Ask IH: Do you think I should do it?
Hi,
Many people will know I'm trying out a saving bank app. The current way is depositing money but what's your thought of doing a subscription way of saving money. For example, the user chooses an amount to add per month and keep saving until a time period is over. Then withdraw it.
Is that better or the current way (no monthly savings)?
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That is something I already do with my bank's app/web app.
If I where to trust a 3rd party with my money in that way they must either be extremely famous/well known or a stablished bank.
Yeah, I guess traction is important here.
To be honest, I would put my money to a real bank, rather than somewhere else.
But suppose that you have some ways to make the user use it, then for your question, I think it depends on what kind of user you are expecting. As middle age or older people, they could have some saving already and they would prefer to save all of them. As younger people, their income is not high and not stable, a piggy bank would be their choice. Just my idea.
So then a monthly deposit sounds better.
I would rather send friendly push reminders then force users to send money somewhere. I would appreciate someone nagging me about need to put aside 50e a month.
Sounds like you prefer the monthly way.