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Help with Budgets

Why are transactions from one or more of my accounts not showing in my budgets?

Your budgets will be managed based on transactions on all of your personal current accounts that you opted to include in Spending when you set up this feature in your mobile app. If transactions from one or more accounts are missing, then you may have opted not to include the account(s).

You can amend which accounts are included at any time in the settings section from the Spending tab, and selecting 'choose accounts'.

Transactions from business accounts, savings accounts, credit cards and accounts with other banks are not currently included within this feature, though we are working to update this in the future.

What is Budgets feature?

Using Budgets

Can I set up alerts to notify me how I am doing against the budgets that I have set?

We do not currently send alerts to give you progress updates against your budgets, but you can monitor your performance against your budgets quickly and easily by selecting the Spending tab within your app, where you will see your progress against the budgets you have set. We also provide you with insights on the Newsfeed tab, which will let you know if you are on track with or getting close to your budgets.

We are working on adding alerts in the future.

How do I set more than one budget within a single category?

You can set a maximum of one budget per category, giving you a monthly goal to monitor in this area. You can amend this budget at any point.

How do I set a budget for a time period longer or shorter than a month?

Budgets are set to run monthly, in line with most of our customers' usual spending period. Feedback has told us this is how most customers find it easiest to budget their spending between paydays. You can always check your progress against your budgets at any point throughout the month, using your Newsfeed or Budgets tabs, as often or as little as suits you best. You can also amend the date of the month on which this rolling period will begin to suit your needs.

How is the average spend figure that I see when I set a budget calculated?

The average spend that you see when setting a budget is calculated using your personal monthly spend in that category over the last three months. For joint accounts, this will take into account transactions on both of your cards. This three month average is displayed as your default budget amount, to help you consider what budget amount you would like to set.

You can view the specific transactions that have been used to make this calculation in more detail from your Categories tab.

How do I amend my average monthly spend?

You will be unable to amend the average spend figure you are shown when setting a budget, as the amount displayed has been calculated based on your own spending over the last three months in that category.

This average amount will change each month based on your own spending, and how you have categorised your transactions. If you would prefer for any of your historic transactions to be excluded from this calculation, you can recategorise them at any point from the Categories tab.

If I have the mobile app on more than one device, will my budgets show on both?

Yes, if you have the mobile app on multiple devices, your set budgets will be available to view and track on all of your devices.

Can the bank view, create, amend or delete a budget on my behalf?

The budgets you set are for your personal use and monitoring only, and staff members will not have access to set up, view, edit or delete this information.

You will need to make any desired changes to your budgets yourself using your mobile app. You can do this from the Spending tab within your mobile app, and by tapping on Budgets from the submenu that appears, and completing the relevant steps to create, amend or delete your budgets as required.

Will setting a budget (and how I perform against it) affect my credit rating?

The budgets you set within the mobile app are for your personal use and monitoring only. Setting a budget (and how you perform against it) will not affect your ability to obtain credit.

What if I need advice on what to do with the money I have saved by being under budget?

If you come in under budget and have surplus funds in your bank account, we cannot advise you what to do with these funds. Please contact us to arrange a Financial Health Check if you feel that you need help with your finances.