Connected Accounts: What next? (Summer 2022 edition)

Last summer we had a poll and a chat about what folk wanted to see next in connected accounts:

Now a year’s nearly gone by (:scream:) and things have changed: we’ve had a bunch of new providers (hello New Day, Sainsburys, TSB and Tesco Bank). So let’s repoll (yes, that’s a word) and see what we want now…


What do you want to see on connected accounts?

  • More connections
  • Notes (and #tags)
  • Split the bill / shared tabs
  • Add receipt
  • Budgeting on connected accounts
  • Manual accounts
  • Keep closed connected accounts in Monzo
  • Upload data files from external accounts to see them in Monzo
  • Connected account details in Google Sheet exports

0 voters

Which connections are you missing? (We’re really into diminishing returns here, I think!)

  • Manual accounts (you enter transactions / balance manually)
  • Chase*
  • Coutts
  • Co-operative Bank (including Smile)
  • Coventry Building Society
  • Creation Cards
  • Danske
  • JaJa*
  • Marcus*
  • Metro Bank*
  • Moneybox*
  • National Savings and Investments (NSI)*
  • Nutmeg*
  • Paypal*
  • PensionBee*
  • Starling
  • Transferwise*
  • Triodos
  • Tymit*
  • Ulster Bank
  • Vanguard*
  • Vanquis
  • Virgin Money (inc B, Yorkshire Bank and Clydesdale)
  • Wisealpha*
  • Yorkshire Building Society
  • Zoopla (for house prices)*
  • I have all I need
  • Something else (explain below)

0 voters

If Monzo could only do one thing from this list, what should it be?

  • Connect Starling
  • Connect Chase
  • Connect Virgin Money
  • Connect PayPal
  • Connect stocks/shares providers
  • Connect mortgage providers
  • Connect pension providers
  • Notes (and #tags)
  • Split the bill / shared tabs
  • Add receipt
  • Budgeting on connected accounts
  • Manual accounts
  • Keep closed connected accounts in Monzo
  • Upload data files from external accounts to Monzo

0 voters

* Quick point on methodology here: I took the poll for last year (including the few I forgot first time round :eyes:), added in manual accounts and a bunch that we know can’t really be connected to Monzo without a special agreement (that’s because they don’t have an open API) - they’re the ones indicated by a *. I also took out a few that got a big fat zero votes last year (One Account, Cahoot).

Disclaimer: this is just a bit of fun and isn’t an official Monzo poll. Folk (@tjvr, @avb et al) might see it and be inspired but (more likely) it won’t actually change anything. But let’s do it anyway!

(@AlanDoe would you mind closing last year’s topic in preference of this one? :pray:)

9 Likes

Not quite ‘on’ connected accounts but my top vote for improvements would be a master feed showing transactions from all my accounts (with the ability to choose which show up as in Trends).

Think that necessitates full transaction parity to not feel MVP (so notes, tags, splitting, etc.), but yeah.

9 Likes

I’m very much here for that! :monzo: :hot_coral_heart:

2 Likes

Atom is also on my list of accounts to connect - with the same caveat as the other savings providers - but manual accounts has to be the best one feature they could add, surely? That allows anyone to replicate their balances anywhere, including on stocks and shares providers

5 Likes

Every time I do this I end up missing out something obvious :man_facepalming:

Speaking of which, I’ve missed a feature so basic, so fundamental and so important. One that I remember kicking myself about last year.

That feature is search.

We really really need search. Please. Who do I lobby? I’m not above begging. :eyes:

14 Likes

Freetrade would be nice too

6 Likes

I was just thinking that I’d missed them and T212 out. Especially as I’ve lobbied for a deeper Freetrade and Monzo integration.

Mini stocks and shares poll. Which providers?

  • AJ Bell
  • Fidelity
  • Freetrade
  • Hargreaves Lansdown
  • Interactive Investor
  • Moneyfarm
  • Moneybox
  • Nutmeg
  • Trading 212
  • Wealthify
  • Vanguard
  • Something else (tell us below)

0 voters

1 Like

Yeh this would be freaking awesome

2 Likes

I was gonna point this one out too but I’m late to the party! It’s always Atom!

I think the thing I want most atm, secondary to connected accounts is a summary-esque feature for tracking and predicting subscriptions. Just moved my last one out of Monzo, but would like to still track them in this way.

3 Likes

We seem to be missing Loan providers from this list. Having visibility of amount owed / seeing payment / end dates and potential saving on interest if you over payed to a pot and topped up your payment, using rounds up ect. Real money management and data driven insights

3 Likes

I would also very much like to have the ability to immediately categorise pending payments on connected accounts, as without this ability, Trends ends up always showing wrong figures (as some categories are not counted and some payments need to be split due to being on joint accounts).

3 Likes

I’d like to see connection to Zopa. However, they don’t provide access via open banking so not possible yet.

3 Likes

So some interesting things emerging:

  • Folk are still crazy for more connections - 59% of voters want more more more - compare that to the next two wishes (budgeting and notes) which are on 38% and 32% respectively.
  • But of the top five desired connections (Chase, Marcus, Starling, Virgin Money and Paypal) only two of them have available APIs for Monzo to connect to: Starling and Virgin Money.,
  • Manual accounts comes in fifth position with 18% (compared to 41% for Chase, 32% for Marcus and Starling, 30% for Virgin Money and 29% for Paypal). To be perfectly honest, I thought it’d be higher.
  • But when we push for just one thing for Monzo to do, Virgin Money comes top at 14% with Chase close behind at 13%, tying with a desire for connections to mortgage providers. Are Monzo users growing up and buying property? Just behind is a wish to connect Starling and for note and tags…

What to make of all of this? Here’s my assessment!

  • Frankly, I’d be surprised if there isn’t a Virgin Money connection in development… :eyes: - likelihood to summer 2023: very high
  • I’m really not sure if they’d go with a Starling connection. If it were a standard API then I think it’d be on the list. But it’s not, so they might be prioritising other stuff… likelihood to summer 2023: evens
  • Notes and tags look popular. But I think they’re probably dependent on having a functioning search… likelihood: evens
  • Spilt the bill. I dunno you know. It seems sensible, but will they? Likelihood: low
  • Budgeting on connected accounts. Monzo keeps threatening to rethink Summary and budgeting. No-brainer to do this at the same time. Likelihood: medium-high

Sadly, I think that connections to other account types (mortgages, savings, investments etc) are probably very unlikely over the next year. Especially as Monzo is flirting with the idea of offering their own investments…

That all said, the poll is still open and I might change my mind! Tell me what I’ve got right/wrong in my predictions below and keep voting!

7 Likes

I would really like to just choose last Friday of the month in trends for payday. Everything budgeting is just useless unless or painful until then.

4 Likes

Should one complain to the connected bank if they don’t export some of their accounts? I.e. complain to NatWest and nationwide for not exposing their regular savers accounts?

1 Like

Complain by all means. But I don’t think they are under any obligation to do it.

2 Likes

All UK current accounts legally have to be exposed via Openbanking I thought

I’m not sure about legally, but regular savings accounts aren’t current accounts.

Only from the largest banks.

And it is “via an API” it doesn’t have to be same one. Starling did very custom one / different from all other banks and hence it is poorly supported across the ecosystem.

1 Like