Snoop app review: Is it safe and what are the benefits?

Looking for help monitoring your finances, plus receiving tips on saving money? Then look at this Snoop review to see how this handy app works and why it will help you get your financial life in order.

10-second Snoop app review

The Snoop app is incredibly easy to use and requires little in the way of setting up. It’s great for monitoring your finances and provides useful tips for budgeting and saving money. You will find a lot of these features elsewhere in other budgeting apps, but the free version of Snoop is certainly worth considering. The paid version (Snoop Plus), not so much.

Snoop

I have to admit that I’m slightly unusual. Not in an odd way (at least I hope), but when it comes to managing my money. I have 24 finance apps on my phone and I use most of them regularly. That means I feel that I have most of my money issues covered. So when I saw there was yet another finance app available, I managed to contain my excitement. Although, why not take a look best personal finance and budgeting apps?

However, I’ll try (almost) anything once and agreed to give the Snoop app a go.

Before starting my Snoop app review, I have to question the name. To me, I have fairly negative thoughts about the word snoop. And over the last few years, there seem to have been plenty of incidences where companies have been using apps to snoop on us. I’m unsure what their thinking was behind the name, but I’m willing to overlook it.

What is the Snoop app?

Snoop is an app available on Android and Apple that allows you to keep a better eye on your finances and gives you tips on how you could save money.

Taken from their website:    Snoop’s a new kind of app, designed to save you money. Snoop connects to your bank accounts and credit cards, showing you how to save money at the places you already spend.

In late 2021, Snoop also added the ability for users to check their finances online without the app. That means you can also log in to your account from a desktop, laptop or tablet.

Snoop belongs to Usnoop Limited, a British company based in London and incorporated in January 2019.

Does the app cost?

There are two versions of Snoop. The basic app is completely free to use. But if you want some added features to take your finances a step further, you might want to take out the subscription service Snoop Plus. More on that below.

So, how does Snoop make money?

Snoop Plus is only a small part of the app, so it’s important to establish how Snoop makes money from the free service. They sell data relating to your spending habits which identify trends to companies. It may sound slightly scary, but this data shouldn’t be identifiable to you.

Snoop will also recommend products to you that should save you money. Of course, Snoop may receive a commission from the company you sign up for.

Is Snoop safe?

So, one of your first questions will probably be whether the Snoop app is safe. They are regulated by the Financial Conduct Authority and registered with the Information Commissioner’s Office.

Snoop uses something called Open Banking, which allows customers to track their spending and accounts across multiple providers, all from one place. Currently, there are over 2 million customers taking advantage of this technology. When connecting to your bank, Snoop uses 256-bit encryption and never sees or stores your login details.

Snoop does not have the authorisation (or ability) to move any money from your accounts.

Which banks does the Snoop app work with?

A gripe I have with many personal finance apps is that they don’t work with all banks. But Snoop has most of them covered:

1. Barclays (Personal Banking)
2. HSBC (Personal Banking – Current Accounts)
3. Lloyds (Personal Banking)
4. NatWest
5. RBS
6. Monzo
7. Nationwide
8. Santander
9. Ulster Bank
10. Capital One
11. Tesco Bank
12. Bank of Ireland
13. Revolut
14. TSB
15. Barclaycard
16. Bank of Scotland (Personal Banking)
17. MBNA
18. Danske (Personal Banking)
19. First Direct (Current Accounts)
20. Halifax
21. M&S Bank (Current Accounts)
22. Clydesdale Bank 
23. Yorkshire Bank 
24. Cahoot 
25. Virgin Money Credit Cards and Savings Accounts
26. Virgin Money Current Accounts 
27. B 
28. American Express 
29. One Account 
30. Virgin One Account 
31. NatWest One Account 
32. Starling 

The following accounts should be available in the next few weeks (Although Snoop has been saying that for a few months):

1. American Express
2. Starling

How does Snoop work?

You need to link Snoop to your current account to get started. Simply click on your chosen account through the Snoop app, and log in as you usually do. If you already have your bank’s app on your phone, this shouldn’t take more than 30 seconds. Then, you will need to grant permission to Snoop.

Once done, Snoop starts working away in the background and analysing your transactions. The app will then start sending you ‘Snoops’. These little snippets offer you advice about all your finances and you’ll be pleased to hear that it isn’t all about selling you services.

For example, Snoop saw that I had been investing with Nutmeg over the last year and linked to a recent article about the coronavirus and how it had hit the stock markets. Snoop also saw that I had shopped in Boots and showed me how to get a £25 eye test for free. Other Snoops included how, as a Sky Mobile customer, I could stream Sky TV for free to my phone.

Overall, there seems to be quite a mixture of personalised and generic Snoops.

And you’re not restricted to linking just one current account, you can add as many as you like.

One of the most useful additions has been the Snoop ‘card checker’. This handy feature will look at your credit card spending to see if you’re spending too much on interest and fees and whether some rewards are available.

Payment Hub

This is described as a ‘one-stop shop to help you manage and save money on all your bills’.

The payment hub gives you

• Insights and information about how much you spend, how often, what’s increased and decreased and your next expected payments.
• Link your payments so Snoop knows what you’re paying for. For example, you can tell the app if the money going out of your account is for broadband or your mobile phone. This will allow Snoop to search for better deals at the right time.
• Manage your contract end dates – usually, when a contract ends, you will find that your payments will increase. Let Snoop know the end dates; the app can remind you and search for alternative deals.

Any downsides?

It can be a little misleading at times. For example, I received this Snoop:

On the menu, it told me that I had just paid £102 to Sky Mobile, which caused me to panic slightly. But when I opened the Snoop, it told me it was over the last five months. Not the best way to get information across!

Like many other financial apps, Snoop offers to find you a better energy deal. I’m never a fan of these schemes, as companies only offer them due to the generous referral fees.

When it comes to switching energy, I always recommend doing it yourself. For example, you can earn the referral fee yourself if the energy company is listed on a cashback site. Or companies like Octopus offer a generous £50 refer-a-friend fee. Take a look at my Octopus referral link.

You will need to relink your current account every 90 days. In fairness to Snoop, this isn’t their fault and is standard practice due to open banking rules.

Snoop Plus

So, this is the paid version of Snoop and will cost you £4.99/month or £31.99/year. In exchange for this subscription fee, you’ll receive

• A personalised overview of your spending – you can break down your expenditure into as many categories as you like
• Set spending targets so you can track how much you are spending and don’t go over budget
• You can sync Snoop from payday to payday rather than by calendar month
• If you’re expecting a refund, you can set up an alert so that Snoop lets you know when it arrives
• Manually add accounts that won’t automatically sync to Snoop so you can get an overall view of your wealth
• Create your own customised spending reports

But is Snoop Plus worth it? I’m going to have to go with a no. These added features you can find on other apps like Moneyhub, and their subscription won’t cost you nearly as much.

It’s a nice idea, but it needs to come down in price or add something unique.

What other people think

When writing my reviews, I always look to see what other people think of the app. Because Snoop is relatively new in terms of finance apps, there aren’t many reviews on Trustpilot. However, on the Google Play store, Snoop scores an impressive 4.4 out of 5 from well over 1,500 reviews.

My Snoop app review conclusion

So, is the Snoop app worthwhile?

There isn’t anything particularly groundbreaking on offer, but the information provided is very easy to digest – much easier than its competitors. If you lead a busy life and don’t have much time to look through your finances too often, this app could provide you with useful tips.

I’m not too impressed by Snoop Plus but hope this will develop in time. And you can try it for free for one week to see for yourself.

To find out more, click on the button below.