Capital One Shuts Down Level Money Finance Management App
Capital One is closing down the Level Money budgeting app it acquired less than two years ago. According to an announcement on LevelMoney.com, the app will be completely turned off on September 1.
Level Money has been around since 2013. The app focused on helping people budget their “spendable” money, the funds leftover after paying bills and putting away fixed savings amounts. A user would connect his bank account, credit card account, savings account and other financial platforms to the app, and Level Money would use the data to show how much spendable money was left throughout the month.
In the FAQ section of their website, Level Money says they have already removed their app from Google Play Store and the Apple App Store. Only people who currently have the app on their devices will be able to use it through the end of August.
The financial management data on Level Money cannot be exported anywhere else. The company recommends creating a manual log of information before the app officially closes in September. They also recommend installing a new app from the finance section of Google Play at the App Store.
With regards to the financial data stored in Level Money, the company says, “We will purge login credentials and associated transaction history for all accounts held outside of Capital One.”