Påmind is a new free service that helps people in Sweden to review ongoing subscriptions and contracts. The concept is not new. Everyone struggles to keep up with subscriptions and services and how much we are paying every month. Several apps have come up to track subscription costs in the last couple of years.
The innovative part about Påmind is that it connects with your BankID and queries and summarizes your services from different companies. It also helps you renegotiate the terms or find solutions (alternative services) in a few seconds. Let’s have a look at how it works.
What is Påmind?
Påmind is a Swedish company that helps you to keep a tab on your personal finances by continuously offering you an opportunity to save money on your existing agreements. They do that by negotiating better prices with your suppliers or suggesting new agreements that suit you better if your supplier chooses not to reward you.
Påmind has 11 employees as of 2023 and has a reputable Trustpilot score of 4.4 with over 75+ reviews.
Påmind AB information
- CEO: Peter Karl Gustaf Sjödahl
- Company form: Limited company
- F-Tax and VAT Registered
- Registration year: 2017
- Number of employees: 11
How Does it Work?
Påmind is free to use and has unique offers from over 600 suppliers. The process is pretty simple.
- Connect: You start by choosing which contracts you want Påmind to negotiate down the price for.
- Negotiation: Påmind reminds your suppliers that you exist and deserve a discount. They’ll also find another competitive offer if you don’t get a better deal.
- Get rewarded: No more comparing and swapping. Påmind continues to monitor your agreement so that you have the best terms and prices.
Get the same discounts as new customers
We all agree that it is crazy that only new customers get discounts and good deals, right? It should be the other way around. Long-term, loyal customers should get better terms and rates than new members.
Switching to new providers is almost a sport for me. While I do it for fun and for the sake of unlocking new benefits or saving a bit of money, I admit it is energy-draining and takes valuable time. Customers shouldn’t bother changing suppliers every quarter to get a better price.
Påmind does this for you so that they negotiate a better price for your existing providers. For example, Tele2 offers great promotions for new customers, and when the binding time is up, they always offer a better price for existing customers after you reach out to them via support. Påmind does this for you automatically, so you don’t have to do it.
Påmind bolånepass (Mortgage Passport)
Let’s be honest, who hates renegotiation mortgage rates with the bank? I do it every year to try to pay less for my mortgage, but it is a draining process that almost no one wants to do.
A mortgage passport (Bolånepass) is the shortcut to a lower mortgage interest rate. Mortgage interest is today by far the most significant expense for many Swedes. Påmind recommends that you collect your amortization basis, and they have called it a mortgage passport. Because just like your regular passport, your amortization basis gives you freedom when you go on the trip for a lower interest rate!
How to use Påmind (step-by-step)
Creating an account on Påmind is straightforward. Just follow these steps:
- Visit pamind.se.
- Click on Logga In.
- Enter your personal number (personnummer)
- Enter your email address and phone number.
- Confirm your mailing address.
- Tap on Läg Till / Add Services.
- Choose your mobile phone operator.
- Choose your electricity provider.
- Choose your broadband provider.
- Choose your insurance(s).
- Choose your mortgage(s).
- Choose your personal loan(s).
That’s it! You have successfully created a Påmind account and connected your current providers and services. You should be able to see a dashboard like this with an overview.
To create your bolånepass (mortgage passport), you need to provide some extra information and access. The same with your home insurance, so that they get more accurate alternative offers.
It took me 5 minutes to create an account on Påmind and get it up and running. I can see all my current contracts and subscriptions in one place, including mortgage, car loan, mobile phone, electricity, broadband, insurance, and private loans.
Påmind gives an excellent overview of how much you are spending. After you’ve authorized them, you can sit down until they try to find better prices for you. First, they will try to get a better price from your existing provider. If they don’t succeed, they also find alternative offers from different providers and help you with the transition.
Since the service is completely free, it is totally worth trying it out. At least, after you’ve used it, you will have more information about your current spending and potential saving opportunities out there. After all, knowing where you can save money every month is always useful.