Once you have activated Roundups, Hugosave rounds up your Hugosave Visa Platinum Debit Card purchases to the nearest dollar and puts the excess into your Roundups ledger. Every Wednesday (by end of day), the total accumulated Roundups are transferred to your chosen asset.
Please note:
1. If the total in your Roundups ledger is less than $0.05, the funds will not be invested in your chosen precious metals or ETF assets. Instead, they will be carried over to the next weekly sweep.
2. Your Hugosave Roundups will only occur when the merchant has settled your transaction.
Scenario 1: When there are sufficient funds in your Save Account for Roundups:-
Transaction Example 1:
Transaction Amount: S$0.10
Round-up: S$0.90
Total Deduction from your Spend Account: S$0.10
Total Deduction from your Save Account for Roundups: S$0.90
Transaction Example 2:
Transaction Amount: S$1.30
Round-up: S$0.70
Total Deduction from your Spend Account: S$1.30
Total Deduction from your Save Account for Roundups: S$0.70
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Scenario 2: When there are insufficient funds in your Save Account for Roundups:-
Transaction Example 1:
Transaction Amount: S$0.10
Round-up: S$0.90
Total Deduction from your Spend Account: S$0.10
Top up from Spend Account to Save Account: $0.90
Total Deduction from your Save Account for Roundups: S$0.90
Transaction Example 2:
Transaction Amount: S$1.30
Round-up: S$0.70
Total Deduction from your Spend Account: S$1.30
Top up from Spend Account to Save Account: $0.70
Total Deduction from your Save Account for Roundups: S$0.70
If your Save and Spend Account does not have sufficient funds for Roundups deduction, Roundups will not be triggered for that transaction.
For more information on Roundups:
https://hugosave.zendesk.com/hc/en-gb/categories/1500001476841-Roundups
For more information on the transactions displayed in the Hugosave app: https://hugosave.zendesk.com/hc/en-gb/articles/8013773581591-How-does-your-transactions-display-within-your-Hugosave-app