and my employer's payroll system works well for my needs.  Example:

ADP 3-way splits my paycheck into various accounts, so the core of my savings/checking distribution is done immediately.

Bills and investment accounts automaticallly pull out of checking, using their autopay/autotransfer features.

Month end, sweep remainder from checking to HYSA or throw more $ at AAPL, TSLA, AMZN, whatever (this part is manual, but I enjoy it)

Wash, rinse, repeat.

Straightforward and easy.

[MrT_521]

Depending on your employer's payroll processor, you might be able to split your paycheck. One employer I had in the past used ADP, and we could do that, although I didn't utilize it.

Our finances now are pretty simple. I am an expat, so most of our money goes through my Schwab checking account or credit cards. All of our credit cards are set up for autopay to pay the statement balance on the due date. They are paid from another checking account, so I need to manually transfer between Schwab and that one as needed. Other than that, it's mostly hands off.

[credit8502020]

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@Anonymous wrote:

Others may have something more elaborate, but using processes available with just about any bank/CU/lender and my employer's payroll system works well for my needs.  Example:

ADP 3-way splits my paycheck into various accounts, so the core of my savings/checking distribution is done immediately.

Bills and investment accounts automaticallly pull out of checking, using their autopay/autotransfer features.

Month end, sweep remainder from checking to HYSA or throw more $ at AAPL, TSLA, AMZN, whatever (this part is manual, but I enjoy it)

Wash, rinse, repeat.

Straightforward and easy.

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@Anonymous 

Thank you! I'm ideally looking for a system that will work with wires or just regular deposits, but not from a payroll system. I'm in the real estate industry and my income comes/will come from deposits from different places, but not like a traditional deposit. I want to be able to do a split, similar to what you mentioned through ADP,  easily within the bank's system after I deposit a check. Thank you for sharing your process.

[credit8502020]

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@MrT_521 wrote:

Depending on your employer's payroll processor, you might be able to split your paycheck. One employer I had in the past used ADP, and we could do that, although I didn't utilize it.

Our finances now are pretty simple. I am an expat, so most of our money goes through my Schwab checking account or credit cards. All of our credit cards are set up for autopay to pay the statement balance on the due date. They are paid from another checking account, so I need to manually transfer between Schwab and that one as needed. Other than that, it's mostly hands off.

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@MrT_521 Ok. Thank you for your feedback. What do you like most about your Schwab account? 

[MrT_521]

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@credit8502020 wrote:

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@MrT_521 Ok. Thank you for your feedback. What do you like most about your Schwab account? 

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The ATM fee reimbursements. 

[credit8502020]

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@MrT_521 wrote:

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@credit8502020 wrote:

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@MrT_521 Ok. Thank you for your feedback. What do you like most about your Schwab account? 

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The ATM fee reimbursements. 

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@MrT_521 Ok. Thank you!