Emma App – The Key Points


  • Emma are a UK company and fully regulated by the FCA.
  • Unlike some other budgeting apps, Emma do not sell your data to third party companies.
  • Emma app uses open banking to access your data, which is a very safe and secure system.

Potential Concerns:

  • There is a free version of the Emma app. However they also have 2 paid versions. Emma Plus at £4.99 per month and Emma Pro at £9.99 per month. This is quite expensive compared to other budgeting apps, so it would be wise for users to ensure that they are getting enough value from the app if they subscribe, otherwise it is potentially just another expensive subscription!
  • Emma app is within a very competitive budgeting app marketplace, and some apps have recently closed or left the market. There is no guarantee that Emma will be around for a long time given the competitive environment.

What Is Emma App?

Emma app is a smartphone based budgeting app that uses open banking to connect to your bank and other financial institution accounts. Once it has access to your data, they can then use various analytical tools within their platform to help you budget, categorise your spending and make savings.

Emma app launched in 2018, and as of 2021, the app is available in the UK, USA and Canada – and they claim over 600,000 customers are using their app.

Emma App – The Details


Emma is a UK company and is regulated by the Financial Conduct Authority (FCA).


Emma app does not hold your money, so there is no need for Financial Services Compensation Scheme (FSCS) protection or other insurances.

Risks to Your Money:

As a budgeting app, Emma does not hold your money, so there is no risk of losing money with them.


Emma app is a relatively recent startup, and as such is still funded by investment and is not yet profitable. The company does appear to be growing and getting customers. However, the budgeting app marketplace is quite crowded, and recently apps such as Yolt have left the market, and Cleo stopped accepting new UK customers. Whilst there is no risk to your money if Emma was to shut down as they do not hold your cash, it could be inconvenient if you spent a lot of time on your budgeting within the app.

Data Security:

Emma app does connect directly into your bank account (as well as potentially into credit card and other financial accounts you have and give it access to). Therefore the app has access to your personal data. However, they use open banking to access your data, which is a very safe, secure, and well regulated technology structure. With open banking, Emma (or any other provider using open banking) never have access to your login details. In addition they have only read-only access to your accounts, so cannot make any changes.

Once your data is in the Emma system, they claim that they have fully encrypted bank level security to ensure that it is protected.




Is Emma App Legit?

Emma is a well regulated UK company, and use open banking to access your data, which is a very secure system. They also do not sell customer data unlike some competitors. In a crowded budgeting app market, they are as safe a choice as any other option.