What is an initial deposit?

When you first set up a goal we ask you if you want to add an initial deposit. This is a voluntary one-off lump sum (of any amount) that can help you kickstart a goal.

You have 14 calendar days to put this lump sum towards your goal. Any money you put in during those 14 days will be counted as part of your initial deposit. For example, during the 14 days you could make a deposit of $1,000 as well as begin a regular contribution of $200. Therefore, your total initial deposit amount would be $1,200.

You’re under no obligation to make this payment, and you won’t incur any fees or other charges if you change your mind.