Individual, joint, business, and IRA account types with a linked ACH relationship can now make recurring deposits. Quickly schedule recurring deposits through our deposits page found here.
Available Transaction Frequencies
Weekly - A deposit is made every 7 days from the first transfer date
Bi-Weekly - A deposit is made every 14 days from the first transfer date
Monthly - A deposit is made each month on the same calendar day from the first transfer date
Monthly recurring deposits set on the 29th-31st of a month that does not have a 29th-31st, will default to the last calendar day of the month, including deposits set up on leap years (in February).
Recurring deposits set up on the weekend or a bank holiday will not process until the next business day.
If a deposit reverses (pulled back by the bank), future recurring deposits will be canceled and any pending recurring deposits will be canceled.
The option to receive instant buying power is not available for recurring deposits.
Unlinking an ACH relationship will cancel all future recurring deposits. Canceling an ACH relationship on the day of a scheduled recurring deposit will only cancel your future recurring deposits. Any already pending deposit(s) made that day will continue to process.
Notice for IRAs: Recurring deposits to an IRA code as a current year contribution. Recurring deposits are not eligible for IRA rollovers–only or prior year contributions, lump-sum rollovers are allowed.
Where can I create and manage recurring deposits?
Create a recurring deposit
Start by signing in to your account at manage.tastyworks.com. Navigate to My Money and select Deposits. To create a recurring deposit, go to the By ACH tab. Next, if you have more than one account, choose the account you wish to set up a recurring deposit for from the Current Account dropdown, then proceed to the transaction frequency dropdown. You can choose from a one-time, weekly, bi-weekly, and monthly transaction frequency. After selecting a frequency, you must select a ‘First transfer date.’ The first transfer date will determine the start date of the recurring deposits.
After selecting a transaction frequency, first transfer date, and the recurring deposit amount, click on 'Complete,’ and a confirmation page will appear. Double-check that all information is correct, and click 'SUBMIT.’ After submitting, a success prompt will appear. Additionally, the bottom right corner of the page will display a secondary confirmation.
Viewing Active, Pending, and Canceled Recurring Deposits
To view pending and canceled recurring deposits, click on 'View/Edit Recurring Deposits' on the top header of the deposits page. Each recurring transaction lists in the order of the date created. For additional details on the status of your recurring deposit, click on the small arrow under the 'Status' column to expand.
How to Cancel a Recurring Deposit
To cancel a recurring deposit, click on the red X on the far right of the deposit's row. Canceling a recurring deposit will only cancel future recurring deposits, it will not cancel any already pending deposits.
Completed Deposits and Weekend Timings
When clicking the drop-down for a specific recurring deposit you will see the history of all transactions related to that recurring deposit. The example below was taken on November 8th, after setting up a $300 daily recurring deposit with a first transfer date of November 4th. A deposit was scheduled and processed the previous week on Thursday and Friday (marked as 'Complete'). Scheduled recurring deposits over the weekend will not begin processing until the next business day (in this case today the 8th). Recurring deposits will not be processed on bank holidays, it will default to the following business day to begin processing.
An email will be sent out when a successful recurring deposit has been created, additionally, another email will be sent out when a pending recurring deposit has begun processing into an account.