Basically it’s like a weekly chama where your account gets debited every Wednesday. (I think there are monthly options too) The money is put in a term deposit account and it matures depending on how long you want the goal to be, mine was 3 months to test it out.
They have an option to cancel the goal and access your money if you want out.
This is really helpful because I kind of save X-amount weekly, and by the end of my goal I have a little kitty to do what I like.
I’m waiting for my 3 month to mature in a few weeks, then see. I want to discipline myself and treat it as if I’m repaying a loan and hopefully avoid interest rates.