A service which allows users to view all their personal finances on one web page is to be launched by websites from the Telegraph Group and Associated Newspapers, writes Mary Stevens.
View My Accounts offers an “account aggregation” system, which also allows users to find the cheapest financial products online. The service automatically compares what the user is paying for services such as their mortgage, overdraft, credit card repayments, insurance and personal loans, for example, against the prices from other companies.
Telegraph.co.uk and Thisismoney.co.uk are partners in the venture with personal finance website moneysupermarket.com and claim to be the first to launch such a service.
Christopher Lloyd, commercial manager for telegraph.co.uk, said: “We are delighted to be able to offer this new service to our users and believe it will prove to be extremely popular. Together with our editorial content, it should ensure that our users stay ahead of the game with their finances and empower them to make the right personal finance decisions.”
Chris Nixon, moneysupermarket.com general manager, said: “We believe that comparative account aggregation is a killer application. There really will be nowhere to hide for uncompetitive providers.”