categoryBuilding Sprive

Link your bank with Sprive 2.0

Many of our users like smarter and hassle free ways of saving money. That’s why we’re building Sprive 2.0. It essentially gives your bank a brain and it allows you to automatically chip away at your mortgage based on your spending.

To unlock the smart tech, we need you to link your bank account using open banking and setup a direct debit with Sprive.

How does Sprive 2.0 work?

  1. Simply link your bank account
  1. Set your monthly limits and your mortgage freedom goal
  1. We’ll automatically set money aside based on your spending. The less you spend, the more we set aside without impacting your lifestyle
  1. With one tap you can make secure payments directly to your lender via Sprive or withdraw the money back to your bank should you need the funds
  1. We’ll keep you on track by sending you reminders, recalculating your targets while you can monitor your savings and progress on your dashboards

Save money on your mortgage

Why do I need to link my bank account?

You need to link your bank via Open Banking for two reasons:

  1. We use read-only access to look for patterns in your spending. This allows us to automatically set aside an amount you can afford
  1. We create a direct debit which we use to automatically move money to your Sprive account

Is it safe?

Open Banking is regulated by the FCA and allows banks in the UK to securely share data with your consent.

Your personal data is secured using state-of-the art security measures, and we never store (or have access to) your bank login credentials. We use symmetric cryptography (AES) and 256-bit TLS encryption to communicate between the Sprive app and our servers.

Which banks do you support?

Barclays, Danske Bank, First Direct, Halifax, HSBC, Lloyds, M&S, Monzo, Nationwide, Natwest, Revolut, RBS, Santander, Bank of Scotland, Starling, Tesco, TSB, Ulster Bank

Which lenders do you support?

Sprive currently works with HSBC, Lloyds, Barclays, Santander, RBS, Virgin Money, Halifax, Natwest, Yorkshire Building Society, and TSB Bank.

Why do I need to reconnect?

To keep your account safe and secure, the connection between Sprive and your bank expires every 90 days.

Don’t worry, we’ll remind you before your connection is due to expire and you’ll be prompted to reconnect your account within the app. By reconnecting, you will be able to continue using Sprive’s AI to help you become mortgage free, faster and save more money.

What happens if I forget to reconnect?

Not to worry. Sprive will continue to automatically move your set minimum each month, so that you’re still chipping away.

To help us save you more, please do make sure you reconnect!