TD Bank Launches ‘MySpend’ App for Real-Time Money Management [u]

TD Bank has announced a new app called TD MySpend, the financial institution’s real-time money management tool for smartphones, set to be a companion app to TD for iPhone or Android.

The app allows customers to easily track their spending habits with real-time notifications on credit card and debit transactions. The Android app launches today, while the iOS version will be “coming soon”, along with an update to TD for iPhone.

Colleen Johnston, Group Head Direct Channels, Technology, Marketing and Real Estate, TD, said in a statement “With daily living costs on the rise, our customers are looking for ways to better manage their spending,” adding “We developed the TD MySpend app to do just that – simple, easy and effortless – it tracks spending from eligible TD bank accounts and TD credit card accounts instantly to help enable customers to make more informed choices that align to their financial goals.”

TD MySpend securely connects to your TD bank accounts and credit cards to track your spending, utilizing traffic-light coloured indicators as part of the Spending Insights meter, to inform you whether you’re spending above, at or below your typical monthly habits.

The app also categorizes roughly a year’s worth of transaction history from your accounts, to see where your money is going. Also, the app features a Money Path feature which provides monthly spending trends for insight.

The app’s features sound familiar to Mint, but this direct connection for TD Bank customers looks like a better implementation.

Back in January, we first told you how TD MySpend was being tested internally at the bank, but now it’s out, as expected. The iOS version of the app should be out soon, stay tuned.

Update: When we asked TD Bank when exactly the iOS app would be out, a representative responded via email there was “no exact date” yet, but it should be soon.