With Hnry Allocations, you can set aside a percentage of your income to be deducted each time you're paid. You can choose to set up as many Allocations and at any percentage (up to a combined 45%) that you'd like.
Here are the current Allocations we offer:
For any Allocation you set up, you'll need to indicate a percentage that you wish to Allocate. For Allocations going to entities linked to your IRD number (KiwiSaver and Student Loan Top-up), this percentage is all you'll need to provide as we'll handle the rest. Follow the following links to learn how to create an Allocation with Sharesies and One Percent Collective.
For an Allocation going to any NZ Bank Account, we'll just need the name of the Allocation ('Savings', 'Flatmate', etc.), the corresponding Bank Account number and, if needed, a Reference that will be displayed on Bank records.
N.B. If you have a Student Loan that is already being paid off through Hnry, the Top-up Allocation is an additional percentage so that you can pay off your Loan faster.
Once your payment clears through Hnry, your money will automatically be directed to the entity to which you Allocated.
N.B. KiwiSaver allocations must clear through IRD so might take several weeks to appear in your KiwiSaver fund. For more information, see here
If you have any questions regarding Hnry Allocations between platforms, feel free to reach out to email@example.com.