The budgeting app is closing down its consumer app from 31 October 2023.
Money Dashboard said it will be closing its Neon and Classic apps as it “could not find a sustainable business model”. Instead it will be focusing on its B2B open banking services instead.
From the end of October, it will not be possible to create any new accounts on Money Dashboard, while bank connections will be removed, and existing accounts will be closed and deleted. The services are closing for both mobile and online.
The budgeting app announced its decision on its website and on Twitter, and also sent an email to its half a million users.
Money Dashboard is a budgeting platform which uses open banking to securely connect all of your bank accounts and credit accounts so that you can see them all on one platform. It also splits your spending into categories, such as savings, bills, and shopping, and lets you set budgets for each categories. Users are notified of overspending and can also set budgeting goals.
What users need to do
A FAQ on Money Dashboard explained how the shutdown would work. It explained how users could export their data to a .csv file before 31 October – but it won’t be possible to export data after this date. There are also instructions for anyone wishing to delete their account before then.
After 31 October, all customers’ data will be deleted or fully anonymised, subject to Money Dashboard’s legal and regulatory obligations to keep personal data, including under applicable data protection requirements.
Other apps that offer similar functionality to Money Dashboard include Snoop. The app is free to use but there is also an optional upgrade product called Snoop Plus which contains a range of extra features. This normally costs £4.99 a month but Snoop is currently offering a free three-month trial of the product exclusively to Money Dashboard users.
