Yoco Savings automatically saves a percentage of your daily net earnings into savings pockets, helping you set money aside for the goals that matter most to your business. Whether you're buying new equipment, expanding your store, funding a marketing campaign, building reserves or planning for future expenses, you can create up to three separate pockets and personalise each one with a different savings goal.
Automate your savings
Set a percentage of your daily net earnings to save, and we'll automatically move it into a savings pocket before each payout.
Access your money instantly
Withdraw to your linked bank account, whenever you need it.
Earn interest on your savings
Get 4% p.a. interest, earned daily and added to your savings pocket monthly.
Stay in control
Manage your savings allocations and preferences at any time.
Getting started with Yoco Savings
With Yoco Savings, there are two ways you can save:
Create a goal-based pocket for a specific milestone, like a new coffee machine, equipment upgrade or a second store.
Create a general savings pocket that automatically saves a percentage of your earnings, so you're always putting money aside for future business needs.
→ Creating a goal-specific pocket
Select the Money tab.
Select the Savings tile/widget.
When the screen pops up, select the Save for a goal tile/widget.
When the screen changes, enter the following information:
Pocket name
Target amount
Percentage of net earnings – select one of the buttons with the preset amounts, or use the slider to enter any other percentage between 1% and 100%. This amount will be deducted from each payout before the balance is paid out.
Select the tickbox to agree to the Terms and Conditions, then select the Create pocket button.
Your goal-specific savings pocket is now ready to accept your automated savings. If you'd like to add an image to your savings pocket, select the + Add an image button.
Select the Upload button to add an image of the item or project you're saving towards. When you're done, select the Save button.
Select the Done button.
→ Creating a general savings pocket
Select the Money tab.
Select the Savings tile/widget.
When the screen pops up, select the Save part of my earnings tile/widget.
Use the slider to enter any percentage between 1% and 100%. This amount will be deducted from each payout before the balance is paid out.
Select the tickbox to agree to the Terms and Conditions, then select the Start saving button.
Your general savings pocket is now ready to accept your automated savings.
Managing your savings pocket
Select the Money tab.
Select the Savings tile/widget.
Select the pocket you want to edit.
Select the Manage button – you'll find it just above the Withdraw button.
When the Manage pocket screen opens up, you'll see three grey tiles:
Customise
Pocket allocation
Saving preference
Select the Customise tile to change the following:
The name of your pocket
The target amount for your pocket
The image you've added to your pocket
Select the Savings pocket allocation tile to change how the percentage of your daily earnings you've set aside in your pocket(s) is split up.
For example: If 100% of the 15% of your daily earnings is allocated to your Coffee Machine pocket, but you want to split the savings equally between this pocket and your New Store pocket, use the slider under the Coffee Machine heading to reduce the percentage that's allocated to your Coffee Machine pocket to 50%. Then, use the slider under the New Store heading to take the percentage that's allocated to your New Store from 0% to 50%.
❗ Important: If you only allocate 40% of the 50% you have available to your New Store pocket, the remaining 10% will automatically default to your General savings pocket as shown in the image below.
When you've finished adjusting the allocation of your savings, select the Next button to confirm that's you're happy with the changes you've made.
Select the Savings preference tile to change the percentage of your total daily earnings you'd like to save (Note: This setting applies across all your savings pockets, not just the one you're currently in – it’s the percentage of your earnings you want to save, split across your pockets). Use the slider or input a custom percentage. Select the Save button when you're done.
Withdrawing from your savings pocket
Select the Money tab.
Select the Savings tile/widget.
Select the pocket you want to withdraw your savings from.
Select the Withdraw button below the image.
Enter the amount you’d like to withdraw from your savings pocket.
Select the Next button.
The amount you’ve withdrawn will be paid into the bank account linked to your Yoco profile immediately.
Stopping your savings
Select the Money tab.
Select the Savings tile/widget.
Select the Savings preference tile/widget to the right of the General savings history tile/widget.
