What is a Spendable balance and how do I open one?
3 steps to create a new spendable balance (with pictures)
Matthijs
Last Update één jaar geleden
Beans lets you create two types of balances: spendable and savings.
A Spendable balance refers to the amount of money that is readily available for immediate use. You can have them in multiple currencies and they do not accrue yield. A Savings balance refers to funds you've set aside for future needs. You can have them in multiple currencies, they accrue yield📈, and how much they do depends on the asset.
Both types of balances can be opened and maintained free of charge.
Let's look at how to open a Spendable balance.
1. Tap on the + icon next to the "Spendable balances" tag to open a new balance.
2. Choose the currency of your new Spendable balance.
3. Finally, create your new Spendable balance.
You can create an unfunded balance, for future income in that new currency, or use existing funds in another currency to fund the new balance at the time of creation.
In the picture below, existing dollars are used to create a new balance in Argentine pesos.
