Spave

What Spave is

Spave is a mobile app that directs small contributions toward savings goals and causes as users spend. Users can set contributions to use transaction round-ups, a percentage, or a fixed weekly amount, then choose weekly minimums and maximums. Spave provides near real-time tracking of savings goals and impact. Its charity network, according to Spave, includes more than 1.5 million accredited nonprofits.

Spave uses Plaid to link bank accounts and collect transaction and balance data, and Dwolla for identity verification and money movement. The app says stored data is encrypted, bank credentials are not stored, and personal information is accessible only to authorized employees and contractors. The Live Give Save Foundation says 90% of each donation is reserved for nonprofit grants; the remaining 10% supports charitable administration, technology operations, and platform services. The foundation identifies itself as a tax-exempt organization under Section 501(c)(3), with contributions deductible as allowed by law.

Spave is available on Android and iOS. Its Free plan is listed as free and includes automatic saving and giving, a linked checking account, savings goals, and donations to causes. Spave says there is currently no fee to access its app features. Its terms say a free trial of paid subscription features may be available, but give no trial duration.

Who it suits

Spave suits people who want to direct small amounts toward savings and charitable causes as they spend. Its contribution options and goal tracking may also suit users who want to set weekly contribution bounds and follow their progress in an app.

Getting started

1. Install Spave on an Android or iOS device.
2. Link a checking account through Plaid.
3. Choose savings goals, causes, or both for contributions.
4. Set contributions as round-ups, a percentage, or a fixed weekly amount.
5. Set weekly minimums and maximums for contributions.

Verdict

Choose Spave if you want an app to automate saving and giving through spending-based or weekly contributions, with goal and impact tracking. It is available at no access fee according to Spave; people weighing donation allocation should note that 10% supports charitable administration, technology operations, and platform services.