My Money FAQs
What do I get with My Money from ICICI Bank?
- A predictable financial future. You'll see a day by day projection of your savings account balance after allowing for each bill to be paid, all the way to your next salary and beyond.
- Alerts about balances, transactions, and bill reminders automatically delivered to your mobile phone or email.
- Monthly budget goals for any or all of your categories.
- Charts so you can understand your spending habits. For example, you can see how much you've spent dining out or at a particular restaurant no matter which account you used to pay for it.
- Your spending automatically assigned to standard categories or to new categories you dream up. And you can train us how to categorise your way, so you'll have fewer and fewer adjustments to make as time goes by.
- An easy method to record and keep track of what you buy with your cash.
- Your choice of Windows and Macintosh browsers including Internet Explorer, Safari, and Firefox.
- The ability to download your transactions to a file. For example, if you want to create your own specialised charts and graphs, open the file in Microsoft Excel.
What doesn't My Money from ICICI Bank do?
- Import transactions - When you add your bank accounts, we gather up to 90 days worth of your previous transactions from those accounts. You can't import any transactions previous to that date, and you can't enter them manually either. We will continue to download and keep your transactions as long as you maintain your subscription to My Money from ICICI Bank.
- Subcategories - Some people really want to track things like Auto (Fuel), Auto (Repair), and Auto (Wash) as separate categories so that they can see those totals either separately or rolled up into the master category name (Auto). Again, this is a level of detail that My Money from ICICI Bank doesn't track. Our purpose is to give you a tool that is a convenient introduction to finance that helps save time and money.
- Paying bills or transferring money - You can't use My Money from ICICI Bank to transmit funds from one place to another.
- Writing cheques - You can't use My Money from ICICI Bank to write or print cheques. However, you can enter cheques you've written to see how they'll affect your balance once they clear.
- Reconciling - Reconciling is useful for matching up your paper chequebook register with the transactions on your bank statement. With My Money from ICICI Bank, you're seeing the bank transactions right on the screen. To match up your receipts with the bank transactions.
If I want to subscribe for My Money from ICICI Bank after un-subscribing from the services once, can I do so?
Yes. However, the free trial period is only applicable for a first-time subscriber. In case of subscription after the free trial, the My Money from ICICI Bank subscription fee will be applicable on immediate basis.
How is my information protected in My Money from ICICI Bank?
We certainly understand any concerns you may have about the security of your information in My Money from ICICI Bank. My Money from ICICI Bank is part of ICICI Bank's Internet Banking facility and follows the same security features as the rest of the website to ensure security of your online transactions and confidentiality of your data.
How do my transactions get categorised?
We categorise transactions based on their payees. A payee is the description for a transaction. It could be:
- The name of a store, utility, or person that you paid
- The name of a business or person who paid you
- A type of transaction, such as MONTHLY FEE
- Just the word CHEQUE or DEPOSIT
The payees from your bank often have a lot of extra text at the end. Whenever possible, we'll suggest more intuitive names and categories for common payees.
Why are some of my transactions marked "Uncategorised"?
If we don't recognise a payee, we'll ask you to assign a category yourself. We'll learn from that, too, and use that category for future transactions from that same payee.
But sometimes we can guess at the right category, so all you need to do is edit the payee if you want.
How can I link an account?
To link an account, you can click the Link an Account option available in the header of My Money. You could find your bank, credit card, loan, investment, reward, and bill accounts by using a key word or popular account searches. You can then select and add the required accounts to ICICI Bank My Money.
Will my accounts get refreshed automatically?
Yes. The online accounts linked in My Money, which do not require any additional dynamic information for Multifactor Authentication (MFA), will get refreshed automatically on a regular basis. You need to refresh the MFA accounts manually, providing the required additional authentication.
How do I provide the updated internet banking password for an account held with another financial institution?
You can change your internet banking user id and passwords, secondary passwords, etc., by accessing the Edit Credentials option in the Edit tab that appears when you click the required account in the Accounts page.
What should I do if I want to remove an account linked to My Money?
You can remove any account linked to My Money using the options available in the Edit tab that appears when you click the required account in the Accounts page. Under the Edit tab, there are options to hide, close or delete the account from My Money.
How to view only specific accounts that I am interested in?
You can create a group with the required set of accounts and view only those accounts by filtering based on that account group. To create account groups, click Accounts Groups option under Manage tab in the toolbar, provide a name for that group, and include the required accounts.
How can I view transaction of any specific account?
You can view the transactions from the Transactions page. You can also view the transaction details from the Accounts page by clicking the Transactions tab that appears when you click the account in the Accounts page. You can choose the appropriate filter to view the transactions under a specific category or sub-categories under Expenses, Income and Transfers. You may also view the transactions for a specific period by choosing the required filter.
What do I do if a financial institution where I hold an account is not supported in My Money?
You can add a manual account by clicking the Add a manual account link in the flow invoked for linking an account.
You could also let us know so that the support can be built in the course of time. You may click the Email us link in the bottom of the page and provide the details regarding the required site that needs to be supported.
How can I receive notifications when the transactions are updated in my accounts?
To configure notification alert messages, you should click the Alerts option under the Manage tab. Alternatively, you can also access the Configure Alerts page from the Customize link available in the header. Email alerts will be sent to your designated email id.
Can I track my monthly expenses under particular category?
Yes. You can access the Budget page under the Spends tab to analyze the transactions against various categories. You can track your monthly income & expenses. You can set up alerts to know when you exceed your budget goals. You can receive regular status reports by email to keep track of the spending.