This FAQ applies to Flourish Cash.
Flourish SmartBalance is an automated rebalancing tool designed to help you manage your cash more efficiently. It saves you time and helps you earn a competitive rate by automatically transferring funds between your Flourish Cash account and an instantly linked checking account.
SmartBalance automatically checks the balance of your instantly linked checking account every two weeks to determine whether it is above or below your Target Balance. Instantly linked checking accounts are those linked by entering your bank username and password (not via the one-cent verification process).
You can learn more about linking accounts via this article: How can I link my bank accounts to my Flourish Cash Account?
Seamless Automation
1. Define Your Target
Set a Target Balance for your linked checking account — ideally, the amount you’d like to keep on hand to comfortably cover your regular monthly expenses.
To learn more about how the Target Balance works, please click here.
.2. Set It and Forget It
Every two weeks, SmartBalance reviews your checking account balance and compares it to your Target Balance:
- Excess funds transferred out of your checking account: If your checking account balance is above the effective Target Balance at the end of the two-week period, SmartBalance will automatically transfer the excess amount from your checking account into your Flourish Cash account to help you earn a competitive rate.
- Deficit funds transferred into your checking account: If your checking account balance is below the effective Target Balance, SmartBalance will automatically transfer the difference from Flourish Cash into your checking account.
Additional Details
Please note the following:
- You are responsible for ensuring that your checking account maintains sufficient funds. Flourish Cash does not provide overdraft protection.
- The largest deposit SmartBalance will schedule is $5MM, and the largest withdrawal SmartBalance will schedule is $1MM. SmartBalance will not schedule transfers that exceed these limits, regardless of your external account balance.
- SmartBalance is only available for checking accounts instantly linked using your bank username and password.
- SmartBalance is not available for external savings accounts. Some institutions may limit savings accounts to six withdrawals per month (even if no longer required by regulation). Because we cannot track withdrawals made directly from an external savings account, SmartBalance could inadvertently cause you to exceed that limit. However, you can always manually initiate transfers to or from your linked savings account at any time.
The following articles may also be helpful:
What is the SmartBalance schedule?