Frequently Asked Questions
How does Mvelopes help manage my money?
Mvelopes helps you manage your money better by primarily managing your spending. The digital envelope budget system in Mvelopes not only helps you track where your money was spent, but more importantly helps you plan where you want your money to go. In Mvelopes, you separate your budget into different spending categories and receive up-to-date information for each spending category which shows your actual funds available as you assign transactions to their appropriate category or envelope.
Through managing money before and after they spend it, our customers have been able to spend less, save more, and pay off debt quicker. If using the Mvelopes app isn’t enough we also offer a personal finance trainer in our Plus and Complete products to help you create a personalized roadmap that through the app and our other tools will start you on the path to financial freedom.
Is my information secure?
Mvelopes uses SSL/TLS encryption of your data as it is transmitted and store any sensitive data in an encrypted format with additional layers added to our backup systems. It is the same form of protection used by banks and trading firms. Mvelopes servers are protected by restricted public connections and multiple firewall connections.
We require the use of a username and password and after a period of inactivity you will be logged out. After multiple incorrect attempts at your username or password access to your account will be blocked. You are responsible for protecting the secrecy of your password. We recommend not storing secure pages in your cache or leaving your computer unattended while logged into Mvelopes.
Mvelopes also undergoes regular third party data security audits to ensure that your personal information always remains safe and secure. See our Security Policy for more information.
Is my financial institution supported?
Mvelopes and its parent company Finicity are committed to building out and maintaining significant connections to financial institutions. We have developed over 16,000 integrations and our financial institution partners know us through years of working together. We don’t stop there. Over 95% of our integrations consist of formatted data sources that improve the quality of data we receive.
What is envelope budgeting?
Traditionally, many people managed their money by dividing their cash into several paper envelopes: an envelope for food, entertainment, utilities etc. They would then withdraw cash from these paper envelopes to make purchases. They always knew how much money they had left, and how long it had to last. Mvelopes is a breakthrough in budgeting and spending management that modernizes this proven envelope budgeting concept using innovative, cutting edge technology.
How will Mvelopes help me get out of debt?
Through reducing spending with the digital envelope budget found inside the Mvelopes app and a debt roll-down plan, our users have found they eliminate overspending, save more money and are able to pay more towards their debt. Also with the help of a personal finance trainer, users can get the added attention to their finances needed to change their poor financial behaviors and make decisions that will help keep them out of debt in the future by having an emergency fund, saving for periodic expenses and using their credit cards wisely.
How does Mvelopes handle credit card purchases?
More people get into trouble with credit card debt than any other. Mvelopes can help you stop spending more than you can afford and start paying off the balances on your credit cards with its credit card envelopes inside the Mvelopes app.
When you make a purchase in Mvelopes using a credit card, the transaction amount if removed from the spending envelope and placed into an envelope for the credit card. When it comes time to pay your credit card bill, how much you have spent on the credit card is waiting in that envelope along with any extra money you were planning on paying off that month. You won’t have spent all the money in your checking account and almost as much on your credit card thinking you had enough to pay for both.
How do I begin using Mvelopes Mobile?
You can download our app for your smartphone or tablet from iTunes, Google Play or the Amazon App store. You will need to sign up for a free trial inside the app once it’s downloaded, but you’ll have 30 days to see just how much of a difference Mvelopes can make in your life. Our mobile apps sync with our web app and keep your finances updated wherever you are.
Is the Mvelopes coaching over the phone or in person?
As part of the Mvelopes Plus and Complete products, your sessions with your finance trainer will be over the phone with added screen sharing ability to go over your finances. This way you can receive your training effectively just about anywhere. All you need is an internet connection and a phone.
Can I use Mvelopes without linking to a financial institution?
Yes you can, but every Mvelopes product includes unlimited accounts that sync your transaction information from your financial institution. You’re still welcome to use offline accounts to manage cash, gift cards, or whatever you need them for, but the easiest and most effective way to use Mvelopes is through linking to your financial institutions and having all your financial data in one place.
I don’t see my financial institution. Can it be added?
If your Financial Institution is not listed, please contact Mvelopes Customer Support to make a request. They will provide you the steps to make the request securely. Some Financial Institutions cannot be supported because of technology or contractual limitations.
How do I cancel my Mvelopes subscription?
You can cancel your Mvelopes subscription one of two ways, depending on how you signed up for Mvelopes.
Web signup: To cancel a subscription you signed up for on Mvelopes.com, you can contact Mvelopes support or go to My Account > Account Details > Subscription Info > Cancel in the web app.
Mobile signup: To cancel a subscription you signed up for in the Android or iOS app stores, do so through your account in the respective app store. Mvelopes support can’t cancel your mobile app subscription, you must go through the app stores.
If you have other questions, please contact us via live chat, email or phone.