Prospa' s Automation feature allows you to automate fund transfers within your Prospa accounts and other accounts, reducing manual effort. The feature includes two main types of automation:
Auto Rule and Recurring Payment
1. Auto Rule: This automation type has two variations:
Amount Rule: This rule allows you to set a condition based on the amount of funds in your account. For example, you can set a rule to automatically transfer a certain amount to a beneficiary account when your account balance exceeds or drops below a specific value.
Split Rule: This rule enables you to automatically split incoming funds by a specified percentage. For instance, you can set a rule to automatically transfer 30% of every incoming payment to a savings account.
2. Recurring Payment: This automation type allows you to schedule recurring transfers to beneficiaries. You can set the start date, frequency (daily, weekly, monthly, etc.), and end conditions (end date or number of payments) for these recurring payments.