Banknaked

About Banknaked

Banknaked is an innovative financial tool designed to unveil the hidden costs associated with banking. With the average individual unknowingly paying over €250 in unnecessary fees each year, Banknaked connects securely to your bank account using Open Banking protocols, providing a clear and concise breakdown of your monthly charges, transaction fees, and elusive miscellaneous costs. Our platform prioritizes user privacy with read-only access, meaning no money movement occurs, and your data is processed securely with encryption. By analyzing your banking habits, Banknaked not only reveals total fees but also offers plain-language explanations and annual projections of these charges. Users receive personalized recommendations for cheaper account options, empowering them to switch, negotiate, or eliminate unnecessary features. Banking transparency is at the heart of Banknaked's mission, making it easier for individuals to understand where their money really goes.

Features of Banknaked

Automatic Fee Detection

Banknaked employs advanced algorithms to automatically identify all kinds of hidden fees lurking within your bank statements. From monthly maintenance charges to foreign exchange markups, we ensure that no cost goes unnoticed, helping you to take control of your finances.

Visual Dashboard

Our user-friendly visual dashboard provides an intuitive overview of your total banking costs. Clear visualizations break down where your money is going, allowing you to quickly grasp your financial situation and make informed decisions to enhance your financial health.

Personalized Recommendations

Based on your unique banking habits, Banknaked offers tailored suggestions for alternative banking options that can significantly reduce your annual fees. By leveraging your actual usage data, we guide you toward smarter and cost-effective banking solutions.

Secure & Private Processing

Banknaked ensures that your financial data is handled with the utmost security. Our read-only access model, combined with bank-level encryption and GDPR compliance, guarantees that your personal information remains safe and is only stored for the time necessary to provide insights into your banking fees.

Use Cases of Banknaked

Identify Hidden Fees

Banknaked is perfect for anyone who suspects they are paying hidden banking fees. By connecting your bank account, you can quickly reveal unnecessary charges, allowing you to take action and save money.

Annual Fee Projection

Users can benefit from Banknaked's ability to project annual fees based on their current banking behavior. This insight empowers individuals to plan better and budget more effectively, ensuring they are not caught off guard by unexpected banking costs.

Compare Banking Options

Banknaked helps users explore alternative banking accounts that may offer better terms based on their financial habits. This feature is especially useful for those looking to switch banks or negotiate better fees with their current provider.

Financial Awareness Education

For those looking to enhance their financial literacy, Banknaked serves as an educational tool that demystifies banking fees. By understanding the breakdown of costs, users can make more informed financial decisions and avoid pitfalls in the future.

Frequently Asked Questions

How does Banknaked ensure my data security?

Banknaked uses bank-level encryption and operates under a read-only access model, ensuring that your financial data is secure and never stored longer than necessary. We are also GDPR compliant.

Can I connect multiple bank accounts to Banknaked?

Yes, Banknaked allows you to connect multiple bank accounts, enabling comprehensive fee analysis across all your banking activities for a complete financial overview.

Is there a cost to use Banknaked?

You can start using Banknaked for free, with the option to upgrade when you are ready to explore deeper insights and additional features tailored to your financial needs.

How quickly can I see my banking fees?

Setting up Banknaked is quick and easy, taking less than 2 minutes. Once connected, you can immediately access your banking fee analysis for the past 12 months.