M1 Blog > M1 > Smart Transfers: Your new way to manage money automatically

Smart Transfers: Your new way to manage money automatically

Smart transfers logo

Everyone is trying to make the most of their money. Automation is the new wave in personal finance, and we don’t disagree. In fact, we believe it’s your #1 advantage.

At the least, financially responsible people:

  1. Live below their means.
  2. Build an emergency savings fund.
  3. Pay off high-interest loans.
  4. Contribute to a retirement account.
  5. Contribute to a well-diversified long-term portfolio.

But these steps are separate and often clunky.

Wouldn’t you rather spend your time and energy on something else?

Many personal finance platforms let you automate (to a certain extent). You may even do this now with a recurring transfer or two on M1.

And while automating your money on a schedule can be helpful for your financial strategy, we thought it was time to take it to a new level.

Introducing Smart Transfers: the M1 Plus-exclusive automated system that keeps your money moving how you want:

How Smart Transfers work

If you’re an M1 Plus member, Smart Transfers let you set threshold-based rules in your various M1 accounts. No need to wait for a certain date on the calendar or that reminder on your phone.

For example: you know how much you’ll need in your M1 Spend Plus checking account each month to cover basic living expenses. You’re making regular contributions to your account, but there’s no need to over contribute. So, you set up a Smart Transfer to keep that minimum balance in your M1 Spend Plus checking account and invest the rest.

But you’re not limited to one Smart Transfer. You could set another rule that automatically taps into M1 Borrow (if eligible)* to refill your checking account if your balance drops too low.

Or you can set up several Smart Transfers to work between your M1 Spend Plus checking account, IRA, and taxable portfolio.

The Smart Transfer above will trigger any time a contribution to this person’s M1 Spend Plus checking account puts their Spend balance over $1,000. Extra money will be automatically swept into their IRA — until the IRA maxes out at $6,000 for the year.

Once that IRA limit is reached (or they’ve contributed more than $1,000 to their IRA that month), Smart Transfers will contribute any extra money to their taxable portfolio.

Smart Transfers do the hard work. All you have to do is contribute.

Your financial goals, your way

Smart Transfers doesn’t just work between M1 accounts. They work between M1 Pies (in different M1 Invest accounts) too!

Maybe you’re saving up for a dream house or a rainy day. You can make a Pie specific to that goal, no matter what it is.

With Smart Transfers, you can set maximum or minimum balances to keep each Pie on track.

For example: if you only need a specific amount in your Rainy Day Pie, you can set a Smart Transfer to automatically sweep any extra contributions to another Pie, like the one for your dream house or retirement.

The Smart Transfers you set will always be on and will continue working until you stop or change them.

Now you can put every available dollar to work according to your financial goals, without lifting a finger.

Get started with Smart Transfers

Here’s the thing: Smart Transfers are an exclusive M1 Plus perk.

If you’re already an M1 Plus member, you can get started with your Smart Transfer today! Just click on the Move Money tab in your M1 account.

If you’re not already an M1 Plus member, what are you waiting for? Upgrade the way you build your financial future for just $125.

Then you can start with Smart Transfers too.

*M1 Borrow available on margin accounts with a balance of at least $10,000. Does not apply to retirement accounts.

Terms and conditions apply.

Manage your money with M1

Invest, borrow, and spend on one intuitive platform. Customize your strategies, automate the big picture, and let The Finance Super App®️ take care of the day-to-day. M1 gives total control for your wealth today and tomorrow.

Sign up now
Example of the M1 Finance pie displaying how slices are divided
More About
Women holding smartphone that shows the M1 app home screen
M1 May. 5, 2022 Product updates, April 2022: Stock research, account transfers, and more

Welcome to our product updates roundup, where we share what’s new on M1. Since the start of the year, we’ve launched several features that make it even easier to manage your finances […]

Image of three people around a campfire with a tent in the background and the M1 logo in the bottom right corner.
M1 Apr. 7, 2022 Client stories: Tripling wealth using the FIRE movement on M1

One of our clients, Billy G., follows the FIRE framework—and he’s planning to retire at age 35. Discover how Billy and his wife use M1 to achieve their financial goals. 

What’s in a name? Why we named the company M1 Finance.
M1 Feb. 15, 2022 What’s in a name? Why we named the company M1 Finance

We often get the question, “Why did you name the company M1 Finance?” Well, there are three reasons.  1. M1 defines the platform we’re building  Economists use “M1” to refer to a […]

Check the background of M1 Finance LLC on FINRA's BrokerCheck

By using this website, you accept our Terms of Use and Privacy Policy and acknowledge receipt of all disclosures in our Disclosure Library. All agreements are available in our Agreement Library. M1 relies on information from various sources believed to be reliable, including clients and third parties, but cannot guarantee the accuracy and completeness of that information.

M1 refers to M1 Holdings Inc., and its affiliates. M1 Holdings is a technology company offering a range of financial products and services through its wholly-owned, separate but affiliated operating subsidiaries, M1 Finance LLC and M1 Spend LLC.

M1 Plus is an annual membership that confers benefits for products and services offered by M1 Finance LLC and M1 Spend LLC.

All investing involves risk, including the risk of losing the money you invest. Past performance does not guarantee future performance. Using M1 Borrow’s margin account can add to these risks, and you should learn more before borrowing. Nothing in this informational site is an offer, solicitation of an offer, or advice to buy or sell any security and you are encouraged to consult your personal investment, legal, or tax advisors.

Brokerage products and services are not FDIC insured, no bank guarantee, and may lose value. Brokerage products and services are offered by M1 Finance LLC, an SEC registered broker-dealer, Member FINRA / SIPC.

M1 is not a bank. M1 Spend checking accounts furnished by Lincoln Savings Bank, Member FDIC. M1 Visa® Debit Card is issued by Lincoln Savings Bank, Member FDIC.

Credit Card not available for US Territory Residents. Review Cardholder Agreement and Rewards Terms for important information about the Owner’s Rewards Card by M1. The Owner’s Rewards Card by M1 is Powered by Deserve and issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.

200 N LaSalle St., Ste. 800 Chicago, IL 60601

© Copyright 2022 M1 Holdings Inc.