Whether you're a newbie or a seasoned investor, if you've ever wondered how you can get your Squirrel Money investment working harder and smarter, read on.
Just a reminder that we can’t offer financial advice on how you should structure your investments, however we can provide some facts on how the platform works:
Auto-bidding is designed to automatically re-invest funds you’ve received into your on-call account, to get your money working as hard as possible.
Auto-bidding saves you the hassle of creating regular investment orders, essentially creating it for you once your on-call account reaches the amount and term you specify. As mentioned, this is designed to work with repayments coming back into your on-call account.
Setting up an auto-bid:
When you go through the steps of creating an investment order, you will have the option to create a one-off order or create an auto-bid.
Auto-bid will take the available funds from your on-call account and place an automatic order that runs once a day each morning, provided you have sufficient funds available.
Things to note:
Auto-withdrawal allows you to set up an automatic and regular withdrawal of funds from your on-call account to your registered bank account. Essentially setting up an income stream from your Squirrel Money investments.
Setting up an auto-withdrawal:
Follow the steps for making a withdrawal from your on-call account. You’ll notice next to the amount you wish to withdraw, there’s a drop-down box called ‘Set frequency’ with options for either weekly, fortnightly, or monthly.
Select the amount you wish to withdraw on a regular basis and the frequency. This will then automatically withdraw the same amount at these intervals from the date you make the initial withdrawal.
Things to note: