CRED Money Launched: Take a Good Look at Your Money!

CRED has recently launched a new feature called ‘CRED Money’. This feature is designed to help users manage their finances by providing a unified view of balances and transactions across various bank accounts. It allows users to have better control over their financial activities and streamline their money management processes.

CRED Money integrates with multiple bank accounts, enabling users to view and track their transactions in one place. This new feature is part of CRED's broader strategy to expand its services beyond just rewarding timely credit card bill payments.

CRED Money is getting available to CRED users in a phased manner so it is possible that you will have to wait some time to get access to it. If your closed ones have access then you can ask for an invite code. I also haven't received it yet. Till then, grab some Cred Coupons! CRED Money is in the CRED App itself. 

On its launch the company said, “CRED Money makes personal financial management inspirational rather than intimidating, as a trusted, intelligent, and helpful guide towards financial progress”. Besides, it highlighted the reason for CRED Money by saying, “Nearly 7 in 10 of India’s affluent live with fragmented finances across multiple bank accounts, wallets, and UPI IDs. CRED Money eliminates the friction in financial decision-making this causes, with a unified view of balances, transactions, and patterns across bank accounts.

It helps you monitor your cash flows by examining spending patterns so that you can see exactly where your money goes. It also reminds you of recurring dues like OTT subscription, car loan, electricity bills, etc.

The CRED Money key updates feature notifies before important dues and auto-debits so that you have sufficient funds and you don’t miss out. You also get notified when dividends, interest on savings, and other forgotten transactions make an appearance.

This free financial management tool also examines your financial past and provides insightful data via graphs and charts.

CRED Money is built on RBI’s account aggregator framework which enables members to permit secure and private sharing of their bank account information between authorized organizations. Besides, Finvu, CRED’s account aggregator partner, fetches encrypted data from your banks and shares it with you.

CRED is an ISO 27001 certified organization and the first Indian fintech to receive the ISO 27701 certification, which means your data's privacy and security are safeguarded according to international standards. Thus, CRED Money is safe!

All in all CRED Money looks a promising personal finance management tool. Let's see how useful it will be once it gets available in the coming days.