Moneyhub app review

Will this finance assistant really give you "clarity and peace of mind" over your money?

Not enough reviews Write a review
moneyhub
Finder award badge
Intelligent budgeting tools and spending insights
Monthly or annual fee to use

Moneyhub is a budgeting app that aims to help you budget better by showing you all your accounts in one place. We think Moneyhub is good for helping you to understand your money.

It’s a personal finance assistant that uses smart technology, but it also has a human touch. You can talk to a real-life financial adviser in the app too.

We’ve highlighted the key budgeting features, explained how it works and what makes it stand out.

What is Moneyhub?

Moneyhub is part of a wave of budget apps which use Open Banking to bring all your banking information under one roof.

Unlike its competitors, Moneyhub offers a more personalised service. It doesn’t just use technology to help you budget but gives you the option of speaking with an adviser.

However, this comes at a price.

How does Moneyhub work?

Moneyhub is a subscription service, so you have to pay either a monthly or annual fee to join. It’s cheaper to sign up and pay directly in the app than getting Moneyhub through the app store. The app costs a very reasonable £14,99 a year, or you can pay a monthly subscription fee of £1.49.

Once you’ve signed up you can then connect and see any number of accounts you have. Here are its app features in more detail:

  • View accounts. Connect your current accounts, credit cards, savings accounts, mortgages, pensions and investments.
  • Categories. Smart technology automatically categorises your transactions.
  • Spending insights. Analysis shows you which categories and shops you spend most at each month.
  • Make payments. Some banks enable you to make payments to friends and family directly from the Moneyhub app
  • Goals. Set spending goals and see how much you’ve spent towards it in the app.
  • Forecast spending. This feature lets you forecast how your finances will look in the future.
  • Real life advisers. Connect to human advisers in the app, you choose whether to share your financial data with them.

Which providers can I connect to Moneyhub with?

Using open banking, you can connect with one of the financial institutions below. If your current account provider isn’t listed, you can manually add an account to the app:

  • Bank of Scotland
  • Barclays
  • Birmingham Midshires
  • Cahoot
  • Zempler
  • Cater Allen
  • Citibank
  • Co-operative Bank
  • Cynergy Bank
  • Danske Bank
  • First Direct
  • Halifax
  • HSBC
  • Handelsbanken
  • Lloyds
  • Mettle
  • Monzo
  • Nationwide
  • Natwest
  • RBS
  • Revolut
  • Sainsbury’s Bank
  • Santander
  • Starling
  • TSB
  • Ulster Bank
  • Virgin Money

How safe is Moneyhub?

You might be slightly worried about letting a third party app access your financial information. However, Moneyhub is FCA regulated and it doesn’t sell your data to third parties – hence the subscription fee.

In addition, it has bank level authentication and security and uses encryption technology. This means it doesn’t actually store any of your login details such as passwords, for instance.

It is, however, possible for some customers to make payments from their bank account from within the Moneyhub app. This can only work is your bank’s security procedures allow this function.

Moneyhub extra information

moneyhub
Product Namemoneyhub
Cancel subscription
Cost£1.49 per month or £14.99 annual fee
Spending categorisation
Spending analysis
Budgeting tool
Automatic switching service
Savings pots
Account typesCurrent accounts, Savings accounts, Credit cards, Investments, Pensions, Mortgages

Pros and cons

Pros

  • Intelligent budgeting tools and spending insights.
  • You can share financial data and speak with an adviser.
  • Doesn’t share information with third parties.

Cons

  • Monthly or annual fee to use.
  • Some may not be comfortable giving Moneyhub access to their online banking.

Customer service information for Moneyhub

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Bottom line

With its useful budgeting features and spending insights, Moneyhub could be a good option for you – but only if you’re comfortable with paying a subscription for it and, more importantly, with giving it your online banking details.

Security measures are in place in case anything goes wrong, and it never sells your data to third parties (hence the subscripton), but ultimately it’s up to you. Read our guide to digital banking to ensure you’ve researched all the available apps and accounts before making a final choice.

Get started by visiting Moneyhubs’s website and download the app. If you have read this review and the app is not for you, you can also discover more budgeting apps.

Frequently asked questions

Back to top
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Felix Thompson's headshot
Written by

Writer

Felix Thompson is a freelance writer at Finder. He covers everything from digital banking to car insurance and, whatever the topic, he aims to make it easy for consumers to get straight to the best deal. Felix has a postgraduate qualification in international journalism and is also a broadcast journalist. In his spare time, he loves to cycle. See full bio

More resources on Finder

More guides on Finder

  • Spring Budget 2024: How to boost your finances with the new changes

    How to turn tax savings announced in the Spring Budget into more than £1,000 in a year. Here are 4 ways to use national insurance savings.

  • Autumn Statement 2023: What it means for you

    Finder’s experts explain the impact of the changes your finances.

  • How to save money: 5 shortcuts

    Finder’s UK editor-in-chief shares 5 ways to save up to £423 on petrol, household bills and shopping.

  • Quirk Money review

    Interested in knowing more about your money habits? We explore the features on offer from the personality-test-based budgeting app Quirk Money.

  • What is piggy banking?

    Here’s everything you need to know to get started on this great savings technique to be smarter about your spending and savings.

  • Wallet by BudgetBakers review

    Wallet by BudgetBakers helps you organise your money and personalise budgets and goals. Finder looks at its features, pros, cons and premium options.

  • Emma app review

    Want to take better control of your finances? We explore the budgeting and saving features offered by the Emma money management app.

  • The UK’s best budgeting apps of 2024

    Saving for a holiday? A house? Retirement? Budgeting apps could help you get a hold of your finances. Compare the best budgeting apps in the UK using our table.

  • Money Dashboard review

    Is Money Dashboard the right personal finance solution for you? We explore the finance planner and all of the features of a Money Dashboard account. Read our review to get the low down on a popular budgeting app.

Go to site