Eight more finance apps
Enables you to set up an Isa from your phone in just a few minutes. There are various options for determining your monthly deposit, but the most unique is that the app will round up any purchases made from your linked bank account to the nearest pound and deposit the difference in your Isa. You can also select the level of risk to which you would like to expose your investment.
Another saving app. Once linked to your bank account, the app’s algorithm will learn how much you can afford to save each month. Your initial interest rate is 0%; this increases by a percentage point for each person you refer who also signs up (to a maximum of five).
Do you have a wallet stuffed with plastic? This service enables you to merge them all into one Curve card, then select which account to debit from your smartphone on a use-by-use basis. Features low fees on overseas transactions and also allows business users to sync with accounting app Xero.
Like Chip, this app employs an algorithm to learn how much you can save. It invests your money in RateSetter, a peer-to-peer lender. The nature of peer-to-peer lending means the interest you receive may vary from the average rate of 3%. Communication with the service is conducted through Facebook Messenger.
Offers a full-featured mobile-only current account with overdrafts, direct debits and so on. Additional features include zero ATM fees abroad, the ability to analyse your spending by sector (eating out, for instance) or merchant (Pret a Manger), and the option to create “goals” to save for a specific purpose. Protected by the Financial Services Compensation Scheme’s £85,000 savings guarantee.
Currently in beta stage, this app and website describes itself as “your money platform” – you can feed in data from all your various accounts, cards and investments to keep track of them in one place. The app will then make suggestions for financial products and services it thinks will interest you.
Currently a Mastercard only available to the startup’s 11,000 “founders”. But Tandem recently acquired Harrods Bank and, if the deal is confirmed by the banking authorities, it will gain a licence to offer current accounts to all. Tandem also plans to offer account aggregation and money-saving recommendations generated by algorithms.
In 2015, Atom was the first digital-only bank to be granted a licence by the Bank of England. Offers savings accounts and mortgages through brokers, has plans to offer current accounts in 2018.