Banknaked

About Banknaked

Banknaked is a revolutionary financial tool designed to expose the hidden banking fees that cost the average consumer over €250 each year. By utilizing secure Open Banking technology, Banknaked connects to your bank account to provide a clear, detailed breakdown of monthly charges, transaction fees, and those elusive "miscellaneous" costs that banks typically keep under wraps. The platform prioritizes user privacy with read-only access, ensuring that no money is moved and that your data is encrypted and easily deletable. In just minutes, users are able to see their total banking fees, receive explanations in plain language, and gain an annualized projection of these charges. Furthermore, Banknaked suggests cheaper account alternatives based on actual usage, empowering you to negotiate, switch, or eliminate unnecessary features. Start for free and upgrade when you're ready to dive deeper into your finances. It's time to take control of your money and understand where it really goes.

Features of Banknaked

Automatic Fee Detection

Banknaked's cutting-edge algorithms automatically sift through your banking statements to identify various fees that might otherwise go unnoticed. This feature detects monthly charges, foreign exchange markups, and transaction fees, giving you a comprehensive view of your banking costs.

Visual Dashboard

The visual dashboard provides users with clear and engaging visualizations of their total banking costs. This feature breaks down expenses into easily digestible components, allowing for quick understanding and better financial decisions. You can see exactly where your money is going at a glance.

Personalized Recommendations

Banknaked goes beyond just identifying fees by offering personalized recommendations tailored to your banking habits. Based on your actual usage, it suggests alternative banking options that could save you significant amounts of money, making it easier to switch or negotiate with your current bank.

Secure & Private

User privacy is paramount at Banknaked. The platform employs bank-level encryption to protect your data, ensuring that it is processed securely and stored only for as long as necessary. With GDPR compliance and read-only access, you can trust that your financial information is safe.

Use Cases of Banknaked

Identify Hidden Fees

With Banknaked, users can quickly uncover hidden fees that they may not even be aware of. By analyzing your bank statements, the platform reveals unnecessary charges, helping you save money and make informed decisions about your banking.

Annual Financial Planning

Banknaked allows users to project their annual banking fees, making it easier to budget for the year ahead. By understanding how much you are spending on banking, you can allocate funds more effectively and avoid unwanted surprises.

Switching Banks

If you're considering switching banks, Banknaked provides personalized recommendations for better alternatives based on your actual usage. This feature empowers you to make a move that could save you money and enhance your banking experience.

Fee Negotiation

Banknaked equips users with the information needed to negotiate better terms with their current bank. By having a clear understanding of all the fees you are paying, you can approach your bank with confidence and potentially lower your costs.

Frequently Asked Questions

How does Banknaked ensure my data is secure?

Banknaked uses bank-level encryption to protect your data and complies with GDPR regulations. The platform only has read-only access to your bank account, meaning it cannot move money or make transactions.

How quickly can I see my banking fees?

Setting up Banknaked is quick and straightforward, taking less than 2 minutes to connect your bank account. Once connected, you will be able to view your banking fees almost immediately.

What types of fees can Banknaked identify?

Banknaked automatically detects various types of fees, including monthly account fees, foreign exchange fees, ATM withdrawal fees, and wire transfer fees, providing a comprehensive breakdown of your banking costs.

Is there a cost to use Banknaked?

Banknaked offers a free initial setup, allowing users to uncover hidden fees without any financial commitment. You can choose to upgrade for deeper insights and additional features when you are ready.