Snoop Review 2024: Pros & Cons

Snoop is a comprehensive budgeting app that automatically monitors spending across various accounts, offering users insights into their financial habits and suggesting potential areas for savings.

Founded in 2019 by former Virgin CEO Jane-Anne Gadhia and ex-Managing Director John Natalizia, Snoop utilizes open banking to analyze expenditure, providing personalized recommendations for financial optimization. The app, available on iOS and Android, consolidates all accounts, facilitating easy tracking of expenses and identification of potential cost-saving opportunities.

With a focus on user personalization and regular updates powered by Artificial Intelligence (AI), Snoop aims to enhance financial management and savings.

Features Overview

Snoop provides a comprehensive set of tools and features designed to help users track their spending and potentially save money.

1. Linking Accounts:
   • Users can link multiple bank accounts and credit cards from major UK banks and providers, consolidating all financial information in one place through open banking.
2. Budgeting:
   • Snoop automatically categorizes spending, offering an overview and breakdown of spending patterns.
   • Users receive daily balance updates, eliminating the need for manual checks across multiple accounts.
   • Monthly budget creation and tracking across specific categories (e.g., groceries, travel) are supported.
   • Snoop Plus users can create custom categories and track their total net worth.
3. Managing Bills and Subscriptions:
   • Built-in comparison tool for finding deals on financial products and utilities like mobile contracts, credit cards, insurance, mortgages, broadband, loans, energy, and pensions.
   • Reminders for upcoming refund, bill, subscription payments, or contract renewals.
   • Snoop Plus users can choose to track bills month to month or payday to payday.
4. Money Saving Suggestions:
   • Periodic money-off vouchers and deals from partner retailers based on user shopping habits.
   • Alerts to potential savings on household bills, including energy, broadband, insurance, loans, mortgages, pensions, and credit cards.
   • Snoop helps users identify opportunities to switch suppliers for cost savings.
5. Bill Categories:
   • Snoop covers a wide range of bills, ensuring users can optimize costs across various categories, including energy, broadband, mobile contracts, insurance, loans, mortgages, pensions, and more.
6. Partnerships:
   • Snoop collaborates with partners to ensure users access the best deals and savings on their bills.

Cost Structure of Snoop

Free Plan:

• Features: The basic plan of Snoop is entirely free, offering most features for tracking spending and initiating savings.
• Duration: Users can use the free plan indefinitely.

Snoop Plus Plan (£3.99/month):

• Features:
  • Unlimited access to existing features.
  • Advanced features, including unlimited categories and dashboard features such as spending reports.
  • Unlimited alerts for spending and refunds.
  • Net worth tracking.
• Payment: Priced at £3.99 per month.
• Upgrade Decision: Users can decide whether to upgrade based on their usage, and Snoop will notify them if certain features require an upgrade for the current month.

Tip:

• Starting Point: It is recommended to start with the free plan to assess its suitability.
• Free Trial: Users can take advantage of a 7-day free trial for the paid plan before making a decision.

Snoop Customer Reviews

Customers express high satisfaction with Snoop, as evidenced by their reviews on various platforms:

• Trustpilot Rating: On Trustpilot , Snoop has an rating of 3.1 out of 5, based on approximately 57 reviews.
• User Feedback Highlights:
  • Positive remarks about the significant savings achieved.
  • Users appreciate the ability to find new deals for household bills.
  • Ease of use and the convenience of obtaining a complete spending overview.
  • Some users describe Snoop as a "gamechanger" and one of the best personal finance monitoring apps.
• Concerns in Negative Reviews:
  • A few users express hesitation about entering bank details due to security concerns. However, reassurance is provided regarding the safety of using Snoop.
  • A limited number of users faced issues with app stability, encountering problems like being kicked out.
• iTunes Rating: Snoop maintains a solid rating of 4.6 out of 5.0 on iTunes, based on over 3,500 reviews. Users specifically find features like 'Snoops' (short insightful tips) valuable.

The overall sentiment from customers indicates a positive experience with Snoop, particularly in terms of financial benefits and user-friendly features.

Pros of Snoop

1. Free to Use: Snoop is accessible to users without any cost, making it a budget-friendly choice for personal finance management.
2. Comprehensive Account Overview: The app allows users to consolidate information from various bank and credit card accounts, providing a unified view of their financial activity.
3. Spending Monitoring: Snoop actively monitors spending patterns and recommends potential cost-saving opportunities, contributing to better financial management.
4. Bill Savings: Snoop helps users save money on their bills by identifying areas where better deals might be available.
5. Compatibility with Major Banks: Snoop is compatible with a wide range of major banks, offering convenience for users with diverse banking relationships.
6. Account Linking: The app enables users to link multiple accounts, providing a seamless and consolidated financial overview.
7. Wasteful Spend Identification: Snoop identifies areas of wasteful spending, allowing users to make informed decisions to cut unnecessary expenses.
8. Upcoming Bill Alerts: Users receive alerts about upcoming bills, helping them stay organized and avoid missed payments.
9. Money Saving Suggestions: The app offers personalized suggestions for saving money, enhancing users' financial well-being.

Cons of Snoop

1. Premium Features Require Payment: The most advanced features are limited to the paid versions, potentially leaving free users with fewer functionalities.
2. Lack of Linked Savings Account: Snoop does not provide a linked savings account, missing an opportunity for users to easily integrate saving with their spending analysis.
3. Absence of Automated Saving Tools: Unlike some competitors, Snoop lacks automated saving tools, which may be a drawback for users seeking a more hands-off approach to savings.
4. Market Competition: The personal finance app market is saturated with similar alternatives, and some competitors offer more advanced features, possibly making Snoop face tough competition.
5. Feature Accessibility Requires Upgrade: To access the full range of features, users must upgrade to the paid versions, potentially limiting the functionalities available to free users.
6. Limited Offerings in Savings and Investments: Snoop does not provide dedicated savings or investment accounts, missing out on opportunities for users interested in such financial products.

Our Thoughts on Snoop

We are impressed with Snoop and consider it a valuable tool for managing personal finances. Here's why:

• Comprehensive Spending Overview: Snoop's ability to consolidate all spending into one place is a smart and essential feature for effective budgeting. It enables users to identify and manage various expenses, including forgotten subscriptions, contributing to potential savings.
• Game-Changing Budgeting App: Budgeting apps like Snoop are deemed game-changers in managing spending. For those seeking automated savings and investments, alternatives like Chip are worth exploring.
• Cost Savings: Snoop ensures users are on the most cost-effective deals, contributing to additional savings. The app's free version provides significant utility, and users can choose to upgrade for additional features like spending reports.
• Recommendation: We highly recommend giving Snoop a try, with a 4-star rating from us. The app's user-friendly interface and cost-saving features make it a valuable tool for anyone looking to enhance their financial management.
• Verdict: Snoop's capability to consolidate transactions, provide money-saving tips, and analyze bills for potential savings positions it as an exciting and useful app. As the app continues to evolve, it remains a promising choice for improving personal finances. Get started by downloading the app from the Snoop website.