Definitely an App we have been waiting for!!
I have been wanting this app all my life. It recorded well all my expenses without any manual input. It links with your banks and credit cards. Just you know this app is still pretty new and I am still concerning about the security and stuff. One more thing, I do not see any ads on this app. Just my two cents, How do you guys earn from this app then? 🤔
Thanks! We are thrilled to know that you are enjoying Planto :) Planto is a free app today funded by investors that believe in our mission but we will be adding features in app soon that will require users to pay for certain features. What we have in the app today, we think, is basic features that can help everyone self manage their finances well and will remain free for time to come. This is also called a freemium model.
DO NOT get this app. This app gives wrong calculations and affects my actual accounts
I downloaded this app to manage my finances better. But to my horror it gives wrong calculations and its wrong calculations affected my real accounts.
I was checking Planto to see how much I should pay for my credit card bill and I see I owed the bank around 4K. The figure didn't seem right to me so I checked my ebanking app as well. My ebanking app also showed that I owed 4K.
I doubted the amount so I checked my credit card statement. I added up all my spending by hand to only about 2K. I was about to call my bank to check for irregularities, but then realised this strange phenomenon only happened after I downloaded Planto. I immediately deleted my accounts on Planto and deleted the app. Then I checked my ebanking app to find that the amount I owed dropped back to 2K, which is the amount I calculated.
This means that not only Planto make wrong calculations, once you give them permission to your accounts it can alter the ACTUAL numbers in your real accounts. This is horrifying. This could’ve made me pay double the amount I was supposed to, and I’m not even sure where that money would go since there is no way to trace it. I sincerely hope that it is only a glitch and not a scam. Thankfully I figured it out early on.
Hi there, thank you for reaching out!
Actually what you're describing is not possible - Planto only has read-only access. It cannot make ANY changes to your accounts. To retrieve your financial data, Planto uses a method called 'screen scraping' which is used by platforms that are help millions of customers world-wide. Think of a robot that will retrieve your data, analyze it and put it in Planto in a more friendly way. This robot can only retrieve your data and is not programmed to do any transactions Read more about our security here:
Perhaps you were confused between 'statement balance' and 'total balance'? Statement balance is the amount you need to pay each month (and is delayed by 1 month, so it would be the sum of your transactions in July). The total balance is the statement balance + any transactions you had this month. Would this explain the issue you encountered?
If you have any more questions about this, please reach out to us on email@example.com or via WhatsApp on 6178 0504 :)
- The Planto Team
Auto Tracking Accounts' Spending
I love the function of connecting my bank and credit card accounts, I don’t need to manually enter each transaction, and the app will help categorising each transaction by detecting the manufacturer.
A clear interface with adequate customisations, easy to use. Insights generated are free to check which is very precious. No ads are included!
Just one little detail: it would be good if I can edit the starting date of my goals, because my goal has started before I use the app, so the data would not be accurate.
Except from this small space for improvement, everything is good!
Thanks for your suggestions! We hope to make Planto a better app for everyone :)