Never again worry over how much of your money is available at any given moment and to where all that cash you just pulled from the ATM went– with Mint.com’s updated iPhone app, you can now track spending on-the-go. Responding to users’ top requests, Mint.com launched an update to its free, award-winning iPhone app that lets people manually enter cash transactions and pending expenses like checks or credit/debit card transactions not yet cleared. The result is greater accuracy, which lets people more closely track to budgets.
“If you’re walking around with cash, it’s easy to end up back at the ATM thinking, ‘where did it all go?’”, said Aaron Forth, General Manager of the Intuit Personal Finance Group. “At Mint, we’ve always been great at accurately tracking what’s spent on plastic, but now we’re cutting out the tedious work of sifting through receipts to ferret out where cash went, or checking online bank statements to see what checks bought, by creating an always-there mobile tool that allows immediate reconciliation.”
To make management of on-the-go spending as easy as possible, Mint.com has built geo-location capability into the app to help instantly match a transaction to a point of purchase. Users simply open the app to register recent spending, and then choose a merchant from those found nearby. The amount spent is automatically deducted from the most recent ATM withdrawal, so the cash balance is kept up to the minute.
The result is an accurate read of how much cash is in a checking account, total credit card debt, and all other account balances right in the palm of the hand. People can check both their current balances (what is in an account right now) and their available balances (which takes into account pending transactions) wherever they are – granting a more accurate view than they can get from many banks.
With the new update, Mint iPhone users can now:
- Enter spending on-the-go: When money leaves the wallet, users can tell Mint where it went in real-time, adding a new layer of clarity. Geolocation takes out the need to even find the merchant.
- See available balances across accounts: By entering all pending transactions, people know their reflected balances are accurate, so they can avoid overdrafts or other fees.
- Track budgets up to the minute: By cleanly and immediately categorizing cash spending, no purchases remain unaccounted for in people’s budgets.
The latest update adds to current mobile functionality, which lets Mint iPhone users view automatically categorized recent transactions; receive alerts on spending versus personalized budgets and cash flow, account balances, bills due and more; see investment performance, sign up for Mint and add/edit accounts; and take advantage of personalized recommendations directly from their smartphone.
Users can feel safe managing money on the go, with an application-level passcode, read-only account access, and the ability to disable iPhone access to account information at any time from the Mint.com website.
The Mint iPhone app is available for iPhone and iPod touch. Requires iOS 3.1.3 or later. For more information, visit http://www.mint.com/how-it-works/anywhere/iphone/