Lloyds online money manager

anna42hmr

has any one got it yet, i know its been rolled out gradually from today and you advise your interested in it, just wondered what its like as was considering using it, it looks ok from the demo, but its not been downloaded onto my online banking as yet

but from what i can see looks good on the demo on here: http://www.lloydstsb.com/internet_banking/money_manager.asp

Milarky

Terms and Conditions

anna42hmr

has anyone got it/started using it yet?

mine appears to have been loaded now, but very very slow, especially when adding categories etc

missile

I have registered and been accepted, but I have not received any other info.

anna42hmr

missile wrote: »

I have registered and been accepted, but I have not received any other info.

i spoke to someone in branch the otherday when i was in there and she said they are adding them gradually over a couple of months, so may be that i am one of the earlier ones to get it.

Tupperware_Queen

I've received an email to tell me I'll be in the first wave, not had anything further

ChiefGrasscutter

Unless you have ALL your finances and in particular your credit cards with Lloyds bank I can't see how its going to work.
It's only going to be able to categorise expenditures leaving your lloyds accounts as individual items. A credit card payment say to egg which might be for various different categories (petrol, food, clothes for example) could not be correctly allocated.
Likewise you might buy lots of some things with cash, but all that the bank knows is a list of cashpoint withdrawals - it has no way of categorising the withdrawls.

Actually its not unlike the various money manager programs such as the defunct quicken (which I use)...unless you enter up EVERYTHING it becomes worse than useless.

Perhaps that's the idea, lloyds want you to move all your stuff to them...then they can get an even better idea of your finances..which will enable them to categorise their customers even more finely and then cross sell even more products to those customers.

anna42hmr

ChiefGrasscutter wrote: »

Unless you have ALL your finances and in particular your credit cards with Lloyds bank I can't see how its going to work.
It's only going to be able to categorise expenditures leaving your lloyds accounts as individual items. A credit card payment say to egg which might be for various different categories (petrol, food, clothes for example) could not be correctly allocated.
Likewise you might buy lots of some things with cash, but all that the bank knows is a list of cashpoint withdrawals - it has no way of categorising the withdrawls.

Actually its not unlike the various money manager programs such as the defunct quicken (which I use)...unless you enter up EVERYTHING it becomes worse than useless.

Perhaps that's the idea, lloyds want you to move all your stuff to them...then they can get an even better idea of your finances..which will enable them to categorise their customers even more finely and then cross sell even more products to those customers.

i get what you are saying, but as for credit cards, it does categorise your payments to a credit card company (or mine have as on direct debit) so can still see how much is going in and out your current account etc, whilst i understand what you are saying that doesnt know individual transactions on other credit cards.

It does categorise items on its own credit cards though.

One thing i am surprised at is that it doesnt recognise and categorise its own interest paid as interest though, i had to update it so the transactions that were interest for my vantage accounts and savings accounts i have were categorised as interest. It is still new yet though so they could update/amend etc

I do like the fact it automatically picked up and categorised transactions such as phone bills (undere telephone/internet/tv), certain shops (ie a purchase at boots as personal care) and insurance ie my pet insurance automatically was categorised under animal/pet etc

[Deleted User]

branch i heard the earlier you registered the earlier you will receive it

chris91_2

I have it set up, not as good as i was hoping, keeps breaking and logs me out...

lpgm

ChiefGrasscutter wrote: »

Perhaps that's the idea, lloyds want you to move all your stuff to them...then they can get an even better idea of your finances..which will enable them to categorise their customers even more finely and then cross sell even more products to those customers.

That's exactly right. I'm not planning to use it. They know enough about me already, and I don't want to face all that extra marketing.