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Mulalo

The worlds smartest savings account

Mulalo

The worlds smartest savings account

Mulalo will be the first savings account that not only automatically saves you money, but helps you grow and spend your savings in the most effective way.

Using Mulalo is like having a private banker and a personal assistant in your pocket.

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This sounds great. I think there are a couple of very similar services also in beta now. Do you know what would happen if more than one service syphoning money off into a savings account are used at the same time?! Is Mulalo registered with the FCA? Thank you.
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Hi Ian. Thanks for getting in touch. My guess is that you would save lots of money!

There are now quite a few new companies doing cool things in this space. However, the fundamental reason why a person doesn’t save money, is because they spend it. Mulalo turns the problem into the solution by adding on an extra 10% (chosen) saving every time you spend. Therefore converting momentary lapses of self control into savings opportunities.

eg. spend £3.00 at Costa, and save an extra 30p, or £100 shopping and save an extra £10. You can configure the percentages for different categories - you may not want to save as much on your essentials as your 'nice to haves'.

It's our philosophy that you don't always have to compromise on your lifestyle to save money, but if you can afford to enjoy now, then you can afford to put a little bit away for later.

We are not currently regulated by the FCA but are structured in such a way that the money is always yours, so no need to worry about that! Moving forward this is something we're currently working on to give our users extra "peace of mind".

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