Introducing Boxes

For generations, people have used boxes to save towards financial goals. First, it was the shoebox tucked under a mattress, then a safe hidden in the closet, and finally the local bank’s safety deposit box open Monday - Friday. But these boxes weren’t actually that effective at saving funds. Sure, they protected funds from theft, but due to inflation and without competitive APY, the value of money in these boxes decreased each year.

Our newest financial planning tool Boxes, takes the best of these boxes, safety, security, and access, and pairs it with our APY engine, so you can safely advance towards your goals faster.

A financial planning tool

When saving for a specific goal, it’s recommended to first define that goal. Then to open a separate area to save money into, specifically for that purchase. This is to avoid the temptation of spending that money. When saving towards multiple goals, wealth managers recommend opening different accounts for each specific goal. By breaking down each savings goal into a sub-account, you can apply different savings and growth strategies towards each goal and better track progress towards each one.

With Boxes, you can safely set and save towards multiple goals at the same, while still earning your plan’s APY on each. Boosts included. This puts your money to work so you can reach your goals faster. Boxes also come with all the same security features of Donut. You can even dress them up with icons, emojis, and custom names.

We want Donut to be where you reach your goals. For each Box, you can set a custom goal of how much you’d like to save and a target date. When you reach your goal, you can close your Box and transfer your funds to your main account to make that special purchase, then start saving for your next one. Or, you can keep saving and edit your goal by increasing the amount and updating your target date. 

When you create a box, you make an agreement with yourself to intentionally save a portion of your money for something you really want. This intentional saving matures into intentional spending, adding layers of good habits to your financial practice.

When the best investment you can make is in yourself, Boxes is here to make that a little easier.

Meet the cast of Boxes

  • Main Account → Main Account is your default savings account on Donut. All deposits and withdrawals are made from Main Account. All recurring investments and collect round-ups go to Main Account. When you close a box, any remaining funds move to your main account.

  • Create Box → Create up to 3 Boxes to set aside money for those special goals. 

  • Name your Box → Give your box its own name. Even add an emoji to it! We’ve even included some suggestions here based on the most popular Boxes users have created.

  • Pick your Icon → Dress your box up with a fun icon!

  • Transfers → You can transfer to and from Main account, or between Boxes. If you close a box, any remaining funds will move to your main account.

  • Set Goal → For each Box, you can set a goal for how much you'd like to save, and by what date. When you reach a goal, you can transfer your funds to your main account or update your goal and keep saving. 

An interview with the main character: Boxes

What APY do I earn on my Boxes?

Each Box you create earns the same protected base APY as your plan. All active boosts are applied as well.

Do boosts apply to all Boxes?

They sure do. Tell your friends. 

Do Boxes have any more risk?

Nope! Boxes earn the same protected base APY as your plan and come with all the same security features.

What are the most popular Boxes users have created?

We’re blown away by the early adoption of Boxes by Donut users. We’ve seen a lot of users using Boxes to save for new cars, homes, vacations, kids, or rainy day funds. We even saw one for our sibling, croissants.

What happens when I reach my goal?

When you reach a goal, you can transfer your funds to your main account or update your goal and keep saving. 

How long do I have to wait after deposit to transfer funds into a Box?

You don’t have to wait at all. Thanks to Instant APY you can transfer new deposits into a Box right away. 

Can I transfer from a Box whenever I want?

You sure can. On Donut, fast liquidity is a feature. There are no lock-ins or commitments.

Can I close a Box whenever I want?

Yes! Boxes were designed to help you better reach specific savings goals. Once you hit yours, spend it on that special item - you deserve it!

Can I deposit directly into a Box?

Not yet. All deposits, recurring investments, and collect round-ups on Donut first arrive to your Main Account. From here you can transfer to any Box you’d like. 

What’s next for Boxes?

In the not-so-distant future, you’ll be able to diversify the plan of each Box and save into shared Boxes with friends. 

Sounds great, how do I get started?

Make sure you are on the latest version of the Donut app and start creating Boxes from your home screen’s navigation bar.

Getting started with Donut

Donut is available in the United States and can be downloaded from the App Store or Google Play Store.

Donuts with friends

Increase your APY +5% for 5 days every time a friend you refer makes their first deposit on Donut. Head to the Boosts section of your app to start introducing friends to the future of finance.

Real talk 🚨

Any saving and investment strategy puts your capital at risk.

The above information is intended for informational purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.