Savings Folders with Goals

[TheRealChipA]

Greetings,

I use savings and savings folders for a few purposes regularly — to save money for owner draws, to set aside for monthly sales taxes and a general slush fund.  

I’m getting ready to implement a new sick/PTO policy for my management staff and would like to create a folder that would do the following:

1. Set aside x% automatically each day
2. When the folder reaches some pre-defined dollar amount $x, the automatic savings would stop/pause
3. Then, when I transfer money out to cover sick days or PTO requests, those savings would then automatically restart until the goal is met again.

I know how to do #1 and #2, no problem.  But I can find nothing in the Square Help documents on Savings that indicates whether or not automatic savings would restart if the balance in the folder drops below the goal amount.  In an ideal world, I’d hope that it would.

Can someone on the Banking Team tell me whether or not this is the case?  If automatic savings would not restart, then should I submit a feature request, or is this something that is on the product roadmap?

Thank you!  I’m a True Believer in the power of Square Savings.

[Ellie_]

Hey there, @TheRealChipA,

Thank you for your patience on this! We are taking a look with our Square Savings team on this for you. We will follow up on this as soon as we hear back from them. 

[MayaHope]

Hey Chip, Maya from Square here! From one true believer to another, I first want to say that I love your question. It inspired a lot of great discussion with our team. 

You're right that #3 doesn't exist today. Savings folders were initially designed to help you meet specific goals. But the magic of Square Savings is that it puts your savings on autopilot, and you share a great use case to automatically keep saving for recurring purposes. We'd love to help make that possible for you. No promises on timing yet, but please know that we are paying attention!