How can I set up automatic transfers so a wallet never runs out of money?

With Soldo, you can set up automatic transfers to users and company wallets so they never run out of money. You can choose to periodically top up the balance or only top it up when the funds are running low.

Set up an automatic transfer for a User

1. Log in to the web app.
2. From the left-side menu, select Users.
3. Select the user.
4. Select the Transfer tab.

Choose from:

Periodic transfer

You can set a daily, weekly, or monthly schedule to automatically transfer funds:

• Daily: choose a specific time of day.
• Weekly: choose a particular day of the week.
• Monthly: choose a specific date.

You'll be able to choose whether you want to:

• Set balance to – Set the wallet balance to a specific amount. Funds will be added or removed automatically to match that balance.
• Send – Send a set amount to top up the wallet.
• Remove – Remove a set amount from the wallet.

Tip: You can combine multiple schedules with different rules. For example, you may choose a monthly rule to set the balance to £2000 and a weekly rule to transfer £200.

Low balance transfer

Automatically set the wallet balance to a specific amount when it drops below a specified threshold. For example, set the balance to £1000 when it drops below £100.

Note: Low balance transfers do not follow a periodic schedule. The wallet will be topped up to the specified amount every time it drops below the threshold. You can also set a cap on the total amount transferred (e.g. £1000 monthly).

5. Select the wallet (funding source) for the transfer. You'll be able to choose from your Main and Company wallets.
6. Select Save transfers.

Set up an automatic transfer for a Company wallet

1. Log in to the web app.
2. From the left-side menu, select Wallets > Company wallets.
3. Select the wallet.
4. Select the Transfer tab.

Choose from:

Periodic transfer

You can set a daily, weekly, or monthly schedule to automatically transfer funds:

• Daily: choose a specific time of day.
• Weekly: choose a particular day of the week.
• Monthly: choose a specific date.

You'll be able to choose whether you want to:

• Set balance to – Set the wallet balance to a specific amount. Funds will be added or removed automatically to match that balance.
• Send – Send a set amount to top up the wallet.
• Remove – Remove a set amount from the wallet.

Tip: You can combine multiple schedules with different rules. For example, you may choose a monthly rule to set the balance to £2000 and a weekly rule to transfer £200.

Low balance transfer

Automatically set the wallet balance to a specific amount when it drops below a specified threshold. For example, set the balance to £1000 when it drops below £100.

Note: Low balance transfers do not follow a periodic schedule. The wallet will be topped up to the specified amount every time it drops below the threshold. You can also set a cap on the total amount transferred (e.g. £1000 monthly).

5. Select the wallet (funding source) for the transfer. You'll be able to choose from your Main and Company wallets.
6. Select Save transfers.

Tip: You may want to apply the same automatic transfer settings to multiple wallets. Customers on selected plans can take advantage of auto-transfer presets to quickly apply the settings in bulk. For more information, refer to this article: Create auto-transfer presets.