Points, perks and rewards? Let us know

We would like to get your ideas on what kind of points, perks and rewards you want from your Envel account!

Let us know in the comments below :point_down:

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Cash back would be ideal, but I’m open to some sort of points system that could be redeemed for gift cards or similar. But keep it simple. We don’t need a huge catalog of crappy merchandise to choose from.

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That’s a great idea! I will share with our dev team. We really appreciate the feedback!

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Simple is the way to go. You can make it easy to remember like 5% at gas stations, 3% for popular stores, or restaurants 1% for all other categories
Unless it is really attractive, it is very difficult to convince the customers to use debit card when there are so many credit cards that offer fantastic reward points.

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I currently have Oxygen and chime and right now I love Envel because of the envelope system since I do this right now but with actual envelopes and makes it so much easier to have it digital as well.
it’s 7% for walmart food and coffee 1$ food delivery 5%
5% pharmacy 5% ride share and transportation
I’d would enjoy it more if I didn’t have to remember to log in and activate these cashback offers all the time cause I barely remember too but it’s great and I love it when I do.
so if this bank had the check deposit system that would be great as well since my job doesn’t offer direct deposit. Plus a cash back on certain purchases this would be my bank FOREVER other than that I love it so far. And please either free check deposit or a decent and fair amount. Oxygen charged me 30 bucks just to cash my paycheck of 600 crazy I know.

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Welcome to the Envel Community @loganx80 or Matthew :slight_smile: :tada:

Thank you for the feedback and ideas! Would you like points based on money spend or for example how well you do with your money. I.e. you take better care of your money and will result in discounts.

Also welcome to the Community Vanessa @Orange130412, great to have you :grin:

Great that you’re making use of the digital version. We just launched so we’re constantly trying to improve. Let us know what you would like!

Those numbers from Oxygen are crazy!! A check deposit system is in the making, but please be patient, it won’t be before 2021 :slight_smile:

Keep it coming!

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My initial thought was just points based upon money spent (to be competitive with other services), but I get where you are coming from with performance based rewards. I just think the rules for that might be difficult to come up with. Goals will vary for people and they may not appreciate only getting rewarded for something that they may not specifically care about. I use a PayPal debit card which gives me 1% back when running as credit and I also have a GreenDot debit card that gives me a similar amount for online purchases. I was thinking something more along those lines.

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I’d definitely like to see the cash back option with certain purchases, or even the point system for digital gift cards. Right now I’m trying Envel to see how well it works. I also have Chime, Current, and Dave. Chime is ok but definitely lacks customer support. Hope I’m satisfied here.

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I would love to see something like Swipe.io offers… https://www.swipe.io/cards

Set perks like taking care of monthly subscriptions up to a certain amount per month, plus a set cash back amount.

Obviously, this being a different product than a crypto account, you might have to limit it to maybe 1% straight cash back + three services that your users have. May I suggest Amazon Prime, Spotify, and Netflix? I think you’ll get A TON of millenials and GenZ-ers on board with that scheme.

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We are satisfied that you are here too @KingSlayer! Those are great ideas, I have made a note and will share them with the team.

We are definitely looking to build in more rewards and perks into the app, and these are great ideas. One of the only things I like about my big bank is that they let me customize my cash back feature! I can choose which category of spending I want cash back on, and I can also opt for special rewards at certain vendors.

If you have more ideas, keep them coming!

@bruin2014 spot on suggestions, I can’t think of a single Gen Z who doesn’t use these three services on a daily basis.

If you have more suggestions about perks and rewards, or anything for that matter, please keep them coming! Your feedback is a huge part of building envel, and we couldn’t do it without you!

@loganx80 great thinking, developing a rewards program is a huge priority for us right now! We are hoping to tie this into a referral program, so any more suggestions or feedback are hugely appreciated!

Cash back is an excellent idea that several other users have mentioned, and I will continue to push to incorporate it into the app! Thank you so much for your contribution to envel :slight_smile:

How about investment in stock or crypto? Acorns does this and Robinhood makes it easy to invest in stock and crypto.

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Hey there!

Yesterday our team discussed the possibility of partnering with a stock/investment app (I’ve been using Public and it’s incredibly user-friendly), and it’s definitely one of our long term goals, and something we can keep bringing up to the team!

The ultimate goal is for you all to be able to use Envel as your all-in-one Fintech app. Thank you for the note!

Cheers,
Jacqui from Envel

If you want to really shake things up and become a wealth-building tool, why not reward people for doing the things that help them build wealth?

Why not drop a small reward into the cash folder when someone successfully funds a goal envelope? You’re still encouraging spending (that results in Envel making money), but you’re encouraging planned spending rather than spontaneous spending and you’re incentivizing people to utilize some of the great features your app provides that distinguishes it from the competition.

Another, less direct incentive might be to give someone a small reward if they make it three months without withdrawing any money from their vault.

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HI Doug!

Those are really cool ideas and incentivize the type of behavior Envel wants to cultivate!

Thank you for this suggestion! You’re a pro!

Roundups are cool for sure. It would be neat to get an average of spending each month and then try to find areas that could improve. Like instead of paying $4.99 for a 5 hour energy shot you can buy a carton for $x.xx at this store. Yes I catch myself doing this a lot it’s disturbing. I’ll go spend like 10 bucks in something at the 711 cause it’s convenient instead I could be preparing for the month and buy in bulk or for a lower price. Just my 2 cents :slight_smile: .

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100% Branden! As people start using the app, we are able to pull out insights like this and make personalized suggestions - lots of cool, financial advice and support ahead!

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There another bank that gives you a list of merchants and you pick up to 5 that you can get cash back on. They let you change those merchants once a month. Options are everything from Spotify to target to Starbucks. I like the choice.

If you could gamify (I know I’m sure every start up is sick of hearing that term lol) saving and or spending wisely it could make it way more interesting and probably push the demo you’re looking for to sign up.

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