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COVID-19: You & your money are in good hands with Qapital

6 Apr, 2020


Recent weeks have been marked by uncertainty for all of us, and our hearts go out to anyone impacted by COVID-19 worldwide. 

Rest assured,

  • We are here for you. 

Qapital is operating normally. You can reach out to our support team with any questions or concerns.

  • Now more than ever, we encourage you to rely on Qapital. 

Many of our customers have taken charge of their finances by setting up new savings goals, particularly emergency funds. Having money saved, and continuing to save when possible, is crucial, as is the confidence of knowing that your Qapital Goals accounts are safe and FDIC insured.

Thanks for being a part of Qapital. 

Stay well,
George Friedman
CEO, Qapital

Your questions, answered.

Is Qapital functioning normally?
All Qapital services, including Master, Complete and Basic subscriptions, Qapital Goals, Qapital Invest, Payday Divvy, and Qapital Card are functioning normally. As always, our customer service team is on hand to answer any questions you might have. 

How do I set up an emergency fund?
In your Qapital app’s Overview screen, tap on Select Goal. From there, you can navigate the prompts manually, or scroll down to the pre-set Emergency Fund goal. You’ll be able to customize every aspect, from the goal amount, to when you imagine needing it, and whether it’s shared with someone else. 

I have money saved with Qapital; can I shift the Goal to become an emergency fund?
Yes! To change an existing goal’s purpose, find it on your Overview screen, tap on it, then click the three dots in the top right-hand corner, and select Edit Goal. Here, you’ll be able to easily edit the name, display image, goal sum and target date for your goal. All existing rules will remain in place, though you can edit those too at any time. 

Do you have recommendations on how to weather this period of financial uncertainty?
When faced with challenges, we often turn to behavioral economics for answers. Taking human nature into account, and considering the importance of saving and investing as long-term financial health strategies, our Chief Behavioral Economist Dan Ariely recommends* the following:

  • Keep saving as much as possible, and be specific: If you are able to continue saving, we encourage you to do so. This, in addition to specifying what you’re saving towards – whether it’s an emergency fund, or that kitchen renovation you plan to kick off when life returns to normal – is going to help you stay on track.
  • Buy & hold should be your investment mantra: Temporary volatility can get you down, but remember that investing is a long-term game. If you plan to use the money you’ve invested years from now, then volatile markets this week, this month or even this year shouldn’t be of much consequence to your long-term Goals.
  • Don’t make decisions out of fear: “Don’t make market decisions when your head is clouded by emotions,” says Dan, referring to the emotional state often brought on by checking the stock market repeatedly. Being driven by fear can make you pull funds from your portfolio before you need them, hurting your finances in the long run.

* The materials and content on the Qapital app and website are not, and shall not be construed as, tax, personal financial planning, or financial advice. Please consult a qualified professional about your personal situation.