moneyhub

Moneyhub app review

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

Moneyhub is a budgeting app that aims to help you budget better by showing you all your accounts in one place.

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.

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.
  • 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:

  • Barclays
  • Bank of Scotland
  • Halifax
  • HSBC
  • Lloyds
  • Monzo
  • Nationwide
  • RBS
  • Santander
  • Starling
  • Ulster

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.

Also as it’s a read only service, should your phone get stolen or hacked they won’t be able to buy anything using your Moneyhub app.

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.

Our verdict

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.

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site