Emergency Fund | Definition

/əˈmərjənsē fənd/

An emergency fund is a large amount of money set aside, typically in a savings account | underwater loan | withholding tax | passive income | cryptocurrency | dividend yield | working poor | forbearance | underbanked | scholarship | chexsystems | stock split | trust fund | investment | withdrawal | tax credit | employment | index fund | deferment | liability | redlining | black tax | monetary | altcoins | 401(k) | wealth | grant | bank | bond | spac | definitionsin case of any unexpected financial surprise. Those surprises can include a job loss, medical emergency, car repairs, etc. The purpose of having an emergency fund is to avoid borrowing money and going into debt.

Next word Bank Product ᐳ

Download the CapWay App

Access more features to your Money Account

  • Money Goals
  • Request Money
  • Categorize Spending
  • Money Talk

The CapWay, Inc Debit Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.

1. For Money Account holders with a negative balance, the CapWay debit card will go into freeze until funds are deposited to bring account back to current. See terms and conditions

2. Sending or receiving money from other CapWay account holders will be instant. Transfers from other accounts could take up to 48 hours, depending on the financial institution.

3. Early access to funds requires direct deposit. Early payment is not guaranteed and is dependent on the timing of payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

4. Money Goals allows account holders to save money towards financial goals created within the CapWay platform. Funds can be transferred from your Money Account or saved through the rounding up of your transactions from purchases.

5. CapWay offers financial content through Learn Money free of charge, but may include advertisements through affiliates. Phunds, CapWay's literacy program and session, is paid content or co-branded content.

© 2019-2022 CapWay Inc. All Rights Reserved.