FAQ

moneyCapp is a simple, easy-to-use app that gives you a complete overview of and full control over your personal finances. It takes just a few minutes to get started, and then you get:

• Valuable insight into your spending habits.
• More money for the things you need, and help reaching your dreams.
• Fewer unpleasant fees and less interest.
• A life without complicated budget spreadsheets, incomprehensible advisers, creditors and expensive debt.

Once you have downloaded moneyCapp from your app store, it only takes a few minutes to get started. You decide the maximum amount you want to spend each month, and then you divide it between the envelopes Fixed expenses, Variable expenses and Leisure. You also get an envelope for the next dream goal you would like to save up for. You can keep all your money in a single account at your bank and so avoid overdrafts and fees. MoneyCapp is so easy that it only takes minutes to get started.

Once you have created your account and filled your envelopes, moneyCapp keeps track of the rest for you. At any time, you can check how much is left in your envelopes and what you have spent your money on. moneyCapp sends you a notification when an envelope is running low. If your income changes, you can change the amounts in the envelopes too. Remember: if you gather all your bank accounts into one account at your bank and give moneyCapp access to it, it is easier to avoid overdrafts.

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Security, data ethics and transparency are among our core values. We protect your data, and we would never dream of sharing it with anyone. moneyCapp is one of the few Danish fintech companies approved by the Danish Financial Supervisory Authority. This means that we are allowed to see (not touch!) the account data you give us access to. Your money stays completely safe in your bank.

We want to help you manage your budget and reach your dream goals. Like any financial adviser or accountant, we need to know a few things about your income and expenses. We want to help you understand how you spend your money, how you can get more out of your monthly budget, how you stay within your budget, and how you save up for your dreams. We don’t believe you want to spend your time filling in detailed spreadsheets. When you give us access to your bank data, keeping track of your money is easy – and actually quite fun.

We only get access to the data we need to give you the service you need.

We can see how much money is in your account, what comes in and what goes out. And just like your bank, we can see the different categories, such as groceries, insurance, petrol or restaurants.

We would never dream of giving a third party access to your account. We also recommend that you protect your account with a password that only you know and that you don’t share with anyone.

The better you understand your spending habits, the better you can make sure you have money for the things you really need – and that you can save up for the things you really want. We call it conscious spending, and it is like healthy vitamins for your budget. You can use moneyCapp for free, unlike the banks, which tend to charge all sorts of fees.

It is very common to overdraw an account every now and then – even when there is money in another account. The bank charges you interest when that happens, and all those fees add up. That is why we actually recommend that you gather all your money in one bank account and connect that account to moneyCapp. Then, if you spend a bit more on car repairs one month than you planned, you can “borrow” the money from yourself instead of from the bank. That can save you a lot of money.

Good point. We believe you will love what moneyCapp’s envelope system does for your personal finances – maybe enough to join our moneyCapp Plus programme. For a small monthly fee, you get access to more smart features that can bring order to your spending and save you even more money. You can create more personal envelopes, and you can connect more banks if you have them. Perhaps you would like an envelope just for car expenses? Or an envelope for the money you spend as a blended family? Perhaps you want to keep a close eye on how much you spend on pizza or online gaming each month. And you will probably want to create more envelopes with dream goals too.

If you choose to stay on the free version of the app, you may come across one of our partners. We will never spam you with annoying pop-ups, but you may see a sponsor shown discreetly next to a category – for example, an insurance company might sponsor the Fixed expenses category and a travel agency the Leisure category. In return, you can be sure that we never make money by sharing your data with any third party whatsoever.

Of course, we all need money to live on every month. We recommend that you prioritise your monthly expenses in the Fixed expenses envelope, and try to keep Leisure as small as possible.

Keeping a healthy budget is a bit like the opposite of going on a diet: if you want real results, you need to spend less than you earn, so you can build up your finances slowly and steadily. Once you have more money than you need for your fixed expenses each month, you can start adding more money to the Leisure envelope. And if you have debt you would like to get rid of, why not create a dream goal and set money aside for it every month? So yes – moneyCapp is for you, even when money is tight.

Fantastic – well done! We hope to get there one day too. But perhaps you would like to know more about how you spend your money? Maybe you want to limit what you spend on petrol because you care about the planet? Maybe you want to cut down on bad habits like cigarettes because you like yourself? Or maybe you want to spend less money (and less time) on online gaming because you like your partner? MoneyCapp gives you a better overview and more control – and if you have more money than you can spend, why not set a monthly dream goal and donate the money to charity?

The unique envelope system and the complete overview you get can work wonders for your personal finances, so we don’t expect you to keep it a secret. We all have a friend who can never afford to go out for dinner at the end of the month. Tell your friends to download moneyCapp and remind them to put money aside in the Leisure envelope – then there will be room for more shared experiences and restaurant visits.