Suppose you receive an income or salary to your on-ledger account several times a month. Each time you receive funds above a certain threshold you may wish to move a predefined percentage to a savings account where you will not accidentally spend them. The savings hook does exactly this.
Hook setup options
Savings account
To which account send the savings
Percentage
Percentage to save from transactions
Threshold
XRP amount threshold to trigger savings
In/Out/Both
Trigger in incoming, outgoing or both
More Hooks
Blocklist
Filter outgoing and incoming payments against a known list of scam accounts.
Firewall
Select which type of transactions you allow into and out of your account.
Direct Debit
Allow trusted third parties to pull funds from your account up to a limit you set.
Payment Watchdog
Get notified before sending high value transactions out of your account