What an when ready Gratification account is and why you might add one

An when ready Gratification account (often called an IG account) is a type of deposit account some banks offer that lets you move money between your main checking or savings account and the IG account on the same day, sometimes within hours. The account sits alongside your regular accounts at the same bank and uses the same login.

Banks created these accounts to let customers access funds quickly without waiting for a transfer to clear. If you need to move money between your own accounts at that bank—say, from savings to checking to cover an unexpected expense—an IG account can do it faster than a standard transfer, which might take one to three business days.

Not all banks offer IG accounts, and the ones that do may call them by different names: some use "when ready Gratification," others say "Express Transfer" or "Same-Day Transfer." The mechanics are similar across banks, but the exact steps to set one up depend on which bank you use.

Key Takeaways

  • An when ready Gratification account is a secondary deposit account at your bank that lets you move money between your own accounts on the same day instead of waiting for a standard transfer.
  • You set up an IG account through your bank's website or mobile app, usually in the account management or settings section, and link it to an existing account you already have at that bank.
  • The account itself is free to open and maintain at most banks, though some may charge a fee if you exceed a certain number of transfers per month.
  • Once the account is active, you can transfer money into it or out of it using your bank's online platform, and the money typically arrives the same day or within a few hours.

Where to find the option to add an IG account

The location of the IG account setup option varies by bank. At most banks, you will find it in the account management section of your online banking portal or mobile app, often under a heading like "Open an Account," "Add an Account," or "Account Services."

Some banks put the option directly on your dashboard after you log in. Others hide it one or two clicks deeper—look for a menu labeled "Accounts," "Products," or "Settings." If you cannot find it after checking those places, call your bank's customer service line or visit a branch in person. Not every bank offers IG accounts, so it is worth confirming your bank has them before you spend time searching.

A few banks require you to have a minimum balance in an existing account before you can open an IG account, or they may limit IG accounts to customers who have held their main account for a certain length of time. Check your bank's website or call ahead to confirm you meet any requirements.

The information your bank will ask for

When you set up an IG account, your bank will ask you to choose which of your existing accounts to link it to. This is the account the IG account will pull from and send money to. You will also need to give the account a name so you can tell it apart from your other accounts—something like "Emergency Fund" or "Travel Savings" works well.

Your bank will not ask for new personal information if you are already a customer. They already have your Social Security number, address, and identification on file. The setup process is usually just a few clicks: select the account to link, name the new IG account, and confirm.

Some banks ask you to set a transfer limit—a maximum amount you can move in or out per day or per month. This is optional at most banks, but setting one can help you avoid moving money by accident. You can usually change the limit later.

How long it takes to set up and start using

Opening an IG account takes five to ten minutes if you do it online. The account is usually active when ready after you confirm the setup, meaning you can start transferring money the same day you open it.

The first transfer into or out of the IG account may take a few hours to a full business day, depending on your bank and the time of day you initiate it. Transfers initiated before 2 p.m. on a business day often clear the same day. Transfers after 2 p.m. or on weekends may not process until the next business day.

If you set up the account in a bank branch instead of online, the process is similar in length, but the account may not be active for transfer until the next business day. Ask the banker when you will be able to use it.

How to move money into and out of your IG account

Once your IG account is active, you transfer money using your bank's online platform or mobile app. Log in, find the transfer or move money section (usually labeled "Transfer," "Move Money," or "Pay"), and select the IG account as either the source or destination.

Enter the amount you want to move and confirm. Your bank will show you when the transfer will arrive—usually same-day or next business day. The money leaves your linked account when ready and appears in the IG account within the timeframe your bank stated.

You can also move money out of the IG account back to your main account the same way. There is no limit to how many times you can transfer in a month at most banks, though a few charge a small fee if you exceed a certain number—usually five to ten transfers per month. Check your bank's terms to be sure.

Fees and account maintenance

Most banks do not charge a monthly fee to hold an IG account. The account is free to open and free to maintain as long as you keep it open.

Some banks charge a fee only if you exceed a monthly transfer limit. For example, a bank might allow five free transfers per month and charge $1 for each transfer beyond that. Others charge nothing no matter how many transfers you make. Read your bank's fee schedule or ask a banker to confirm what applies to your account.

If your IG account sits unused for a long period—usually a year or more—some banks may close it automatically. If that happens, any money in the account will be transferred back to your linked account. You can always open a new IG account if you need one later.

What to do if your bank does not offer IG accounts

If your bank does not have IG accounts, you have other options for moving money quickly between your own accounts. A standard transfer through your bank's online platform usually takes one to three business days, which is slower than an IG account but still faster than mailing a check.

Some banks offer real-time transfers through systems like the RTP network, which move money between accounts in seconds or minutes. Ask your bank whether they support real-time transfers and whether there is a fee.

If you need same-day access to funds, you could also open a savings account at a different bank and use an external transfer service, though this adds complexity and may take longer. For most people, a standard transfer through their existing bank is the simplest alternative if an IG account is not available.

Frequently Asked Questions

Can I have more than one IG account?

Most banks let you open multiple IG accounts if you want to organize your money into separate buckets—one for emergencies, one for a vacation fund, and so on. Each one links to the same main account and uses the same login. Check with your bank to confirm there is no limit on how many you can have.

What happens if I close my IG account?

When you close an IG account, any money in it transfers back to the linked account, usually within one business day. The account is then deleted and you cannot use it anymore. You can open a new one anytime if you change your mind.

Can I set up an IG account on someone else's behalf?

No. You can only open an IG account for yourself using your own login and personal information. If someone else needs an IG account, they must set it up themselves using their own bank login and account.

Is money in an IG account insured the same way as my regular savings?

Yes. An IG account is a deposit account just like your checking or savings account, so it is covered by FDIC insurance up to $250,000 per account owner at banks that carry FDIC insurance. The money is just as safe as money in any other account at that bank.

Why would I use an IG account instead of just keeping money in my checking account?

An IG account lets you keep money separate from your checking account so you are less likely to spend it by accident. You can still access it quickly if you need it, but it requires an extra step—a transfer—which gives you time to think before you move the money.