Once you set up a monthly savings plan from your bank account, the plan will trigger a withdrawal from your account on the 15th of each month. Your first contribution will happen on the 15th of the month following the setup of your withdrawal.
You have until the last calendar day of the month to set up your contributions for the first withdrawal to take place on the 15th of the following month.
For example, if you set up your monthly contributions on any day in February (e.g., 1st, or 10th, or 25th) - the first withdrawal will occur on March 15th.
Within 2-3 business days of the money leaving your account, you will receive a confirmation that your contributions have been received. Due to processing time, there may be a delay of up to one week before you see your latest contribution reflected in your account balance.