Overview
Move Funds lets you transfer cash between Daffy funds you organize. Members who are organizers of two or more funds can use it, for example, to move money from a personal fund into a family fund.
To send money to a fund that belongs to someone else, use Send Funds instead. See How do I send funds to another member’s Daffy fund?
How do I move funds between my own funds?
On Web
Go to your profile page and click Move Funds.
Choose the fund to move money from and the receiving fund.
Enter the amount (minimum $20, in whole dollars) and an optional note.
Review both funds and the amount, then click Submit.
On iOS
Open Move Funds from any of these places:
Your profile: tap the More (•••) menu, then Move Funds.
Members & Advisors: tap Move Funds at the top of the screen.
The fund switcher on Home: tap Move Funds at the bottom of the list.
Choose the fund to move money from and the receiving fund.
Enter the amount (minimum $20, in whole dollars) and an optional note.
Review both funds and the amount, then tap Submit.
The transfer appears in the activity feed of the fund you moved money from.
Frequently Asked Questions
Why don’t I see the Move Funds option?
Move Funds appears only for members who are organizers of two or more Daffy funds. If you belong to a second fund as an advisor or family member, ask an organizer of that fund to change your role, or ask them to move the money. See What role permissions do members of my fund have?
Can I move money out of a fund I no longer use?
Yes. Move Funds lists every fund you organize, including a fund you no longer use day to day. Choose that fund as the source and move its balance to the fund you want to keep using.
Can I choose which of my funds receives money other members send me?
Yes. Go to Your Account > Incoming Transfers in your settings and select the fund that should receive transfers from other members. For full instructions, see How do I send funds to another member’s Daffy fund?
What happens after I move funds?
Daffy withdraws the amount from the fund you moved money from and adds it to the receiving fund as cash. If the sending fund doesn’t have enough uninvested cash, Daffy sells investments in that fund’s portfolio to cover the transfer. Because of market movement during the sale, the amount received can differ slightly from the amount you entered. A transfer stays scheduled for 1 hour after you submit it, and you can cancel it during that time from the transfer’s details.
Important Notes
You must be an organizer of both funds. Advisors and family members can’t move funds.
There is no maximum amount.
Moving money between your funds is not a new contribution, so it is not tax-deductible.