Microsoft launch banking activity
Microsoft launch banking with new money feature in Excel to track budget and personal finances. It will help Microsoft 365 users to connect their bank, credit card, loan details, and investment statements. Also, it will further involve the import of transactions and all the account-related information directly into a spreadsheet.
This is not the first time that Microsoft has worked into managing the personal finance section. Earlier, it had personal finance management software named Microsoft Money. However, this software was discarded by the company around 10 years ago. But back in 2012, the MSN Money app made its way in the Windows Store as a news compiler and for keeping an eye on stocks.
Now, Microsoft launch banking with Money feature with a higher expectation. This dynamic feature will be released in the form of a template and add-in for Excel will securely link your bank and the related information. To get its access, you will have to download the template and simply link your bank accounts via the Plaid connector. This supports major US financial institutions.
After connection, the template will automatically import transaction details from accounts and create a workbook on Excel. Additionally, this feature will also create charts for recurring and monthly expenses. You can go through such charts anytime to examine your expenses.
Moreover, if you are eager to use this feature in Excel, you will have to purchase Microsoft 365 subscription. It costs $6.99 per month for Personal plan (one person pack) and $9.99 per month for the Family plan (six people pack). For now, this feature is limited to the US. So, only US banks and accounts will show up in the feature.