Question 1

Is CheckFin really private?

Accepted Answer

Yes, CheckFin processes all your data 100% in your browser. We never upload or store your financial information on any server. Your bank statements remain completely private on your device.

Question 2

What file formats does CheckFin accept?

Accepted Answer

CheckFin accepts CSV, XLS, and XLSX files. Most banks allow you to export statements in these formats. We recommend uploading at least 90 days of data for the best results.

Question 3

What is the debt ratio (DBR)?

Accepted Answer

The Debt Burden Ratio (DBR), also known as debt-to-income ratio, is the percentage of your monthly income that goes towards debt payments. A healthy DBR is ≤30%, 30–40% requires caution, 40–50% is high risk, and >50% is unsustainable.

Question 4

Is CheckFin free?

Accepted Answer

Yes, CheckFin is completely free. It requires no sign-up, has no hidden fees, and we do not sell your data. Our goal is to democratise financial analysis with total privacy.

Question 5

How does CheckFin detect recurring expenses?

Accepted Answer

CheckFin groups transactions by merchant name and analyses the frequency and amount patterns. It identifies subscriptions, direct debits, and other recurring costs automatically, then calculates the real monthly cost based on your actual payments.

Question 6

Can I use CheckFin with any bank?

Accepted Answer

Yes, CheckFin works with any bank that lets you export transactions as CSV or Excel. This includes major banks across Europe and the UK such as Barclays, HSBC, ING, ABN AMRO, CaixaBank, BBVA, and many more.

Question 7

What is the savings rate?

Accepted Answer

Your savings rate is the percentage of your income that you save each month. A rate above 20% is considered excellent, 10-20% is good, and below 10% means there is room for improvement. CheckFin calculates this by detecting transfers to savings accounts.

Question 8

Can I use CheckFin on my phone?

Accepted Answer

Yes, CheckFin is fully responsive and works on any device with a modern browser. You can also install it as a Progressive Web App (PWA) for quick access from your home screen, no app store required.

Question 9

How do I upload my bank statement?

Accepted Answer

Download your bank statement from your online banking as a CSV or Excel file. Then drag and drop it onto CheckFin or click to select the file. The upload and analysis happen entirely in your browser — your bank statement never leaves your device. Most banks (Barclays, HSBC, Lloyds, Monzo, Starling, NatWest, Revolut, N26) let you export transactions from the app or website.

Question 10

Can CheckFin analyse bank statement PDFs?

Accepted Answer

CheckFin works best with CSV and Excel (XLSX/XLS) bank statements because these structured formats allow accurate analysis of each transaction. Most banks offer CSV or Excel export alongside PDF. If your bank only provides PDF statements, check the transaction history section of your online banking for a CSV or Excel download option.

Question 11

Can CheckFin help me prepare for a mortgage?

Accepted Answer

Yes, CheckFin includes a mortgage calculator that shows how a new mortgage payment would affect your debt ratio. It runs a stress test at +2% interest and generates a PDF summary with your financial picture — income, debt ratio, savings rate, and spending breakdown. This can help you prepare for a mortgage conversation.

Question 12

How do I check my bank statement for hidden charges?

Accepted Answer

Upload your bank statement to CheckFin and it will automatically detect all recurring charges, subscriptions, and hidden expenses. The tool groups transactions by merchant, calculates the monthly cost, and flags charges you may have forgotten about. The average household discovers 2-4 subscriptions they can cancel, saving £30-80 per month.

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