In 2023, keeping track of our personal finances and financial investments is going to be even easier thanks to the rise of multiple free digital finance apps. In England, five of the most used free finance apps are Google Wallet, Monzo Bank, Revolut, PayPal and HMRC. Let’s take a look at each one in more detail.
Google Wallet is Google's online wallet service, which allows users to easily send, receive and store money. It also enables users to connect their cards and bank accounts to send, request, and receive money from any device without having to physically enter their banking details.
Monzo Bank is the UK's biggest digital-only bank and it's tailored to help people save and budget within the app. Monzo offers competitive interest rates on savings products, clear breakdowns of spending, built-in budgeting tools and reminders to set up automatic payments. Plus, its security features provide customers with round-the-clock peace of mind that their money is safe.
Revolut is a personal finance app designed to revolutionise how people manage their money. It enables customers to track their spending and make money transfers in local currencies and foreign currencies. It also provides users with access to cryptocurrency options and a savings section to help people save and build financial resilience.
PayPal is the world’s leading digital payment solution. It offers customers a secure way to pay online using their bank cards or bank accounts and it’s accepted at millions of online and physical stores. PayPal also includes multiple additional features such as a credit and debit card option, money transfer services supporting transactions in dozens of currencies, and a built-in wallet for storing and spending money.
HMRC is the UK’s tax department and it provides customers with an official app that contains multiple features to help people manage their finances. It allows users to track payments and set up direct debits, see their income tax, VAT and National Insurance records, and file their tax returns.
