In order to set up a new recurring deposit, you’ll need to have a bank account linked via Plaid or micro-deposits, as we do not currently support recurring deposits from debit cards.
You can set up recurring deposits right from the mobile app. Here’s how to get that started:
Select the menu icon (≡) in the top left corner
Select the Deposit button
Select your funding source
Select the destination for the deposit
Select the frequency for the deposit
Enter the deposit amount
Select Next and Confirm
You can make as many recurring deposits as you like, and you can manage them right in the app.
You can also set up recurring deposits on the Public website. Here’s how to get that started:
Select the menu icon (≡) in the top right corner
Select Deposit on the dropdown menu
Enter the deposit amount
Select your funding source
Select the destination for the deposit
Select the frequency for the deposit
Select Next and Confirm
When initiating a recurring deposit, the first available date the deposit will go into effect is the following business day. If you would like to initiate a deposit the same day, you can use a one-time deposit instead.
Follow the instructions below to manage your recurring deposit once it is set-up:
Select the menu icon (≡) in the top left corner
Select Settings
Select Transfers
Select the recurring deposit that you wish to pause or delete
To pause, tap the on/off toggle at the bottom
To delete the recurring deposit, tap the three dots in the top right-hand corner and select Cancel deposits
What is the difference between a recurring deposit and an investment plan?
A recurring deposit is solely a deposit of cash to a specific account type. You decide how much and how often you want to fund your Public accounts and choose between daily, weekly, biweekly, or monthly frequencies.
Please note that a recurring deposit is not needed in order to establish an investment plan, as that is elected when setting up your desired investment plan.
An investment plan is a way to automate funding towards your investing strategy by building your own unique plan by choosing up to 20 different assets, including stocks, ETFs, and cryptocurrency. Additional information on creating an investment plan can be found here.
For any questions regarding setting up recurring deposits, please contact Member Support via in-app chat or email at support@public.com.