The website says that Envel is a company that listens. One Finance is significantly changing its pockets platform by removing the ability to assign the debit card to a pocket and limiting the number of pockets a user can create to just 3. These changes also happen to remove the ability of a couple sharing a pocket to both be able to spend from that pocket. I see Envel allows envelopes to be shared but only the owner can assign their card to that envelope and spend from it. Is Envel open to changing that so that my wife and I can both share, say, a Grocery envelope and spend from that envelope together? This would make me consider Envel over Qube which allows that but charges $80 / Year for that feature. Love to know if this is on the roadmap so that consider Envel further
I’m a One Card user who is desperate to find a replacement since they’re killing these features as well.
I am also looking for a new bank as a One Finance Refugee. Missing this single feature is the only thing discouraging me from Envel. Everything I’m seeing here is nearly identical to One as it is before their announcement to pull this feature.
To get more familiar with your bank I just watched the Envel Investor Town Hall - YouTube which was great. The one thing I noticed is that the mission statement at the beginning focused primarily on younger college students and early/young professionals. I’d recommend you expand that vision to include families and folks more established in life. When I was single I never had budgeting issues, but once I got married and started sharing finances with my partner that’s when financial stewardship got a LOT harder. My spouse and I struggled for years until digital envelope banks began to emerge to keep us both on the same page to know what was safe to spend for daily/monthly needs. My kids are nearing the age where they will need their own bank account soon, so I’m not looking for that yet but I do see the need in a few short years.
I came here with the exact same scenario. Coming from One Finance and need all the features mentioned above (being cut off by One). I think Envel can gain a good user base coming from One if you can offer those features One is taking away.