How to Automatically Fund Your Slash Account

Overview

Auto transfer rules on Slash help ensure your account always maintains sufficient funding by automatically initiating deposits from a connected bank account when your balance falls below a specified threshold. This feature eliminates the need to manually monitor and fund your account balance.

Slash continuously monitors your account balance, which is calculated as your Cash Account Balance - Credit Balance.

When your balance drops below your defined threshold, the system either automatically initiates a deposit or sends you a notification to approve one, depending on your chosen authorization type. The deposit amount is calculated to bring your balance up to your specified target amount.

Initial ACH Debit Authorization

Before your first top-up can be processed, you must authorize your bank to allow Slash to collect ACH debits from your connected account. This is a one-time authorization process that grants Slash permission to initiate transfers. For detailed instructions on completing this authorization, refer to the guide 'Authorizing Slash for ACH Debits from Your Connected Bank Account'.

How to Set Up Auto Transfer Rules

Step 1: Access Entity Settings

Navigate to 'Entity Settings' located at the bottom left of the sidebar. This is where you manage account-level configurations and automated features.

Step 2: Open Auto Transfers

Click on 'Auto transfers' in the sidebar. This opens a dedicated panel where you can view all existing auto transfer rules, their status, and the history of transfers triggered by each rule.

Step 3: Create a New Rule

Click on 'Create rule' to begin configuring your automatic top-up settings. If you've already configured auto top-ups before, it will be displayed as 'Edit rule.'

Step 4: Name Your Rule

Give your rule a descriptive name (e.g., "Main account low-balance top-up" or "Payroll funding"). Naming your rules makes it easier to identify them when you have multiple rules, and helps you track which rule triggered a given transfer.

Step 5: Set Balance Threshold

Specify the balance threshold at which you'd like a deposit to be initiated. For example, if you want a deposit triggered when your balance reaches $100,000.00 or less, enter $100,000.00. This is the low-balance trigger point for your auto transfer.

Step 6: Define Target Balance

Specify the balance you'd like your account to have after your deposit fully posts. For example, if you want your balance to reach $150,000.00 after the deposit settles, enter $150,000.00. The system will automatically calculate the required deposit amount as the difference between your current balance and this target.

Step 7: Choose Authorization Type

Select your preferred authorization method:

• Automatic: These transfers trigger without manual confirmation. If your balance dips below your threshold and there are sufficient funds in your connected account, a deposit will be immediately initiated.
• Manual: These transfers send you a notification when your balance drops below the threshold. You can then log in to the dashboard and approve the suggested deposit before it is processed.

Additional Information

Managing Your Rules

Each rule has its own detail view in the auto transfers panel where you can:

• Edit the rule name, threshold, target balance, or authorization type at any time
• View the edit history to see when the rule was created and any changes made to it
• See all transfers triggered by this specific rule, making it easy to audit which rule initiated a given deposit

Processing Time Considerations

Since transfers take approximately 2 business days to post into your Slash account, carefully consider your spending patterns when setting your threshold and target balances. Set your threshold high enough to cover your expenses during the transfer processing period.

Multiple Rules

You can create multiple auto transfer rules with different thresholds and targets to handle various funding scenarios. For example, you might set a conservative low-balance rule for your main operating account and a separate rule for a payroll subaccount.

Need More Help?

If you need additional assistance with configuring automatic recurring top-ups or encounter an issue, contact Slash support via email (support@joinslash.com) or through your dashboard.