Safe-to-spend feature

Hi guys!

I first saw “Safe-to-Spend” as an idea from Simple, it’s their trademark. Check what they did to our friends even before launching!

Now I think Monzo uses this concept anyway somehow in a summary page as “left to spend”. I’m not sure because I’m not using Monzo (for other reasons against my will, I really love Monzo!):

I’m researching about this feature and I KNOW I’ve seen it at least a couple of other challenger banks/neobanks, but I can’t remember which ones.

Do you know which ones? Help!


Nevermind, I found them:
Qapital: “Spending sweet spot”
Pocketsmith: “Safe balance”

HSBC has ‘balance after bills’ too.

What does it count as bills?

It says:

Balance After Bills works on an HSBC current account from which you pay standing orders or Direct Debits… You can activate Balance After Bills from the account you use to pay your bills. Or, switch to pay your bills from HSBC.

I’m guessing recurring card payments (eg. Spotify and Netflix) don’t count, but although I don’t make any of these type of payments through HSBC, I’d be happy with that as I see those things as more discretional.

It looks like the feature has been rolled over from HSBC’s previous Connected Money app.

That’s very interesting! Thank you!

It goes a bit off as I think the best approach would be:

Monthly safe to spend = All fixed income (salary, etc) - all fixed outcome (bills, rent, mortgage, direct debits, etc)

It would also help to have an indicator of how well you’re behaving (spending speed or rate) E.g. if your safe to spend on day 1 is £1,000 and on day 15 you have £400 then you’re spending 20% faster than you should (at that rate you’d finished spending £1,200).

Any more banks doing something similar?