Make change with
spare change.

No. We process your donations once a month, so we save your roundups in your charity goal as cash before sending them to your selected charity. This means there is no investment risk related to any of the funds you want to donate.

The average Mylo user generates around $10 in roundups per week, but you might save more or less depending on how frequently you use your debit and credit cards. There are also three ways that you can reach your donation goal faster: give your savings a boost by depositing a lump sum in donation goal, multiply your roundups, or earn $5 towards your goal for every friend you successfully refer to Mylo.

We round up your purchases and put the same amount of spare change in every financial goal that you have created. Imagine you are saving for a vacation and also donating to a charity with Mylo. If you buy a coffee for $4.50, we will deposit the 50 cent roundup in both goals. In other words, you’ll be putting $1 aside on a $4.50 purchase.
You can also disable or accelerate roundups for specific goals. If you want to focus on your donation goal, you can temporarily pause roundups on other goals. If you want to reach a goal faster, you can multiply roundups (by 2x up to 10x) for an individual goal.

You can withdraw money from your donation goal anytime, at no cost, but be sure to do this before the last Friday of the month. That’s when we process your donation and send it to your chosen charity.

Referral bonuses will be deposited into the first goal that you created in the Mylo app. This means that if you were saving and investing towards a goal before you create a donation goal, the $5 bonus will be deposited into your original goal. If you want to donate the $5 to your selected charity, simply withdraw the money from your original goal and boost your donation goal with the same amount.