Use the slider to take your savings preference down to 0% – this will stop any funds being set aside in a savings pocket.
💡 Good to know: Any money you've saved up to this point will remain in your savings pocket(s). You can stop saving for as long as you need to, then start up again when you're ready. The money in your savings pocket(s) will continue to earn interest during this 'pause'.
Closing your savings pocket
Select the Money tab.
Select the Savings tile/widget.
Select the savings pocket you want to close.
Select the Manage button – you'll find it just above the Withdraw button.
Select the Close pocket button.
Enter a reason for closing your savings pocket.
Select the Close pocket button.
You'll see a confirmation message once your savings pocket has been closed.
❗ Important: When you close a pocket, the savings percentage assigned to it will automatically be reallocated to your general savings. To change how your savings are split, select the Savings pocket allocation tile in your pocket. Click here, then scroll to step 8 for more information.
✨ Please note: The interest from your savings pocket is paid out at the end of each month. If you decide to close your savings pocket before month-end, you’ll miss out on your interest for that month.
Yoco Savings error messages
'Request to banking service timed out'
If you see this message while trying to withdraw from your savings pocket, wait to confirm that the withdrawal was completed successfully. If the withdrawal doesn't reflect in your bank account, please try again.
If you see this message will trying to create your savings pocket or update it, please wait five minutes, then try again.
'Could not connect to banking service'
If you see this message while trying to create, update, or withdraw from your savings pocket, please wait five minutes, then try again.
'Network error connecting to banking service'
If you see this message while trying to create, update, or withdraw from your savings pocket, please wait five minutes, then try again.
💰 Yoco Savings FAQs
What is Yoco Savings? Yoco Savings helps you put money aside for your business automatically. Choose a percentage of your daily net earnings, and we'll move that amount into a savings pocket in the Yoco App (mobile or web) before each payout. There's no need for manual transfers, separate accounts or extra admin.
What is a pocket? A pocket is a dedicated space in the Yoco App (mobile or web) where your savings are stored. You can create pockets for different goals, whether that's buying new equipment, paying VAT, building a cash reserve or preparing for a busy season. Each pocket tracks your progress and can have its own savings allocation. You can create up to three pockets.
How does Yoco Savings help my business? Running a business means planning for future expenses, from stock purchases and tax payments to quieter trading periods. Yoco Savings helps you build those reserves automatically. Set your savings rules once, and money is put aside as you earn it, so it's there when you need it.
How does automatic saving work? When you create a pocket, you choose what percentage of your daily net earnings you'd like to save. At the end of each day, that amount is moved into your savings pocket and the rest is included in your payout.
How do I get started? Open the Yoco App (mobile or web), go to the Money tab and select the Savings tile/widget. Then follow the prompts to create your first pocket.
How quickly can I access my money? Your money is always available when you need it. Open your pocket, tap Withdraw, and the funds will be paid to your nominated bank account instantly.
Does my money earn interest? Yes, money in your pocket earns 4% interest per year, calculated daily and paid monthly, from the first rand saved.
Does it cost anything to use Yoco Savings? No, there are no setup fees, monthly charges, minimum balances or lock-in periods.
Can I save for more than one thing at a time? Yes, you can create up to three personalised pockets, each with its own savings goal and allocation.
Can I change or pause my savings? Yes, you're always in control. You can adjust your savings percentage, stop saving, or withdraw funds whenever you need to.
Who can use Yoco Savings? Yoco Savings is available to eligible South African businesses with a fully verified Yoco account. To qualify, you'll need:
A valid mobile number on your account
A valid South African ID number
A completed verification check
To be a sole proprietor, or a company with a single director and shareholder
If you don't see Yoco Savings in your app yet, you may still need to complete one of these requirements. Contact Yoco Support if you need help.
Can I deposit extra money into my pocket? No, not right now. Money is added automatically based on the savings percentage you choose when setting up your pocket.