Do you bank online or on your phone? Sign up to test new money management app HyperJar - NOW CLOSED

[LucyBMumsnet]

Recruitment is now closed.

HyperJar is looking for Mumsnet users to test a new money management app that lets you plan, budget and grow your spending power in Jars. Please note this app is NOT a replacement for your bank account and will NOT affect your credit score. For more information on HyperJar, check out the website here.

Selected testers will be required to:

• Download the app from the App Store or Google Play, sign up and order a HyperJar card (it takes about a week to arrive)
• Create a Jar so that HyperJar can send £10 to your new account to spend using the app, wherever you like
• Transfer some money from your bank to your HyperJar account. This can be spent wherever you’d usually spend – no need to change shopping habits
• Start testing out the app (instructions on exactly how to do this will be sent to testers)

We’d like you to test HyperJar over four weeks. Once the test is over, if you don’t want to carry on using HyperJar, they will close your account and help you transfer any money you haven’t spent back into your bank account.

Here is how HyperJar describes itself: “HyperJar is the world’s smartest payment app. An easy, digital version of jam-jar budgeting. The Jars you create reflect your life, your spending and your goals. Jars for groceries, lunches, Christmas, kids’ clubs, nights out, holidays… With HyperJar, you can see where your money is going, not just where it went.

“So why use HyperJar? 1. Clearer, easier, happier money when you plan in Jars. For groceries, lunches, holidays. For life. 2. Shared spending, solved. Plan and spend together with Group Jars. Easy pop-up joint accounts and digital kitties for 2-30 people. 3. Make planning pay with our partners. Lock in money with them for an inflation-beating Annual Growth Rate of 4.8%. 4. Spend directly from any Jar with the world’s smartest payment card.”

Selected testers will be required to leave feedback on a private thread on Mumsnet as well as complete a short survey. All testers who do will be entered into a prize draw where 3 MNers will win a £100 voucher each of their choice (from a list).

Please don’t download the app directly from the App Store if you want to take part in this test – HyperJar are waiting to finish a few features which will be ready for Mumsnet users by the time we’ve selected our testers.

If you would like to sign up to test this app, please click here.

Thanks and good luck.

MNHQ

Standard Insight T&Cs Apply

HyperJar works with e-money specialists PFS (Prepaid Financial Services Ltd) to protect and manage your money. It's deposited in segregated accounts with major UK retail banks.

[fishandchops]

Done

[onitlikeacarbonnet]

Done.
I might be able to dispense with the actual jars if I get the chance to test HyperJar

[schoolcook]

Done. Be interesting to see how it works.

[darkriver19886]

Done. Would be interested with this.

[PhilomenaButterfly]

Done!

[Dangermouse80]

Done would love to try as I was pondering withdrawing cash and doing the envelope method.

[AdalindMeisner]

Done, really like the idea of this.

[darkriver19886]

@Dangermouse80 I currently do the envelope method. You need a lot of self control lol. Something that I lack.

[EagleVisionSquirrelWork]

God, it sounds easier just to use actual jars.

[NotSuchASmugMarriedNow1]

I'll try anything one!

[Lovemenorca]

All done
Fingers crossed
Looking forward to it!

@LucyBMumsnet
When will we hear?

[Lovemenorca]

Oh I have just this minute signed up and put money in my jar as I thought you had to do that before being able to be selected
Will this rule me out?

[flowerbombVR]

I would like to try this out. We have been meanng to lift cash in line with a budget plan but never get it done so yet to get started. I think this could be exactly what we need to help us budget and save our income better.

Please let me try it

[LucyBMumsnet]

@Lovemenorca Don't worry, you'll still be eligible for selection. We'll be selecting testers next week. If your name comes out of the hat we'll send you an email to let you know!

[foreverblessedbee]

Ooh I d love to be chosen. Sounds interesting.
Mmhq - is the hyperjar app already an IP and running app that anyone can use? Or is it still in development stage?

[foreverblessedbee]

• already an app that's meant to say .

[LucyBMumsnet]

@foreverblessedbee Yes, the early stage app is available in the App Store but not yet on Google Play. MNers will get access to the latest iOS and Android versions if they are selected to take part in the test

[CymaticPrincess88]

Done!

[TooTrueToBeGood]

If I want to save money in a seperate account I can set up an additional account with my existing bank in about 5 mins. Why would I want to transfer my hard earned money to some outfit I've never heard of? A quick check on Companies House tells me that PFS is a private limited company with 4 directors. None of those directors have any history of positive note and it looks like two of them have previously collaborated on a similar business that didn't get off the ground. Its accounts are up to date but it's only showing an operating profit before tax of 8.5m and net assets of £15m. So not quite a corner shop but hardly the sort of institution I would jump to trust my money to when their USP is hardly going to change my life. That's without even considering how secure, or insecure, their mobile app and backend IT systems might be.

What sort of due diligence does MN undertake before promoting "opportunities" like this to its members?

[LucyBMumsnet]

Hi @TooTrueToBeGood Thanks for your comment. HyperJar have asked us to pass on the following:
"PFS is one of Europe’s largest e-money issuers. It works in in 25 countries with the ability to transact in 23 currencies. As well as HyperJar, its clients include local authorities in the UK, banks, mobile operators and government bodies across Europe. PFS is regulated by the Financial Conduct Authority in the UK, and by the Bank of Ireland. Any money deposited is held in segregated accounts with major UK high street banks until it’s spent."

[LucyBMumsnet]

HyperJar would also like to add the following:

"Hi @TooTrueToBeGood,
Thank you for your comment. I am Laura, heading up customer support at HyperJar. We are pretty new in the market – we haven’t yet launched to the public – and have been deliberately low-profile, so there won’t be much of an online presence for a little while more.

We have partnered with Mumsnet to get important feedback on the app before a full public launch. We understand that a concern will be about the safety of money, but I want to reassure you that anything deposited is kept in segregated accounts at a UK retail bank (like keeping it locked in a safe until it’s spent). We think we’ve built something that will help with everyday spending and budgeting, and need as much feedback from early users so we can learn what we’ve got right and what we need to change. To give you an idea of how the app works, there are virtual Jars that operate like mini sub- accounts, all visible on one screen. You can budget money in these Jars for everyday things, like groceries, transport, clothing and so on, and when you are ready to spend you just link that Jar to your prepaid Mastercard card and pay directly from it. If you want to learn anything more, let me know. Thank you, Laura."

[Ibizama]

done

[leosmummy2010]

Interested

[Lougle]

Isn't it exactly like Pingit?