RCT vs banking apps (Revolut and others)
Banking apps like Revolut automatically categorize your card transactions, but only the ones made on that specific card, and only as a whole transaction. RCT scans the physical receipt, so it works no matter which bank, card, or cash you paid with, and breaks a single purchase down into its individual items instead of one category.
A banking app can only see the money that moves through its own account. RCT works from the receipt itself, so it can put every purchase, regardless of which bank, card, or cash you used, in one place, broken down to the product level.
| Feature | RCT | Banking apps (e.g. Revolut) |
|---|---|---|
| How spending is categorized | Every item on the receipt is scanned and categorized automatically | Each transaction is auto-categorized by merchant, as a whole |
| Level of detail | Item-level, down to individual products on the receipt | Transaction-level only |
| Aggregates multiple banks/cards | Yes, works with any card, bank, or cash, since it reads the physical receipt | No, only sees transactions made through that one bank/card |
| Manual entry required | No, scan the receipt and it's categorized | None, but coverage is limited to that account |