Yoco Savings automatically saves a percentage of your daily net earnings into a savings pocket, so you can set money aside and save for your next big milestone – whether that’s to buy new equipment, expand your store footprint, save for a marketing campaign, build reserves, or manage future expenses more effectively.
Automate your savings
Choose how much to save before every payout and we'll set it aside in a savings pocket in the Yoco App (mobile or web).
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
Pause, adjust your percentage, or close your savings pocket at any time.
Creating a savings pocket
Select the Money tab.
Select the Yoco Savings tile/widget.
An information pop-up will appear – read through it so that you understand everything you need to know about Yoco Savings.
Select the Start saving button.
Set a savings goal and choose a percentage of your daily net earnings to save into your savings pocket – select one of the buttons with the preset amounts, or enter any other percentage you like. 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 savings pocket is now ready to accept your automated savings!
Editing your savings pocket
Select the Money tab.
Select the Yoco Savings tile/widget.
Select the Edit Pocket button in the top right corner of the screen.
When the Edit pocket screen opens up, add a name for your savings pocket, e.g. Store Renovations, Staff Training, New Coffee Machine, etc.
Select the Upload file button to add your own image to your savings pocket. If you prefer to keep the existing image, simply skip this step.
💡 Good to know: The image you select will also reflect in the Yoco Savings tile/widget in the Money tab.
Select the Savings configuration tile/widget if you want to change your savings goal or percentage.
Change your savings goal or the percentage of your daily net earnings you want to save into your savings pocket.
Select the Save button once you've made the changes.
Withdrawing from your savings pocket
Select the Money tab.
Select the Yoco Savings tile/widget.
Select the Withdraw button from the row of buttons at the top of the screen.
Enter the amount you’d like to withdraw from your savings pocket.
Select the Withdraw button.
The amount you’ve withdrawn will be paid into the bank account linked to your Yoco profile immediately.
Pausing your savings pocket
Select the Money tab.
Select the Yoco Savings tile/widget.
Select the Pause button from the row of buttons at the top of the screen.
A red banner will appear on screen confirming that your savings pocket has been paused. The Pause button will also have changed to Unpause. You can select the Unpause button any time you like to immediately continue saving into your pocket.
Closing your savings pocket
Select the Money tab.
Select the Yoco Savings tile/widget.
Select the Close button from the row of buttons at the top of the screen.
Choose a reason for closing your savings pocket.
Select the Close pocket button.
✨ Important: 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.
Viewing your savings pocket history
Select the Money tab.
Select the Yoco Savings tile/widget.
If you’re using the Yoco Web App, your Yoco Savings history will now appear on your screen. If you’re using the Yoco Mobile App, select the Pocket history button to view a list of your pocket savings and withdrawals.
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
Can I create more than one savings pocket? Currently, it’s only possible to create one savings pocket at a time, but we will be launching multiple pockets soon.
Can I deposit extra savings into my pocket? Manual deposits are not currently available for your savings pocket. Only automated deposits can be made into your pocket by selecting to save a set percentage of your daily (net) earnings.
How does interest work? Interest helps your pocket savings grow automatically. The longer your money stays in your savings pocket, the more it earns.
Interest is calculated daily on the amount in your savings pocket at midnight and paid out monthly at the beginning of the new month.
Every day’s interest adds up and is shown as pending interest until it’s paid out.
Interest is paid at the beginning of the next calendar month (no later than the 5th of the month).
If you withdraw part of your balance, the remaining balance will continue earning daily interest until your next payout.
If you withdraw your full balance, you’ll earn interest up to the withdrawal date. Your ‘pending interest’ will be paid with your next monthly payout, even if your savings pocket is empty after you’ve withdrawn funds.
By closing your savings pocket before interest is paid out, you’ll miss out on that month’s interest.