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Spotted: Savedroid – IFTTT for your savings Written by Felicitas Hackmann on 1. August 2016

It can be a vacation, a new sofa, or a large birthday party – there are things you can’t buy with your pocket money. Sure, you can always put it on your credit card, but the long pay-off afterwards will make the months after your large purchase less fun.
Saving money and putting it in a separate account would be the easiest – but who are we kidding? Meet Savedroid, an app that has a different approach.
Launched last week for the – as of right now – Android-only app Savedroid tries to make saving less of a pain and more of a reward.

Here is how it works

savedroid AG - App-Screen - 3.) Wunsch-öbersicht
First, users define exact goals, so-called “Wishes”. “Winter in Bali” is one that came to my mind. In order to save up money for the trip, the app uses a well-known technique: If This Then That (IFTTT). What that means is you build rules (called “Smoove” which stands for “smart saving move”) for events that happen as a consequence of something else. For example: If THIS is posted on Twitter THEN send me an email.
In this case it means that users can define simple rules such as “If I use my debit card for an Amazon purchase, put 10 per cent of that amount to my Winter in Bali Smoove”. Other options could include steps you take. A rule could be: “Transfer €1 for every 250 steps I make.” Another rule could also include the time you spend on Facebook as a factor.

How to make money off other people’s savings

The app is free for the user. The startup teamed up with Wirecard Bank AG, also known as being the former partner of N26 (Number26) before they get their own banking licence. However, the idea is to offer users the option to purchase their “Smooves” through Savedroid’s partners in the future. That way, the startup will get a cut. Pretty much like you would know it from an affiliate program.


The startups has its service verified and promises users can access their money any time. Users can decide whether or not they would like to open a savings account at Savedroid (which would make sense) or not. If the latter is your choice the saved up amount will stay on your usual checking account.
Neither Savedroid nor others can access the money, the startup promises. So users can only transfer the amount to their own checking account and not to anywhere else.

In summary

Money automatically being transferred to a different account is not a brand new idea. However, the approach of making it not a fixed amount on a monthly basis but putting an almost gamification-like idea behind it could become a thing. Once it is out for iOS, we will test it right away.

Image: pexels / annaelk, SaveDroid