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Setup

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Setup

Setup step 1:  Link

*We recommend setting up the app on a desktop or laptop.​

Connect your bank accounts and credit cards

  • On the Accounts page and click “Link accounts and credit cards” to get started.

  • Search for each of your financial institutions.

  • Link your checking account, your savings account and your credit card(s) to the app.

Indicate the purpose of each account and credit card

  • For your checking account, choose Primary Checking and Otto will create four set sub-accounts.  

    • A Bills Account for paying your bills, such as rent, utilities or monthly subscriptions.

    • A Spending Account for your necessary spending such as groceries, household goods or gas for your car.

    • An Income Account that collects your income.

    • And finally, a Credit Card Payoff Account that holds the money you need to make your credit card payments.

    • You can add additional sub-accounts to further organize the money in our checking account.

    • Name your additional sub-accounts based on what you will use them for, such as gifts, clothing or entertainment.

  • For your savings account, choose Primary Savings.

    • Name your sub-accounts based on what you are saving for, such as, Vacations, Home Improvement or a new car. 

    • You can add additional sub-accounts to further organize the money in your savings account.

  • For your credit cards, choose Credit Card.

    • Name each credit card for easy identification.​​

  • To change the color of the icon, click on the icon and choose the new color.​​​

Setup step 2:  Discover

*We recommend setting up the app on a desktop or laptop.​

After you've linked your bank accounts and credit cards go to the Dashboard.  Here you will see that all of the money in your checking account is currently in your Bills Account. You’ll now separate this money based on three simple questions:

How much do you currently owe on your credit cards?

  • Your credit card tracker shows the current balances of all of your credit cards.  To cover your credit card balances, simply move enough money into your Credit Card Payoff Account to cover this amount.

    • Click "Edit". 
    • Select your Bills Account.  

    • Now select your Credit Card Payoff Account.

    • Enter the "difference" amount (this will be the total amount you owe) and click “move.”

  • Your credit card balances are now covered.  When your credit card payments come due, you are ready to pay them.

How much do you need to keep in your Bills Account?

  • You will need to leave in your Bills account enough money to cover your upcoming bills.

  • To help you determine how much money you need, create a Bills Account schedule. 

    • Make a list of all of your bills, such as rent, utilities and monthly subscriptions. 

      • Include bills paid on your credit card and bills that come directly out of your checking account.  

    • Enter the description, amount and frequency of each bill.  

      • For your reference, you can also add an approximate due date.  

  • Leave the entire schedule amount in your Bills Account or select the upcoming bills you wish to cover.

How do you plan to spend the rest of your money?

  • Once you've set aside money for your credit card payments and bills, the remaining money is available to spend.

  • Move this money out of your Bills account and into your Spending Account and your other sub-accounts.

    • Click the Edit text button

    • Choose the account you want to move money FROM

    • Choose the account you want to move money TO 

    • Enter the amount you want to move and click the Move button.

  • *Remember to leave the amount you calculated earlier in your Bills Account.

  • You can also move around the money in your Primary savings sub-accounts based on how you plan to use it.