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Interactive Bank Statement

The interactive bank statement is an app which allows you to track your spending by providing clear and meaningful information. It can be configured to show only the information, which you find useful, in an accessible format.

You can opt to use any of the following functions:

  • Display information as text, rather than numbers, for example. ‘last Friday, you spent ten pounds in WHSmith.’
  • Print daily, weekly or monthly statements.
  • Add notes about transactions in real time to show explanation for spending e.g. ‘Box of chocolates for Kim’s birthday’
  • Display subscriptions, direct debits and standing orders including length of subscription, and date of renewal.
  • Include links to products you have bought online
  • Automatically highlight any unusual spending for example in new shops, large amounts, and repeat purchases.
  • Receive notifications of unusual activity on your bank account via text message or call.

Interactive bank statements could help you to manage your finances more easily and remain independent for longer.

Feedback questions:

1)      What do you like about this idea?

2)      Is there anything you would like more information about?

3)      Do you have any concerns about this?

4)      Is there anything missing from this service that might make it more useful?

5)      Would you, or someone you support, prefer numbers or text?

6)      How might we remind someone to add notes about a purchase?

(Note: The picture is not representative of what the final product might look like)

edited on Feb 8, 2021 by Natasha Morgan
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Morven Lean 9 months ago

Bank statements are out of place right now - I find it weird that within a really snazzy bank app you have this statement which isn't customer-facing whatsover. It's as though someone has forgotten to convert computer language to normal language that customers actually understand.

Adding the time of purchase would also be useful, rather than just the date.

When you're making online purchase and required to put in correct address/last 3 digits of card..you could also be asked at this point to enter something into a text box to explain what the purchase was for e.g. Kim's birthday card

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Jennifer Bute 9 months ago

This would help us remember what we spent the money on or why but would involve us giving that information to the bank but could be done without giving much away! It could be worth pursuing as bank statement can be meaningless without such

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Fiona Mccrea 9 months ago

Good in theory as long as these statements are kept safe

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Alice Billin 9 months ago

I really like the idea of bank statements being more useful for tracking spending and remembering what the spending was for. I like being able to add comments, and for new direct debits etc to be flagged.

I can see why an app is the most effective way to implement all these different things. But I wonder about the inclusivity of it being on an app rather than on bank statements on online banking. Can it link into this in anyway? Can it be done on a browser too? Would it be an app that you link your statement to no matter what bank it's from? Or would it be, for example, part of Santander's banking app? If part of a specific bank's app, perhaps they could also include on their online banking statements.

I also wonder if this could also be linked into other ideas such as dedicated dementia phone line so there's someone to talk to if there's something on your bank statement you don't understand.

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Peter Middleton 9 months ago

I support the idea of numerical representation rather than text "three thousand, one hundred and fifty pounds and thirty three pence" is a totally indigestible chunk of text, and if it was to be repeated over a hundred transactions, the statement would be longer than the complete works of Shakespeare!

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Sophie Lipton 9 months ago

For those who like traditional banking, this is a great idea! I especially like the idea of highlighting duplicated payments. With this one, the simpler, the better

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