ImpulseSave Turns Impulse Buys into Savings

NEW YORK, June 19, 2012 /PRNewswire/ -- ImpulseSave, the personal finance company that is helping to change the way consumers save money by making it as easy and fun to save as spend, today opened to the public its online service that allows anyone to save toward their financial goals both automatically and on impulse.  People can sign up for this entirely free service by requesting an invite at www.impulsesave.com, and also download the free mobile app at iTunes to get the full benefit of "impulse saving" anywhere and anytime. In opening their free service to the general public, ImpulseSave has included a number of enhancements based on user feedback from its extensive private beta.

ImpulseSave provides people the easiest, the most fun and most effective way to save toward goals they care about.  Whether planning a wedding, paying off debt, taking a trip, or saving for college, ImpulseSave is a powerful tool that helps people actually reach their financial goals, not just plan for them. 

Through its private beta offering launched earlier this year, ImpulseSave found that its average user is now saving as much as $316 per month through its unique combination of both automatic savings and in the moment "impulse saving" transactions where the user can save any amount toward a specific goal whenever they feel tempted, or whenever the impulse strikes them. Overall, the average ImpulseSave user is on track to save more than $3,700 per year by securely transferring funds from their checking accounts directly into their ImpulseSave savings account.

ImpulseSave makes saving your money just as impulsive and instantly gratifying as spending it. The company provides a variety of fun and unique ways to save for specific goals, and lets consumers save anytime, anywhere towards those goals into one FDIC insured savings account.

People can now set up an ImpulseSave account in three easy steps:

• Create their first goal and set auto-saves
• Open their ImpulseSave savings account and securely link it to their checking account
• Start impulse saving from anywhere online and off, whenever they feel the urge to spend, and even save right along with friends if they choose.

"Americans on average are spending somewhere between 20-30 percent of their disposable income on impulse purchases they don't even remember making," said Phil Fremont-Smith, president and co-founder of ImpulseSave. "In a world designed to get us to spend a little more at every turn, ImpulseSave has transformed the option of saving from something once painful requiring self-discipline and planning into something that's just as fun, frivolous and even tempting as spending is."

ImpulseSave is currently partnered with Leader Bank, NA, a nationally chartered community bank dedicated to fostering the continued growth of their clients through a diverse array of products and services. The partnership allows ImpulseSave customers to move their money into an interest bearing savings account that is insured by the FDIC.

"We are very happy to be working with ImpulseSave on this innovative approach to saving money," said Jay Tuli, VP Corporate Development at Leader Bank. "We believe that turning some of those impulse purchases into ImpulseSaves is a great way to encourage savings for individual financial goals, whether it be paying down a mortgage or saving for a vacation."

All ImpulseSave users' financial information is encrypted as ImpulseSave meets or exceeds all industry standards to safeguard users' data. ImpulseSave employs 256-bit encryption used by financial institutions which means that all customers' financial information is encrypted. 

In addition, ImpulseSave plans to add new features to its service in upcoming weeks, including a geo location feature for its mobile app aimed at helping consumers curb their spending right when they're in a particular store, a browser extension which tempts you to contribute a small percentage of a purchase towards a goal as you shop online, working with charities to encourage users to impulse donate, and offering more ways to save with friends and family and much more.

Fremont-Smith added, "It's pretty simple. If you've ever looked at your finances and felt frustrated and wondered how you're going to get it all done, then you need to take a look at ImpulseSave. While brilliant marketers at Groupon and Amazon are working to get you to spend a little more everyday – ImpulseSave is here to finally equal that playing field. We're enabling people with a whole new set of options that puts doing something good with their money back on the menu –right at their fingertips like spending always is.  We're providing a new "Point of Saving" at every Point of Sale - and really, at every point in between."

About ImpulseSave

ImpulseSave is a personal finance company that is helping to change how people approach saving money. Through a simple, easy-to-use web and mobile interface, ImpulseSave has made saving money as impulsive and instantly gratifying as spending it, enabling people to save thousands of dollars a year. While most personal finance sites want you to set a budget and stick to that diet, ImpulseSave provides fun and unique ways to go on a saving spree, by enabling consumers to save anytime, anywhere towards specific goals – all into one FDIC insured savings account. Consumers can access ImpulseSave via mobile app, ImpulseSave.com, or a variety of other vehicles like Instagram and SMS. To learn more about ImpulseSave and how to get started, please visit https://impulsesave.com/.

Media Contact:
Danielle Giaccio
North 6th Agency, Inc.  
[email protected]  
212-334-9757

SOURCE ImpulseSave