FinTech: Balance Money, A Fintech, Launches Digital Banking

September 2, 2022 | FinTech, News

The service is aimed at the nearly 100 million Millennials and GenZ’rs living in the US.

Fintech company Balance Money has debuted a new digital banking service that also provides real-time spend management, thereby providing the additional benefit of budgeting and financial discipline alongside banking functions. Said to be a solution ideal for Millennials and GenZ’rs, it automatically calculates in real time what amount is safe to spend, saving them the “mental gymnastics’ of working it out by checking their bank account each time. (CISION PR NEWSWIRE)

Balance Money: Digital “Envelope Budgeting”

The Balance Money Autopilot feature automatically divides the incoming paycheck into amounts earmarked for specific purposes including bills, savings and budgeted spending.

In a blog the fintech has suggested “budget buckets ” for a person embarking on a budgeting exercise. These include house and utilities; transportation; food; insurance; savings and retirement; debt; personal care; healthcare; entertainment; and giving.

This method encourages financial discipline aligned with the individual’s lifestyle.

Balance Money has positioned itself at the intersection of budgeting and banking, and the latter includes services such as Fee-Free ATMs, check deposit and savings accounts.

Related Story: With The Plum Card, Users Can Set Their Budgets And Spending Limits

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