Saving Jars
Saving Jars allow QUBER users total control in customizing how they’d like to grow their savings. Set your Saving Rules however you’d like - you can save as much or as little as you’d like with a Saving Jar, and do it all at your own pace.
Saving Challenges
Saving Challenges require you to save a set amount of money on a fixed schedule.
You can stop a Challenge at any time if you need to, but if you successfully complete one, you’ll earn a cash reward!
→ Learn more about Saving Challenges
When you save money with QUBER, you’re sending your savings to and from The QUBER Vault, your emergency savings account. In Canada, we’re partnered with Alterna Savings (https://www.alterna.ca/) and in the United States, your Vault is with Lineage Bank (https://www.lineagebank.com/).
You can access your savings within a few days if you need them, but because they’re at an arm’s length when they’re in The Vault, you’ll be less tempted to spend that money impulsively.
The Vault: Key Points
The Vault is highly secure. All deposits in The Vault are insured. We use 256-bit encryption and other high-level security protocols to ensure that your personal information and your savings are completely safe.
When you save in The Vault, money moves to/from your Primary Bank Account. Your Primary Bank Account is the bank account you link to QUBER using your account numbers. It is the account money will move to The Vault from, and the account that will receive any cashouts you make.
There are two ways to save into The Vault: by starting a Saving Jar, or by joining a Saving Challenge. While Jars offer you total flexibility in how you’d like to save, Saving Challenges will offer you the chance to earn cash incentives or Save to Win ballots for completing them successfully.
Transfers to The Vault take 5 business days to completely reconcile. We rely on an EFT (electronic funds transfer) system to move money to and from The Vault. Money transfers usually reach The Vault within 1-2 business days from the time they’re deposited, but won’t reflect in your Vault until 5 business days have passed. This is because it can take up to 5 business days for us to receive error notifications after receiving a deposit from a user. Our system reconciles transactions after that 5 business day period passes, so don’t be nervous if you don’t see your balance reflected right away.
You can’t cashout a deposit until 5 business days have elapsed. You won’t be able to cashout money you’ve sent to The Vault until it’s been full reconciled within our system. If you have money in The Vault that was deposited any time before the last five business days, you are able to cash out that amount in its entirety. A cashout from The Vault usually takes 1-2 business days to reach your Primary Bank Account, but can take up to 5 business days on rare occasions.
Users must accumulate a minimum amount of money in a Saving Jar before a transfer to The Vault is triggered. Any amount of savings below $10 will remain in a pending state, ready to be transferred to The Vault when the user reaches a total of $10 or more.
The savings held in The Vault may or may not accrue or earn any interest, this is dependent on our banking partners. If interest is paid out, the APY % can be found in the app on the Rewards screen and in the Truth in Savings Disclosure (US). Both US and Canada users can earn cash incentives when successfully completing certain Saving Challenge or earn ballots to our exclusive Save to Win Sweepstakes for chances to win money monthly!
If QUBER tries to withdraw money from your bank account and there’s not enough there to cover what’s scheduled, you may incur an insufficient funds fee from your bank. An insufficient funds fee, or a NSF fee, occurs when someone overcommits to creditors and doesn’t have enough money in their bank account to cover the total amount to be withdrawn. When this occurs and the person does not have overdraft protection, the transfer is rejected and their bank charges them a fee (which is often around $45). We are also charged a $25 fee every time a user incurs an insufficient funds error. As such, if you incur more than one insufficient funds error while using QUBER, we will ask you to pay a $25 fee to continue service. If you do not want to pay, you won’t be able to move money to The Vault anymore. We must enforce this policy to ensure that QUBER remains free for all users. If you’re uncertain about how this will affect you, we recommend checking with your bank for more information on your account’s specific policies before you start saving with QUBER. Learn more about our insufficient funds policies.
Looking for a more detailed overview of how the money movement process to and from The Vault works? Check out our guides below based on your location and bookmark them so you can refer back if you ever need a refresher.
