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Nedbank announces the launch of Personal Money Manager

03 June 2009 Nedbank

Nedbank helps clients to take control of their finances with innovative financial software tool.

In the current economic environment where consumers are urged to better manage their finances, Nedbank has launched an innovative financial tool that will practically allow its clients to take control of their money and know where every cent goes.

A first in the market, the software which is valued at R499, will be made freely available to Nedbank clients with current and savings accounts, who make use of internet banking. Nedbank’s Personal Money Manager is a new financial software tool that can be safely and easily downloaded from Nedbank’s website and installed on the client’s personal computer. It’s easy to use and enables clients to analyse and track transactions on their bank statements which are downloaded through internet banking. By tracking the income, expenditure and fees, Nedbank’s Personal Money Manager provides transparency by illustrating where money is being spent, thus assisting on finding ways to save money where it counts the most.

With the Personal Money Manager, clients are able to do the following:

  • Group, sort and view their transactions to determine the amounts and percentage of money spent on items such as groceries, fuel, bank fees, entertainment, insurance etc
  • Track income and expenditure monthly to manage their account and budget effectively
  • Customise budgets by tracking actual expenditure against a planned budget and identify areas where spending can be adjusted
  • Create graphs which provides a different view of transactions that is easy to understand while identifying trends in expenses
  • Create personalised financial records with the reporting tool which makes generating an income statement easy.
  • Develop a plan to pay off debt quicker, reduce their monthly instalment and release disposable income. The debt repayment calculator enables client’s to calculate interest amounts accrued on short and long terms debt, and work out the saving if one was to pay in a little extra each month.

According to Bryan McLachlan, Head of Transactional Products at Nedbank, the bank is about more than just offering products. “We realise the importance of providing added value that will enhance our client’s banking experience and assist them with their personal financial growth and fitness. We have the client’s best interests at heart as we want them to realise their highest financial potential. This practical tool offering will enable and empower clients to plan their finances, pay off debt quicker, save money and make informed decision; therefore putting them well on track to a healthy financial future at no cost to them ,” says McLachlan.

As the software is saved on the client’s personal computer there is no need to be online to access the functions, which saves telecommunication costs.


How do client’s find out more about Personal Money Manager?

To find out more about Nedbank’s Personal Money Manager and download this software free of charge, go to http://www.nedbank.co.za/ and click on the link on our home page.

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