Tally Launches Free Automated Savings Service That Rewards People to Save

SAN FRANCISCO, May 30, 2019 /PRNewswire/ -- Tally, a consumer tech company using automation to help people achieve their financial goals, today announced the launch of Tally Save, a completely free automated savings service that will reward people for saving money. Users will receive points they can redeem for gift cards to approximately 50 retailers, restaurants, airlines and more.

According to The Federal Reserve's Report on the Economic Well-Being of U.S. Households released last week, four in 10 American adults still can't afford a $400 expense with cash, savings or a credit card that could be quickly paid off.

"Saving money is one of the most important pillars of good financial health, but many people don't do it because they believe it requires hard work and sacrifice," said Jason Brown, CEO and co-founder of Tally. "Whether it's for a rainy day, a vacation or another big-ticket expense, Tally Save makes it effortless and rewarding to set money aside and build better financial habits."

To start saving, download the Tally Save app and sign up for free. Next, connect a checking account and choose how much to save. Start by setting aside as little as $5 each week, and Tally will automatically transfer that amount from the checking account to an FDIC-insured savings account. Then, sit back and watch the savings grow.

Tally Save will give users points for good financial behaviors such as consistently setting money aside or paying more toward their credit card debt. They can redeem these points for gift cards to help with their everyday expenses at retailers, including Amazon, Target, Walmart and Starbucks. They can even exchange points for travel with Uber, Airbnb, Delta and Southwest Airlines, or use points to donate to a charitable cause, such as charity: water.

Tally's mission is to make people less stressed and better off financially through full-service financial automation. It started by building the first and only automated debt manager, saving people millions of dollars in interest and late fees.

"With Tally Save, people can now put their savings on autopilot," Brown said. "We're excited to continue adding more automated services to do all the hard financial work for Americans."

About TallyTally is a consumer tech company pioneering full-service financial automation to help people achieve their financial goals. Founded in 2015, the company is democratizing financial services to put billions of dollars back in people's pockets. It built the first fully automated debt manager to help people overcome credit card debt and provides a completely free automated savings service, Tally Save. Tally's vision is to automate people's entire financial lives so they can worry about money less and do what they love more. For more information, visit www.meettally.com.

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SOURCE Tally