Which is better for transfers?

Good morning!

Is it better to transfer funds from a bank into Envel using envelope account info, i.e Cash, or deposit (income) account info? Or does it even matter?

Hey Adam,

The quickest way to get funds to your account is to do direct deposit! The second fastest way would be to push funds from your external account. Pulling funds (from the Envel app) is definitely the slowest.

Best,
Jacqui

Hi.

I am referring to specifically transferring funds and which envelope is better. Cash/any other envelope or income envelope? Or either? Basically, are transfers considered deposits meaning we should only use the income account info from push or paycheck?

Waiting on a reply to this question…

Hey Adam!

If you want your funds to be split by the AI, then we recommend the Income account (which you can see the info for by selecting Add funds, and then Paycheck.’

Otherwise, its really up to you! I’d say the most common is the Cash envelope, but if you are primarily using Envel to pay your Bills, then perhaps the Bills account. Also , remember that you are able to transfer between envelopes instantly!

Best,
Jacqui