We’re excited to announce that we’re launching new, personalised money tracking features in the BNZ app to help you keep track of your spend – this is being released to customers over the coming weeks. We’d love to hear what you think – if you can’t see the ‘Activity’ tab, make sure you’ve got the latest version of the app!
It helps you keep a closer eye on where your money’s going which means you can budget and plan for the things that are important to you.
The BNZ app automatically organises your spending into categories like ‘Groceries’, ‘Pets’, ‘Transport’, and ‘Bills’. It also lets you compare up to five of those categories at once, to see where you’re spending the most (and the least).
You can also recategorise items to suit your way of doing things like changing that chocolate cake purchase from ‘Groceries’ to ‘Gifts’.
Plus, for the bigger picture, it gives you daily, weekly, and monthly views.
More features are coming soon to help you do even more with your money - keep an eye out for updates. In the meantime, let us know what you like, what you’re unsure about, and anything you’d like to see in the future.
Very excited to see this launch! It’s confronting seeing your spending in categories, love how the app filters it all for you as that is the time consuming part with other personal finance management tools. Well done to all the team involved. Can’t wait to see even more features to come.
Hey I have been Bata testing this feature its amazing!! It has helped me with my budget and savings goals soooo much!
This looks fantastic team!!
it would be great if you could remove one-offs from your spend; I made a large payments and now it looks like I’ve got massive spendthrift with a daily spend of almost NZD 300 I only go to the supermarket these days!
it seems there is a small bug where if I do the following, I get stuck:
- Go to track your spend
- Under daily/weekly/monthly, click on a specific expense
- Click the < icon to go back
- There’s now a blue bar on the top of the daily/weekly/monthly spend screen and I can’t go back - I need to close the app and restart it to get somewhere else
Is this only available on the BNZ App or will it be available on the desktop as well?
Also will it be possible to export these transaction to an excel file?
Thanks for the feedback! I’ve passed your suggestion onto the team. Good spotting on the bug - we have already fixed that so it’ll be updated in the next release!
Hi @martin_dubuisson; thanks for your questions.
As most of our digital customers are on mobile we’ve started there. While we do have plans in place to release more features in the coming months, suggestions such as the export functionality, will consider in line with what customers tell us they desire the most and areas as an organisation we’d like to focus. We’ll then weigh up whether we should be spending our time building new features or expanding Activity to internet banking.
Great to see this feature! A couple of things I’ve noticed in the first 10 mins:
- Credit card payment transactions are uncategorised (“DD PAYMENT - THANK YOU”), although this is probably beyond the scope of this feature; perhaps more to do with the way they’re displayed, with two transaction records.
- It isn’t possible to categorise all recurring transactions - I have a couple of weekly/fortnightly transactions that need to be recategorised individually.
- I’d like to assign a category to my accounts so they don’t remain in the “categorising” state.
- All income sources have the same icons, I’d like to be able to easily see what is coming in from each source with unique icons and categories.
“Compare your categories”
- The date filter is hidden below the initial window and is small/awkward to select.
- I’d like to be able to select all categories rather than be limited to 5.
- It’s very hard to tell how much spending is against a category so I spent a minute (de)selecting all options to see which actually had any spending against it. (Yes, I can see top 5 but I’d also like to see where I’m not spending much - but not nothing).
Looking forward to the release of the incoming vs. outgoing section too. Thanks!
Hey JD, thanks for the feedback! I’ll make sure that this gets to the right team!!
Hi @jd , wow such great feedback!
To answer some of your questions around categorisation:
For most transactions we’re assigning a category overnight, but this may take longer after a weekend and holiday. We know we can do better so we’re looking to move to ‘real time’ category assign later this year.
‘Pending’ transactions are a bit different because they’re still being finalised. Pending transactions are often credit card. This means we can’t assign a category until it’s final, and means you won’t be able to assign a category either. Again we’re look to resolve this when we enable real time.
As for the recurring transactions, all future transactions with the same details, we’ll remember your preference. We don’t currently have the ability to bulk re-categorise but it might be something we look to in the future.
Thanks for all the points around ‘Compare your categories’, we’ll keep cooking up new ideas and features and we encourage you to as well. Together we can make this awesome.
Appreciate you taking the time to give such detailed feedback. We’ve got a new feature coming soon called ‘Cashflow’ (we’re renaming In vs. Out) that will help show you all the money coming into your account, verses the money going out, and your flow across categories ranked so I’ll be interested to hear if that meets your need of being able to see more than 5 categories and might give a better insight to your income.
We’ve also got on our roadmap that we want to be able to add merchants logos as well but there’s quite a bit of work (including merchant permissions) to do that. Please keep sharing your thoughts - it’s super helpful for us to know whats important to customers. Whakawhetai (thanks) Jenni
Would be great if you could add the ability to assign a monthly or weekly budget to each category so then you can track spending against category budget and determine where are the areas of budget that aren’t aligning!
Hi @shazza - welcome to BNZ’s Community and thanks for providing feedback. You’ll be pleased to hear we’re working on this feature right now! If you’re interested in having a look at our designs and helping shape the experience please message me at email@example.com and we’ll see if we can arrange a catch up.
Hey - my wife has been added to this pilot, I’m very keen to as well as have wanted this functionality for a while. How can I be added please?
You will be able to access this absolutely! We ate still rolling this update out. Just keep your eye out for updates over the next couple of weeks and you will see it come though. Cheers
Looks like BNZ is doing some deep inspection of my transactions. Is this being done by BNZ or a third party?
Is this information being shared or sold to any third parties?
Hi @Garth, thanks for the question. Your data is still stored with BNZ, and it is not being shared with, or sold to a third party.
Thanks Sarah. I was hoping you might clarify if the BNZ be selling access to any of the behavioural data that is generated by this system, for advertising or other targeting.
Hi @Garth - I’m the Digital Product Owner who both built and owns this experience. I can reassure we’re not sharing any information we’re generating with any external, or third party. Nor are we collecting anything new or sharing it even internally for any purpose other than to display back to customers. Rather what we’re trying to achieve is take all the banking jargon stuff we receive (MCC codes from merchants, transaction codes) and make it more user friendly for customers to take the hard work out of having to work stuff out themselves. It’s all internal and for no wider purpose then to help people know their money better. We respect your data is yours, lets make sure you understand it.
@Garth hope this has answered your question, but if you wanted to chat more to understand what we’ve done and how we’ve done it, happy if you want to email me direct on Jenni_Ralph@bnz.co.nz