Spendee App Review

Spendee App Review

Written by Lisa Rennie
Fact-checked by Caitlin Wood
Last Updated August 13, 2021

If you’ve ever wondered where your money goes every time to check in on your bank account, you might need a little help with your spending and money management. Luckily, that doesn’t always require the help of a professional financial advisor. Sometimes all you need is a simple tool to help you keep your finances on track.

Spendee is a budgeting app that promises to help you keep tabs on your spending habits and make the necessary changes to improve your financial situation. That way, you’re never in the dreaded position of wondering where all your money went at the end of any given month. 

Spendee was developed by a group of people who believe that managing your money should not have to use up much of your time or effort. Instead, with an app that you can access right from your mobile device, you can get an overview of what your money has been doing in terms of how much you spend and what you spend your money on. Your expenses will automatically be synced to help you track your money. From there, you can make certain tweaks to your behaviour to keep your finances in check.

Let’s take a closer look at Spendee to help you determine whether or not this budgeting app is right for you. 

Spendee App Benefits And Features

There are plenty of reasons why you might want to add Spendee to your mobile device to help you budget more effectively:

  • Combine different shared wallets. If you’ve currently got multiple bank accounts, you can add them all to your Spendee account. That means you can also add your family members’ accounts to give you a cumulative report of all household accounts.
  • Set alerts. To help ensure that you do not exceed your budget, you can set up alerts that will notify you when you’ve gone over.
  • Convenient financial portal. All your financial information can be streamlined and housed under one convenient app. 
  • Utility bill tracker. Keep track of your utility bills and never miss a payment. 
  • Multiple currencies recognized. In addition to Canadian dollars, the Spendee app also accommodates other currencies, which can come in handy when travelling so you don’t always have to use currency converters to determine what you have left to spend while vacationing.

Cost Of Using The Spendee App

Spendee offers different plan options, including a free one:

  • Spendee Basic: Free
  • Spendee Plus: $14.99/year
  • Spendee Premium: $22.99/year

You’ll have access to more features with both the Plus and Premium packages as follows:

FeatureSpendee BasicSpendee PlusSpendee Premium
Sync bank accountsNoNoYes
Automatic categorizationNoNoYes
Number of cash wallets1UnlimitedUnlimited
Number of budgets1UnlimitedUnlimited
Shared walletsNoYesYes
Import transactionsYesYesYes

How To Create A Spendee Account

Signing up for Spendee is easy. Simply follow these steps:

  1. Download the Spendee app.
  2. Sign up for an account either with your email address or via Google, Facebook, or Apple.
  3. Connect your bank account to the app.

All of your past transactions will be imported so you can see what your spending habits have been like right away. Plus, Spendee will be able to import and categorize all your transactions each time you receive money into your account or pay by credit or debit card. If you pay by cash, you’ll need to import your transactions manually. 

FAQs About The Spendee App

Is Spendee available in Canada?

Yes, Spendee is available to Canadians and can be downloaded on the App Store or Google Play. 

Which banks are applicable with Spendee in Canada?

The following financial institutions are supported by Spendee:
  • American Express 
  • CIBC
  • Desjardins 
  • RBC
  • Scotiabank 
  • Simplii Financial 
  • TD 

Is Spendee safe to use?

Yes, Spendee uses the same encryption as banks to ensure all personal information is kept safe. Users can also add more security by setting up a 4-digit password.

Final Thoughts

If budgeting isn’t your strong point, consider using an app like Spendee that you can quickly and easily access from your smartphone. It’s free to use if you go with the Basic plan and can help keep your spending habits in check, which can go a long way in maintaining a strong financial profile and even building wealth over time.

Lisa has been working as a writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same. She's used a variety of financial tools over the years and is currently growing her money with Wealthsimple, while stashing some capital in a liquid high-interest savings account so that she always has a financial cushion to fall back on. She's also been avidly using her Aeroplan TD credit card to collect as many Aeroplan points as possible to put towards her travels!

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