iPhone App Review by TheiPhoneAppReview.com
Saving money is tough. Whether you make a lot or a little, your financial habits can get in the way of putting aside earnings. If you’ve ever wanted an easy way to save in a “Set it and forget it!” kind of way, this is the perfect app for you!
SavedPlus, developed by SavedPlus Inc., is a great way to save a small percentage of every purchase you make. The app automatically deposits funds into your savings account whenever you complete a transaction, making the task of saving money almost effortless.
Concept and Functionality:
The whole idea of SavedPlus is to automatically transfer a certain percentage of your account withdrawals to your savings account. This is done passively once you set the app up, and the intent is so that you’re setting aside a finite amount of money gradually. Many people believe they can’t save money because they have to set aside a large amount every week or month, and SavedPlus helps to show users how untrue this belief is.
To use the app correctly, you need to create an account and enter your credit card or bank account information. This is something that threw me off a bit because I don’t understand why you’d need to enter your login info AND manually enter account numbers. Plus, if your bank supports two-step authentication (security questions), then SavedPlus doesn’t have a way to log in. However, SavedPlus was able to connect to my bank account and display my balance once I signed into my SavedPlus account again.
Once you have a withdrawal account and savings account setup in the SavedPlus, you can choose what percentage of each transaction you’d like to be transferred to your savings account. This ranges anywhere from 5% to 20%. You can also set a limit on the maximum transaction amount that this percentage can be applied to, such as amounts less than or equal to $100. Just to be clear, you’re not sending anything to SavedPlus. Instead, the app acts as a middleman by passively transferring money to your savings account.
All of us know of something we wish we had the money for. Whether it’s a new gadget, book, or even a vacation, it’s tough to set money aside for a specific item. SavedPlus helps you by allowing you to create item-specific goals that you’d like to save money for. You can choose from a very detailed list of goals or set your own. Once you’ve created it, you can see how much money you’ve saved for your goal and even an estimated time as to when you’ll achieve it.
Another thing about SavedPlus that surprised me is that the number of supported banks is incredible. I can almost guarantee you’ll find your financial institution in the bank selection menu. However, the list isn’t alphabetized. Therefore, I definitely recommend using the search bar to find your bank quickly and easily.
SavedPlus can be downloaded from the App Store for free. While it might be worth its weight in savings, I’m still a little skeptical about the security of the app. While it seems like every bank one can think of is supported, it doesn’t seem like the app is actually customized to suit each individual bank. As always, your mileage may vary. If you do encounter a problem, be sure to send an email to the developer so they can hopefully remedy it.
SavedPlus is compatible with iPhone, iPod touch and iPad. Requires iOS 4.3 or later. A small expedite fee was paid by the developer to speed up the publication of this review.
The iPhone App Review’s rating:
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