The new app will help consumers to manage their spending on a daily basis, budget more effectively, as well as provide key insights into your financial behaviour by way of in-app notifications.
An Post Money, the financial services wing of the national post service, has newly launched Money Manager - its new smart budgeting tool.
The all new mobile app is a key element of An Post Money’s digital transformation and is part of the business’s current account offering.
Money Manager aims to give customers a deeper understanding and offers insights into their financial behaviour and can be used to manage your expenses and income from your current account, as well as all An Post products.
Downloadable from all the main app stores, Money Manager is also available to all banking customers. But more on this shortly!
Here’s everything you need to know.
How to download the app
Money Manager is available through the An Post Money mobile app which is available in both the Google Play and Apple app stores.
To use the Money Manager tool, simply click on the pie icon in the top right of the app screen.
How it works
The new Money Manager app is a smart budgeting tool that allows users to track and monitor their spending on a regular basis. It’s also the first of its kind in Ireland.
The app can be downloaded by anyone who has a current account and you don’t necessarily need an An Post Money Current Account to use it - on the money!
Appearing alongside all of the basics you would expect from a smart budgeting tool are a number of innovative features.
- Spending tracker - Money Manager splits spending into different categories, letting users see where their money is going and how their expenses are changing over time.
- Smart budgeting - It helps customers to budget smarter by creating budgets for each expense category to help them spend less and save more.
- Insights - Some of the valuable insights available include the following: Status alerts for budgets, and insights on weekly and monthly spending.
What’s nice about the smart budgeting tool in particular, but also the app in general, is that your financial information is displayed in a very simple, but visually appealing way. This makes it very clear to see exactly how much you’re spending, on what, and when.
Another useful feature provided by the new app are personalised alerts and push notifications, including alerts for overspending or irregular spending.
So, say you have a monthly budget of €100 for eating out, should you go over that amount, Money Manager will promptly let you know - handy!
One of the best features of the app however has to be the Open Banking element. Open Banking is a financial services term used to describe the electronic sharing of financial information using APIs via mobile banking applications.
In short, this allows the Money Manager app to link all of your other Irish bank accounts to the budgeting tool, giving you a much wider view and control of your finances.
In this way, Money Manager allows users to view aggregated spend analytics across all of their accounts.
And if you’re not a current account customer with An Post Money, you will still be able to open a profile on the app for free and use Money Manager to analyse your third-party current accounts, apply budgets, get updates, and so on.
The open banking facility is not yet available through Money Manager but will be in the coming weeks.
Speaking about the addition of Money Manager to An Post Money’s current account offering, Debbie Byrne, Managing Director of An Post Retail said:
With inflation at the highest rate since 2000, now more than ever, we’re all scrutinising our finances – where they are going, what we’re spending our money on and how we can save more on our outgoings.
With our new smart budgeting tool, we’re helping our customers to get their finances organised so they can take back the power over their money.
We are committed to continuous innovation and this latest addition to our product portfolio means we are taking the hard work out of organising cumbersome budgeting spreadsheets for our customers.
Compare current accounts on bonkers.ie
Are you on the lookout for another current account provider with the impending exit of Ulster and KBC?
In the meantime, why not check out some of our current account content in which we help to make the world of banking more simple.
- Read our article here comparing the best current accounts in Ireland.
- Which bank has the best mobile app? Find out in our article here, or in our recent podcast.
- Choosing a new current account? Here are eight things to consider first.
Have any questions?
Do you have any questions about An Post Money’s new Money Manager budgeting tool? We’ll be glad to answer them for you in the comments below.