Recurring transactions make investing easy to take advantage of dollar cost averaging with an automatic recurring buy. All you have to do is choose the asset you want to buy, specify an amount, and choose a daily, weekly, or monthly schedule. Abra will then automatically repeat that purchase until you change or cancel it.
All US users can schedule a total of 5 Recurring deposit transactions.
Every recurring deposit needs to be checked against each other's limits:
Daily Maximum: $20,000
If you schedule a weekly recurring transaction for $10,000 and the daily limit is $20,000 then when you try to schedule another this will be counted in the limits for that week.
If you happen to have initiated multiple deposits that week, the limit will be lower based on both what you have done and the recurring transaction.
Important things to note:
- ACH Transactions only relate to US users at this time
Max is a total of 4 recurring transactions options
- Schedule Recurring Frequency Options:
- Just once (default setting): Represents a one-time transaction
- Weekly: A scheduled weekly recurring transaction that will be executed on Mondays
- 1st & 15th of the month: A scheduled recurring transaction that will occur twice a month, the 1st and 15th.
- Monthly: A scheduled recurring transaction that will occur monthly, the first Monday of each month.
- Recurring Exchanges relate to both INTL & US users