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:

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 Section

Click on 'Auto transfers', which appears as the rightmost option in the horizontal navigation menu. This section displays all existing auto transfer rules and allows you to create new ones.

Step 3: Create a New Rule

Click on 'Create rule' to begin configuring your automatic top-up settings.

Step 4: Set Balance Threshold

In the first field, 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 5: Define Target Balance

In the second field, 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 6: 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 to bring your balance up to your target, 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

Balance Monitoring

The auto transfer feature uses a balance calculation method that accounts for your Credit balance before it's paid off at the end of the day. This ensures that auto transfers are initiated even when you still have outstanding credit, providing more proactive account funding.

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, though the document doesn't specify limits on the number of rules you can create.

Manual ACH Debit Pulls

Slash does not support manual ACH debit pulls from external bank accounts. While you can use auto transfer rules to debit your own connected bank account for top-ups, Slash does not support collecting payments from third-party bank accounts.

Need More Help?

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