Axio (formerly Walnut) alternative: PennyWise AI compared
Walnut became Axio, and the app now leads with credit as well as tracking. If you came for the SMS expense tracker, here's how it compares with PennyWise AI, and when you should stay put.
By PennyWise AI Team · Updated
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The short answer
Walnut is now called Axio. It still tracks spending from your bank's texts, and it's free, but its listing now leads with credit: Pay Later, personal loans and fixed deposits. PennyWise AI does tracking only, from bank texts and UPI app alerts, and adds an AI Coach that answers questions about your spending. Pick by what you want the app to be.
1 crore+
downloads for Axio on Google Play, with a 4.5 rating from 2.65 lakh reviews
What happened to Walnut?
Walnut was one of India's first apps to track spending from bank SMS. Its Play listing today names the app axio: Income & Expense Tracker, by Axio Digital Pvt. Ltd., and says axio was "formerly known as Capital Float, Walnut & Walnut 369".
The tracker is still there: the listing describes an "SMS-based money management app" with daily and monthly tracking, bill reminders and credit card due dates. Alongside it, the listing now offers axio Pay Later, personal loans and fixed deposits.
Axio vs PennyWise AI, side by side
| Axio (formerly Walnut) | PennyWise AI | |
|---|---|---|
| How it tracks | Reads your bank's transaction texts | Reads bank texts and payment alerts from UPI apps (PhonePe, Google Pay, Paytm and others) |
| Price | Free | Free; Plus ₹79 a month |
| Credit products | Pay Later, personal loans (14% to 35% a year, up to 2% processing fee), fixed deposits | None. It doesn't lend, sell credit or move money |
| Bills and dues | Utility bill and credit card due reminders | Recurring payments and subscriptions found from your history |
| Ask questions about your money | Not in the listing | AI Coach answers from your own spending (Plus) |
| Daily spending limit | Not in the listing | What you can spend today, after rent, EMIs and savings |
| Fixing a wrong entry | Edit the transaction | Undo right on the notification, or edit |
| Track record | 1 crore+ downloads, 4.5 from 2.65 lakh reviews | New in 2026, few reviews yet |
Who should stay with Axio
- You want everything free. Axio's tracker costs nothing; PennyWise AI's AI Coach and some extras are on Plus.
- You use its credit products. If you already have an axio Pay Later line or a fixed deposit there, keeping one app makes sense.
- You value a long track record. Axio has years of history and a large review base. PennyWise AI is new.
Who might prefer PennyWise AI
- You want a tracker, and only a tracker. PennyWise AI doesn't offer loans or credit, so the app's job is your spending.
- You pay with UPI apps a lot. It reads PhonePe, Google Pay and Paytm alerts as well as bank texts, and keeps one entry when both arrive.
- You want answers, not just charts. Ask the AI Coach "why was this month expensive?" and get the categories and payments that changed.
- You want a daily number. Home shows what you can spend today after rent, EMIs and your savings goal.
Switching takes a minute
There's nothing to export. PennyWise AI starts from the texts already on your phone: allow SMS and, on Plus, it reads your last six months of bank texts at once, so your history and habits show up on day one. You can keep Axio installed while you try it.
An expense tracker that only tracks
PennyWise AI logs every UPI, card and bank payment from your phone's alerts, with Undo, and its AI Coach tells you where the month went. No loans, no bank login.
Free on Android, no card needed. 40% off Plus for your first 3 months.
Questions people ask
Is the Walnut app still available?
Walnut is now Axio. Its Google Play listing names the app axio: Income & Expense Tracker and says axio was formerly known as Capital Float, Walnut and Walnut 369.
Is Axio free?
The expense tracker in Axio is free to download and use. Axio also offers credit products, such as Pay Later and personal loans, which carry interest and fees according to its listing.
What is the best alternative to Walnut for tracking expenses?
If you want automatic tracking from bank texts without lending products, PennyWise AI reads bank SMS and UPI app alerts and adds an AI Coach. Our guide to the best expense tracker apps in India compares more options.
Can I move my Walnut or Axio history to PennyWise AI?
There's no import from Axio, and you don't need one: on Plus, PennyWise AI reads the last six months of bank texts already on your phone.
Sources
General information, not financial advice. Facts checked on 9 Oct 2026; apps and fees change, so check before you act.