Banknaked

About Banknaked

Banknaked is your personal financial detective, designed to expose the true cost of your banking. In a world where banks often bury fees in complex statements, Banknaked cuts through the confusion. It connects securely to your bank account using Open Banking technology to give you a clean, understandable breakdown of every single charge. You'll see exactly what you're paying for, from monthly maintenance fees and foreign exchange markups to ATM withdrawal charges and those vague "miscellaneous" costs. The platform is built with a privacy-first promise: it has read-only access (so it can't move your money), uses encrypted processing, and allows you to delete your data at any time. In just minutes, you get a total of your fees, explanations in plain language, and a projection of what those charges add up to annually. Most importantly, Banknaked doesn't just show you the problem—it offers the solution by suggesting cheaper account alternatives tailored to your actual spending habits. It's the ultimate tool for anyone who wants to stop overpaying their bank, whether you plan to switch, negotiate a better deal, or simply understand where your money is really going. The service starts free, so you can discover your hidden fees with no commitment.

Features of Banknaked

Automatic Fee Detection

Our smart algorithms scan your connected bank accounts to automatically identify and categorize every fee. We hunt down monthly account maintenance charges, foreign exchange markups on overseas transactions, ATM withdrawal fees, wire transfer costs, and any other hidden charges that banks quietly deduct. This saves you the tedious and confusing work of manually deciphering your own bank statements.

Visual Fee Dashboard

See the full picture of your banking costs at a glance with our clear, visual dashboard. It breaks down your total fees from the last 12 months into an easy-to-understand chart, showing you exactly where your money is going. This visual summary makes it simple to spot which fee categories are costing you the most, turning complex financial data into actionable insights.

Personalized Bank Recommendations

Based on your actual transaction history and fee profile, Banknaked provides you with personalized recommendations for alternative bank accounts or financial products. We show you how much you could save each year by switching to an account that better fits your lifestyle, empowering you to make a data-driven decision to reduce your costs.

Secure, Privacy-First Setup

Your security and privacy are our top priorities. We use secure, certified Open Banking APIs for a read-only connection, meaning we can never move your money. Your data is protected with bank-level encryption, processed in compliance with GDPR, and you retain full control—you can delete your data from our systems at any time. Setup is quick and requires no manual uploads.

Use Cases of Banknaked

The Fee-Conscious Consumer

You review your subscriptions but have never scrutinized your bank statements. You connect Banknaked and discover you're paying €15 a month for a "premium" account package that offers benefits you never use. With this insight, you confidently switch to a basic, free account, saving €180 a year without sacrificing any needed services.

The Frequent Traveler

You travel abroad several times a year for work and leisure. Banknaked analyzes your transactions and reveals that your bank charges a 3% foreign exchange markup plus a fixed fee on every overseas card payment and ATM withdrawal. We recommend a travel-friendly card with no FX fees, potentially saving you hundreds annually on your trips.

The Negotiator

You're happy with your current bank but want a better deal. Before calling them, you use Banknaked to get a clear report of all the fees you've paid over the last year. Armed with this data and knowledge of cheaper competitors, you successfully negotiate with your bank to have your monthly account fee waived or reduced.

The Financial Reviewer

As part of your annual financial health check, you use Banknaked to get a comprehensive overview of all your banking costs across multiple accounts. The annualized projection and clear breakdown help you consolidate accounts, eliminate redundant services, and optimize your entire banking setup for maximum efficiency and minimum waste.

Frequently Asked Questions

Is Banknaked safe to use?

Absolutely. Security and privacy are foundational to Banknaked. We use secure Open Banking connections that are read-only, meaning we can only view your transaction data—we cannot access your login credentials, move money, or make any changes to your account. All data is encrypted, we are GDPR compliant, and you can delete your data from our platform at any time.

How do you find my hidden fees?

We use automated algorithms to scan the transaction descriptions and codes from your bank statements via Open Banking. Our system is trained to identify common and obscure fee labels, from obvious "Monthly Fee" lines to more cryptic bank-specific codes for foreign exchange markups, ATM charges, and penalty fees, presenting them all in a clear, categorized format.

What if my bank isn't supported?

We support a wide range of major banks and financial institutions through secure Open Banking APIs. If your specific bank isn't available yet, you can sign up to be notified when it's added. The Open Banking standard is continuously expanding, and we are always working to include more providers.

How much does Banknaked cost?

You can start using Banknaked completely free. Our free tier allows you to connect your bank, see your fee breakdown, and get your annualized projection. When you're ready to go deeper—such as accessing personalized alternative bank recommendations or more advanced historical analysis—you can choose to upgrade to a premium plan.