ASB’s new Track My Spending feature is great!

Disclaimer: I usually only write about code, and certainly this is not a product review blog, but this is something that really made my day. And their web pages end in .aspx so technically it is .NET related.

Yesterday, I came a forum post alerting ASB customers to check out their new Track My Spending online banking feature:

ASB Track My Money expense tracking (not mine)

The reason I’m so stoked about this feature is because I’ve been looking for a way of tracking where my day-to-day money is spent for a few months now.

I was considering moving banks to somewhere that supported OFX Direct Connect (so I can download my transaction logs automatically and sort them with a tool like GNUCash or Quicken), and I even started writing the foundations of a little WPF app to do it.

Now I can see pie charts and expense breakdowns just below the rest of my internet banking. What’s more is the transaction coding process is almost exactly the same as I had envisaged for my app — categorize one transaction, and it’ll automatically tag all similar transactions with the same label.

Coding transactions

To be honest, I never would’ve expected something like this from ASB — the rest of their online banking interface is pretty clunky and looks exactly the same as it did 6-7 years since I first became a customer. So it was a nice suprise to find this little gem hidden in the junk section of the online banking menus.

I’m not sure if other banks maybe already have features like this (probably even better ones), but I was very impressed anyway. So congratulations ASB, you guys hit the nail on the head and made one very satisfied customer at least!

4 thoughts on “ASB’s new Track My Spending feature is great!

  1. The ASB site may be “clunky” but it works. It has incredibly low downtime. I love that about it.

    In the 18 months that I was at BNZ (supporting the website, I might add), the website went down for a significant period of time at least once a fortnight, if not more. Sure it looked prettier, but give me ugly and working any day.

  2. While this is off topic for the reason I read your content, I thought I’d chime in.

    I’ve been using Quicken and the automatic update functionality since I left college (2001). Every day I spend *maybe* 3 minutes accepting each transaction from the Auto update. Banks *try* to categorize your purchases, but they cannot do splits (Interest vs Balance) and they aren’t always correct. I can also track all of my transfers between cash flow accounts and my investment accounts. I’ve been addicted to appropriate categorization of my purchases for years.

    I want to know what my Net Worth is and I set goals for my Net Worth each year (increase by x or y this year).

    It has been evolutionary, but its crazy easy and you get much more out of Quicken. If you don’t want a desktop app, Quicken has an online version, but I’m paranoid. For 3 years running I have not had a single penny unaccounted for.

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