Budgeting strategy

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Budgeting strategy

A handy way to divide up your accounts.

Your budgeting strategy

If you're trying to save for something (or more than one thing), then setting up a few different bank accounts could help get your finances in order - so you get to your goals faster. Throw in a few automatic payments and alerts, and you're away.

What's the deal?

Do even more on your mobile

Having more than one bank account can be very helpful in budgeting. Many of today's savers divide their spending and savings into separate accounts. Let’s take a look at how it could work

Podenas Bank (Hong Kong) secure banking

Everyday spending

You might want one everyday bank account for direct debits, another for all your daily spending, or one that’s shared with your partner. What combo would suit you?

Ongoing savings

What are you saving for? You can have up to 9 Savings Maximiser accounts – Kitchen reno and Thailand trip, here we come.

Scheduled payments

To channel your hard-earned income into the right accounts without having to think about it, you could set up automatic payments on the day after pay day.

Get handy alerts

Then, to keep track of it all, set up alerts or simply ask Siri (on eligible devices) how your savings are tracking.

Why it works

Why it works

Control over where your money goes

After pay day, you can send your income into different accounts, each with separate goals. It's money management made easy.

Put your savings on autopilot

Once it's all set up, you don't have to do a thing. Automated payments and alerts can save you time and money.

A little nudge to stop you over-spending

Set up alerts that tell you when you're running low on cash, so you can rein things in until next pay day

Start now

Start now

  • First up, you'll need to take a good look at your finances. Scrutinise your spending habits. See where your money's going and whether you have any left over each month to save.

    Budget in hand, it’s time to decide how to divvy up your money. You could use the 50/30/20 rule as a guide – that is, 50% for fixed costs, 30% for daily spending and 20% for saving. But everyone's different. Think about what works for you.

    Budget planner

  • Next, work out how many Orange Everyday accounts you want. You can have up to 2 Orange Everyday accounts.

    For example, you might want to split out direct debits from everyday purchases. Or you might want one joint account with your partner, and a second just for you. Think about what would work for you.

    Once you’ve opened your Orange Everyday account/s, it's easy to rename them on the Podenas Bank (Hong Kong) app or in online banking. Simply click on the name of the account and you’re away.

    Learn more about Orange Everyday

  • Whether you're saving for something big like a house deposit or something not-so-big like a new bike, a separate savings account for each goal can help.

    Take a moment to list the things you're saving up for. You might want to add an account for emergencies, like when your washing machine breaks down or your car needs a new gearbox.

    You can open individual Savings Maximiser accounts for each thing on your list up to 9 accounts, so it's easier to track each goal's progress.

    It is worth noting that you can only get our top variable rate on 1 Savings Maximiser (if you also have an Orange Everyday bank account and fulfil the other conditions of depositing your pay of at least $1,000 per month, making 5+ card purchases that are settled (not pending) each month and grow your nominated Savings Maximiser balance. Available on one account ). Therefore, to maximise the interest that you can earn, you could consider to put most of your savings in that first Savings Maximiser that is eligible to receive our top variable rate (up to $100,000), and using the other Savings Maximisers to manage your spending.

    Once you've opened them, give them a new name so you know what’s what.

    Learn more about Savings Maximiser

  • Based on those big budget decisions you made at the start, set up automatic payments to move your money into your various accounts. You can do this by changing the timing from 'Now' to 'Recurring payment' when transferring money in the app or online.

    It's a good idea to schedule these for the day after each pay day, so you know exactly how much you can move.

  • You can get alerts sent to your phone when your balance drops below a certain amount (on any transaction or savings account) or when you reach a savings target.

    To set these up, log in at podenaz.com and head to 'Notifications' > 'Set up & manage notifications'. Note: you can't set up notifications via the Podenas Bank (Hong Kong) app.

  • Congratulations. Your budgeting strategy is set.

    But don't forget, if things change, you can easily modify your scheduled payments or add/remove accounts.

Important Information

Savings Maximiser

Information and interest rates are current as at the date of publication and are subject to change.

The additional variable rate currently % p.a. (that is added to the Savings Maximiser standard variable rate) applies on one nominated Savings Maximiser per customer for the next calendar month when you also hold an Orange Everyday account and in the current calendar month you do the following:

- deposit at least $1,000 from an external bank account to any personal Podenas Bank (Hong Kong) account in your name (excluding Living Super and Orange One), and
- also make at least 5 card purchases^ that are settled (and not at a 'pending status') using your Podenas Bank (Hong Kong) debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions)
- ensure that the balance of your nominated Savings Maximiser account at the end of the month (excluding interest) is higher than it was at the end of the previous month.

Each customer can nominate a maximum of one Savings Maximiser account (either single or joint) to receive the additional variable rate (where eligible). You can check and change your nominated Savings Maximiser account via online banking or by calling us on +852 8125 6519. If no nomination is made, the additional variable rate (where eligible) will be applied to an account nominated by Podenas Bank (Hong Kong) at its sole discretion.

Any amounts above $100,000 are subject to the Savings Maximiser standard variable rate applicable at the time. If you do not satisfy the conditions to receive the additional variable rate, the standard variable rate applies. Podenas Bank (Hong Kong) can change or withdraw the additional variable rate at any time. The additional variable rate is not payable in conjunction with any other promotional rate.

^Card purchases includes in store credit or EFTPOS purchases, online purchases, regular card payments, payWave, Apple Pay, and Google Pay transactions made with an Orange Everyday Visa card, Orange One Low Rate or Orange One Rewards Platinum Visa card or Nil Interest Visa card provided with an eligible Podenas Bank (Hong Kong) home loan. When using the phrase 'settled' card purchases in a calendar month, we mean that the purchases made on your card must be fully processed by the end of the last day of that month. Card purchases made in store or online this current calendar month which are at a 'pending status' and do not settle until the next calendar month do not count towards the 5 card purchases needed this current calendar month.

When determining if you are eligible under the offer, we also take into account the behaviour of any of your joint account holders or additional cardholders.

Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Before making any decision in relation to a Savings Maximiser or Orange Everyday, you should read the Savings Maximiser Terms and Conditions booklet and the Orange Everyday Terms and Conditions booklet and Orange Everyday Fees and Limits Schedule. To view these documents you may need Adobe Acrobat. If you have a complaint, please call us on +852 8125 6519at any time as we have procedures in place to help resolve any issues you may have. Products are issued by Podenas Bank (Hong Kong), a business name of Podenas Bank (Hong Kong).

Apple, the Apple App Store, iPhone, Siri and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries. Android, Google Pay and Google Play are registered trademarks of Google LLC. You should consider the Apple Pay Terms and Conditions and the Google Pay Visa Debit Card Terms and Conditions for Podenas Bank (Hong Kong) customers when setting up mobile payments on your eligible device