Moneytree Grow is a paid upgrade to Moneytree’s free mobile app which helps users link and see all their financial accounts, including accounts, savings and transport cards and more.

Included in the upgrade includes budgeting by category, automatic daily background updates, data exports and a monthly breakdown of spending.

Chief executive and founder of Moneytree Paul Chapman said Moneytree had responded to consumer feedback in developing the tool.

“We are evolving our app to deliver what Australian users have been increasingly asking from us, a tool that sits on top of our existing, free financial data aggregation service to help them control their spend, and make real financial progress,” he said.

Mr Chapman said with open banking just around the corner, consumers were wanting to see changes to their financial services.

“A great starting point to improve your financial wellbeing is to really understand what you’re spending money on. With more and more people cherry-picking the best credit cards and bank accounts, you’ll be better off with an automated tool like Moneytree Grow to help you successfully steer the course,” he said.

The update is priced at $4.49 a month with a 12 per cent discount for annual subscribers with users able to customise the app spending cycle to have it start at any point in the month.