I had funds swept from my bank account that I did not initiate, what is this?

If you had funds swept from your bank account on Wednesday, you might have linked your account to auto-grow, Blossom’s round up feature, which is causing these transfers to Blossom.

If you’d like to stop future auto-grow transfers, you can do so by heading into the app > clicking the home screen > Auto-grow > Edit > Delete.

What is auto-grow? With auto-grow, every time you make a purchase with your linked bank account, we round it up to the nearest $1, $2, $5 or $10 - you decide! Let's say you choose to round up your purchases to the next $1. If you spend $4.50 on your morning coffee, we'll set aside your spare $0.50.

Next, you need to decide on your multiplier. You can choose to double each round up ($0.50 x 2 in this case) or multiply it by 3x, 4x, 5x or even 10x if you wish. Then, you keep spending and we keep rounding.

Once your loose change accumulates to $5, $10 or $20 (also your choice!), we'll sweep it to your Blossom account, allowing you to target 5.45% p.a. returns on your loose change.