Frequently asked questions
Straight answers about how Bagsly actually works.
What is Bagsly?
A savings app built around one idea: automated, goal-based saving with real friction on the way out, not just the way in. You pick a vault that matches how you actually want to save, and Bagsly handles the rest.
What's the difference between the five vaults?
Flex is a liquid balance you can deposit and withdraw anytime. Rent is a dedicated vault for rent and bills so that money never quietly gets spent on something else. Lock In locks a sum toward a goal date in exchange for a bonus rate. Drip auto-saves on a schedule you set, pulled straight from your linked bank account. Squad is a shared vault you and friends save toward together, with visible progress for everyone in it.
What happens if I withdraw from Lock In before the goal date?
An early-withdrawal penalty applies. Lock In also pays its full lock-period interest upfront into your Flex vault the moment you lock funds, so withdrawing early claws back a proportional share of that upfront interest — you pay whichever is greater, the standard penalty or the clawback, never both. Otherwise you could lock money, collect the interest immediately, and withdraw right away for a small flat fee, which isn't a real savings incentive for anyone.
How does interest work?
Flex, Rent, and Drip accrue interest daily on whatever balance they're holding. Lock In is the exception — it pays its full lock-period interest upfront to your Flex vault the moment you lock funds, instead of accruing daily like the others.
How do referrals work?
Share your referral code. When the person you referred funds their first vault — not just when they sign up — you both get rewarded. The reward is tied to them actually saving, not just installing the app.
What are Bag It and Invest?
Both are coming soon. Bag It is a save-toward-a-purchase feature with no interest and no credit check. Invest will offer vetted, fractional real estate opportunities through a partner platform. Neither is live yet — we'd rather say "coming soon" honestly than ship something half-built.
Is Bagsly available outside the United States?
Bagsly is built for the US market — identity verification and banking connections are set up around US financial infrastructure.
Something else on your mind? Create an account and take a look around — most of this is easier to see than to read about.