Goals

Q: How do I spend money from a Goal?

IMPORTANT: Money cannot be spent directly from a Goal. To spend money from a Goal, the money must first be transferred back to your main account Available Balance. There are no limits on the number of times you can transfer money from Goals to your Available Balance and there are no fees when you transfer money. To transfer money from a Goal back to your main account, follow these steps: Log into your Scarlet account. Go to Money In and select Transfer Money to main account. Or select the Goal from which you’d like to transfer money from the Home screen and select Transfer Out. When you get to the ‘Transfer money into main account’ screen, select the Goal from which you’d like to transfer money from the list. Enter the amount you’d like to transfer to your main account and select Transfer. Your money will be added to your main account Available Balance right away. You will see a confirmation that the transfer has been completed, along with a transaction ID number for reference.

Question 1

What are Goals?

Accepted Answer

As a Scarlet accountholder, you may set up Goals, which can be used to put money towards a specific purpose ─ whether you are setting money aside for a family vacation, a large purchase, or even for a rainy day.

With Goals, you can transfer money from your main account Available Balance into the Goals. You can have up to six (6) Goals. When you're ready to spend the funds in a Goal, simply transfer the funds back into your Available Balance. Moving funds in and out is simple and can be done anytime you want.

Question 2

How do I set up Goals?

Accepted Answer

It’s easy to get started with Goals! To create a new Goal, simply follow the steps below. Remember you can have up to six (6) Goals.

Log into your Scarlet account.
On the Home screen, select Add Goal.
Enter the name of your Goal. You can also enter how much you want to set aside and a due date for your Goal if you wish.
Select Save new Goal to create your new goal.
Next, select Transfer In to add money to your Goal from your main account. If you’d like to add money later, go to Home or Logout.

Question 3

How do I add money to a Goal?

Accepted Answer

Funds can only be added to the goals by transferring funds from the main account available balance. There are no limits on the number of times you can transfer funds from your available balance into the goals and there are no fees when you transfer funds.

Follow these steps to add funds to a Goal:

Log into your Scarlet account.
Go to Money Out and select Transfer out of main account. Or select the goal to which you’d like to add funds on the Home screen and select Transfer In.
When you get to the Transfer out of main account screen, select the goal you’d like to add funds to by selecting it from the list. Enter the amount you want to transfer from your main account to the selected goal and select Transfer.
Your funds will be transferred right away to your selected goal. You will see a confirmation that the transfer has been completed, along with a transaction ID number for reference.

Question 4

How do I spend money from a Goal?

Accepted Answer

IMPORTANT: Money cannot be spent directly from a Goal. To spend money from a Goal, the money must first be transferred back to your main account Available Balance. There are no limits on the number of times you can transfer money from Goals to your Available Balance and there are no fees when you transfer money.

To transfer money from a Goal back to your main account, follow these steps:

Log into your Scarlet account.
Go to Money In and select Transfer Money to main account. Or select the Goal from which you’d like to transfer money from the Home screen and select Transfer Out.
When you get to the ‘Transfer money into main account’ screen, select the Goal from which you’d like to transfer money from the list. Enter the amount you’d like to transfer to your main account and select Transfer.
Your money will be added to your main account Available Balance right away. You will see a confirmation that the transfer has been completed, along with a transaction ID number for reference.

Question 5

Are there fees for Goals?

Accepted Answer

No. There are no fees associated with Goals.

Question 6

Will I get a card with Goals?

Accepted Answer

No. We do not send a card with Goals. To spend money in a Goal, see the “How do I spend money from a Goal?” question above. Simply transfer money from the Goal back into your main account Available Balance to use the money you set aside in the Goal.

Question 7

How do I change or modify a Goal?

Accepted Answer

You can edit a Goal at any time. Select the Goal you’d like to change from the Home screen, then click or tap on ‘Edit Goal’ to change the Goal name, amount or due date. Select Update Goal to save your changes.

Remember when you are ready to spend the money set aside in a Goal you will need to transfer the money from the Goal back to your main account. See “How do I spend money from a Goal?” above for more information. Note, the Goal will not be removed or closed when the balance is $0. You can use the Goal again or edit it to use for another goal in the future.

Once you have six (6) Goals, you will not be able to create another new Goal. You can use ‘Edit Goal’ to rename a previous Goal for a new purpose.

Question 8

Can Subaccount Users create Goals?

Accepted Answer

No. Subaccount Users cannot create Goals.