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Save for the Holidays Using the iContract® Piggy Bank

With the holiday season nearly here, wouldn’t it be great to have something saved up so you can buy that cool new gadget, go on that weekend getaway or get your loved one a surprise gift?

Well, the Piggy Bank feature on the iContract® platform will let you do just that.

How does it work?

It’s simple. You can choose to set aside either an amount from contractor payments you receive.  Those funds will remain in your very own Piggy Bank until you need them.  You can then transfer any amount to your bank account, or you can ask us to do that for you.

How do I get started?

There are no special steps needed to set up your Piggy Bank; in fact, you can log in to your Certica® account right now and already nominate how much you want to save each payment.

Is there a fee for using my Piggy Bank?

Certica® does not charge any fee for the Piggy Bank feature.  However, there is a bank transaction fee of $1.10 every time funds are transferred from the Piggy Bank to your bank account.  The fee covers the cost of transferring the funds and is deducted from the actual amount being moved.

How soon can I receive the funds transferred from my Piggy Bank?

Piggy Bank transfers are released via Electronic Fund Transfer, just like payments you receive from clients.  That means you can expect to receive the funds in your bank account within 24-72 hours (excluding weekends and national holidays).

Do I get a receipt for Piggy Bank transfers?

Certica® does not send receipts for Piggy Bank transfers.  However, you can access your Piggy Bank withholding account report to verify the amounts credited to your Piggy Bank from payments you receive, as well as amounts transferred from your Piggy Bank to your bank account.  You can then print or save the report yourself or ask us to send it to you.

What if I want to stop using my Piggy Bank?

You can log in, or call us, to cancel your Piggy Bank at any time.  There’s no charge involved and any funds remaining in your Piggy Bank will stay there until you decide to transfer them.

With iContract®’s Piggy Bank, it’s easy to start saving for the holiday season or for a special occasion.  Even with just a small amount set aside every payment, you can relax in knowing that you have a little extra tucked away for a rainy day.

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