Display running balance with each entry


(James Billingham) #61

That process is pretty arduous regardless. If you really care enough to bother doing it, you’re already willing to go to great inconvenience.


#62

but exporting a CSV file is a bit techie and we really need a more user friendly way of seeing the running balance so it is accessible to all without any hassle


(James Billingham) #63

It opens into Excel or any other spreadsheet application and can be done entirely within the app without any real technical skill - it’s pretty accessible already.


#64

erm…

  1. We (android users ??) cant… Can we ??
  2. this isnt a rare think… knowing what your balance was at a set time is something every other financial institution provides.

#65

Your telling me you just ‘trust’ all financial accounts you use…

You dont double check them ?? In any way… What the screen says is what you believe ??


(Alex Sherwood) #66

Yes, that’s what I do :slight_smile:

But I think we’ve already agreed that multiple users have your use case so we don’t need to worry about whether or not there should be some way to get to these figures - there should.

I’m not sure how easy it will be able to see any mistakes based on a running balance tied to a transaction record - as you’ve already said, it was a ‘hidden’ transaction that caused your issue. So realistically, I’m not sure how this data can be useful unless you analyse it in Excel.

But maybe you can have both, it sounds like Hugo has a feature in mind to enable you to access this data from the app. And Android will get exports.


(https://youtu.be/5DmYLrxR0Y8) #67

This is an intriguing discussion. I’ve never felt the need to audit my bank. I check the transactions but never the running total. I assume, possibly wrongly, that they won’t get my balance wrong.
There’s definitely a solution out there that fits both use cases.
My personal thoughts are that the app should stay as it is in portrait mode but that a landscape mode adds additional data on the main screen.
A tablet app would allow this info to be shown at all times.


#68

Sure it would.

You would see the jump in running balance, from one transaction to the next.


(Gareth) #69

and

sound conflicting…

I will say the Barclays mobile app does not offer running balance, but they have a full web interface which does. Monzo is seen as a mobile-only service, so the mobile app needs to be able to do more. Going out of the app (CSV) is not leading to the best experience. Not everyone is going to allow open access to APIs.


#70

totally agree on those 2 points


(James Billingham) #71

Uh, yeah. I have never ever double checked.


(Andy Little) #72

I can see what people are saying about using the API or CSV export (CSV not available on android?). But I’m guessing most of the people currently using Monzo are a bit techy or geeky. Looking at it from the point of view of an end user who just want’s stuff to work, Monzo is at a huge disadvantage compared to the other banks. With my main bank account I regularly use the running balance column to keep an eye on my spending and check that my balance is where it should be throughout the month.

Perhaps, when considering any features, it would be best for Monzo to put themselves in the position of someone who knows nothing about banking / finances or technology?


(Tom ) #73

Hold on. People audit their bank? Wow. Now ‘I’m a Celebrity’ has finished, I’ve got something to fill my evenings with again.

But - yeah, a running balance somewhere would be nice. :grinning:


#74

Who knew ?? Keeping an eye on who you trust with your assets is a thing now :wink:


#75

I think in reality, it may all be a storm in a teacup… Because once Monzo becomes an actual bank, with an actual current account… There is no way whatsoever they will be able to not have monthly statements in a more traditional format.

Sure maybe they are in app, maybe they are PDF and mailed, maybe you need to export… But you wont have a current account which doesnt have a starting and ending balance.


(Tristan Thomas) #76

One small comment here: the issues being raised (which are totally valid) are a direct consequence of us not having launched the bank yet and still working with third-parties on a prepaid card. It won’t be an issue when it’s a current account.


#77

Do you mean the issues with invisible items, or the issues of being unable to audit the account with checks and balances ??


(Tristan Thomas) #78

The issues with invisible items :slight_smile:


(Oliver Outen) #79

Another option to this is to display the running balance at each transaction in the transaction tab - thus not cluttering the time line (red line shows card balance after that transaction)


(Ben Green) #80

With the goal of auditing the transaction feed, against each and every single transaction, I don’t see that as being user-friendly. Imagine having to go in, note the balance, go out and back into the next transaction, note the balance. That would get tedious very quickly.

I’d like an automated way of auditing the feed (not that I personally would use it, I just think it would be easier).

Perhaps a marketplace integration between the API and a secure third party app, independent of Monzo, such as Google Docs for example. The balance after each transaction, could be deducted both from the balance as reported by Monzo and calculated by the integrated app, then return a +/- differentiation between actual and expected balances and after each transaction. Basically an automated way of how imagine the manual process of auditing ones own bank account would be.