Who doesn’t love to travel, isn’t it? Travel at once frees you and still grounds you to the realities of the world around you. Studies have found that travel makes us healthier, happier, more productive and more open-minded.
The last thing you want to be bothered about while travelling is money. Yes, it is a paradox. We all want to get the maximum value for the money we spend while travelling, but don’t like to be constantly thinking about it during our trip. And, that’s why most of our users who love to travel love the Bank Sync feature on Wallet. Let’s find out more.
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Why Bank sync on Wallet is the perfect tool for travellers
With Bank Sync on Wallet, you can connect your bank accounts and credit cards to the app. And, all your transactions get synced with Wallet, thereby taking out the major effort in tracking. With your transactions already on Wallet, more than half your job is done. You just need to use the information that Wallet puts together for you from this data and make good money decisions.
So why is Bank Sync a favourite feature of Wallet users?
It saves you time and effort
Tracking your money is the most crucial step in bringing order to your finances. Only if you track your income and expenses will you be able to see where your money is going and identify spending patterns you may not have noticed otherwise. With Bank Sync, you can connect your bank and cards to Wallet and track all your transactions automatically. You don’t need to worry about missing out on tracking something, nor do you have to take the time to manually input your transactions. When you travel, your time is precious. So connect your bank and cards to Wallet and invest the saved time on enjoying your trip.
It gives you a clearer view of your finances
Bank Sync allows you to connect to more than 15,000 banks and cards from around the world. So it’s highly unlikely that you wouldn’t find your bank or card on Wallet. As travellers, you may not just be using a single card or account to draw funds from. As you can connect more than one account per bank, you can easily bring all your cards and accounts to one place on Wallet. Thus, you get a better, clearer picture of all your money distributed among different sources.
It categorizes your records automatically
Bank Sync not just gets all your transactions to Wallet, but it goes one step ahead and categorizes them for you as well. Every time a new transaction is imported to Wallet, it uses the notes, particulars and merchant names from your bank and automatically puts it in the best category possible.
For instance, if you shopped at Tesco, Wallet would automatically categorize the record under the Grocery or Shopping category. Of course, Wallet learns as you use it more. So if you make categorize a record differently, Wallet remembers and adapts to your preferences thanks to the machine-learning algorithms it uses. As travellers, automatic categorization again saves you a chunk of time and effort.
It helps you keep track of frauds and double counting
Very few of us check our bank statements regularly. Especially, when you’re travelling it is quite possible that you get charged for purchases twice. Or, you could even be a victim of card fraud. With your bank and cards connected to Wallet, you’ll be able to see your transactions as and when they happen, thus, making it easier to spot duplicate transactions or such suspicious activity. One of our users spotted duplicate charges in her bank account, not once, but four times, thanks to Wallet. She could get her problem fixed immediately as she spotted them soon enough.
It keeps your data protected
Bank Sync on Wallet has bank-level security and is trusted by more than 50,000 people around the world every single day. Wallet also has an ISO27001 and eTrust certifications. And, Wallet doesn’t store your credentials and it has only read-only access to your accounts. This means that Wallet cannot access your money, make any changes to your accounts or generate any transactions. And, you can add an additional layer of security to Wallet by setting up a PIN or fingerprint lock. Thus, you can travel the world peacefully knowing that your data is protected.