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What is the Budgets feature?

What are Budgets, and where do I find this feature in my mobile app?

The Budgets feature in the mobile app provides you with a quick and simple way to help you keep your spending in check. You can set budgets against each of the listed categories. This will help you track your spending throughout the month, so you can determine when you may need to reign in your spending, or when you can treat yourself.

You can find Budgets in your mobile app by selecting the Spending tab at the bottom, and then selecting Budgets from the sub menu that appears at the top. You will then be able to view and set budgets for yourself.

Using Budgets

Help with Budgets

Would I benefit from using the Budgets feature?

Anyone could benefit from trying Budgets. Why not try out this feature to help keep track of when you may need to reign in your spending, or when you can treat yourself.

How do I set a budget for a category?

From the Spending tab within the mobile app, tap Budgets from the submenu that appears, and then select the category you would like to set a budget against.

If you're setting a budget for the first time, your budget amount will prepopulate with your average spend in that category over the last three months. You can increase or decrease this amount by tapping the +/- buttons, or by overtyping it manually. Once you are happy with your budget amount, tap 'set budget'.

Do I have to set a budget against every category?

You can set budgets against as many or as few categories as you want. You can choose to set just one budget, or several, depending on what suits you best.

How do I find out how I am performing against my budgets through the month?

You can check up on your budget progress at any time. Just select the Spending tab within your mobile app, and tap on Budgets from the submenu that appears. You will then be able to view your progress against the budgets you have set.

You can also check your Newsfeed tab, where insights will be generated to let you know when you are on track or getting close to any of your budgets.

Can I set budgets for things outside of the categories that are listed in my app?

You can only set budgets in your app for the listed categories, which were selected based on feedback from our customers. You are able to recategorise any of your transactions at any time, if you would prefer them to be categorised differently.

Will my joint account holder's transactions affect the budgets I have set?

Any transactions made on a joint personal account that you have opted to include within Spending, regardless of which account holder is using the debit card, will be included in your budgets. If you wish to exclude transactions from a joint account, you can opt to remove this account from Spending using the 'choose accounts' option in the settings menu.

Alternatively, if you wish your joint account holder's transactions to be excluded, you may wish to recategorise these to remove them.

If I set a budget, will my joint account holder be able to view or amend it?

The budgets you set are for your personal use and monitoring only, and your joint account holder(s) will not have access to this information. However, your joint account holder can set their own budgets in their mobile app.

Can I set a budget for my joint account holder?

Any budgets you set are for your personal use and monitoring only, and you cannot set a budget for your joint account holder(s). However, your joint account holder can set their own budgets in their own mobile app.

Does the bank monitor how well I perform against my set budget(s)?

The budgets that you set within your app are for your personal use and monitoring only. We do not monitor your performance against your set budgets, other than to display this information to you within your app.

Can I set a budget if I don't use the mobile app?

Spending and Budgets are features that are only available in our mobile app to help you manage your finances.

Can I create, amend or delete Budgets using online, branch or telephone banking?

The features that form part of Spending, including Budgets, are only available in our mobile app. The information that you can see in your Spending tab in your app is personal to you, and only available to you. Bank staff will not have access to view or amend any of your details within Spending or Budgets.

How do I add my credit card(s), business account, savings account, or an account with another bank to Budgets?

Transactions on credit cards, savings accounts, business accounts or accounts with other banks are not currently included in Budgets. This feature is currently based on transactions on the personal current accounts registered when setting up the Spending feature in the mobile app.

We are working on adding other types of transactions into the Spending tab, and Budgets in the future.