With automated savings, we'll only withdraw cash in excess of the maximum balance you set for your checking account or Wealthfront Cash Account.
- We'll email you when a transfer is scheduled, and you'll have 24 hours to edit or cancel it.
- We'll cancel the transfer if you don't exceed your maximum balance by at least $100.
- You’re in control of your settings and can increase or decrease your maximum balance at any time.
Can an overdraft still happen?
Yes, this can happen if your automated savings plan uses an external checking account, and you have an outgoing withdrawal from that account to another external account just before we transfer funds to Wealthfront. If you’re using automated savings with an external account, there could be up to a 24-hour delay between when your external account balance changes and when we detect this change.
To avoid this, we suggest choosing a maximum balance that’s more than the amount you spend or withdraw each month. This helps you avoid an overdraft if you have an outgoing withdrawal from your external checking account to another external account just before we transfer funds to Wealthfront.
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