Hello all!
If, hypothetically speaking, you were delivering a talk at the international MoneyLIVE Retail Banking conference in Madrid this year about Monzo x IFTTT, what would you talk about?
Asking for a friend.
Thanks,
Kieran
What would be really helpful would be triggers to remove the exact amount spent from a pot after a transaction with a particular merchant or category.
Balance sweep so when wages go in anything remaining from the last budget period goes into a pot
% options, when x payment is received 10% goes to this pot, 20% to this etc
Honestly the (Automated) 1p Savings Challenge. I managed to save hundreds of pounds without noticing.
This too.
And also an IF Payday trigger please. 
Oh, and it would be nice to see IFTTT automations appear in the Monzo app along with scheduled payments.
When balance is x move money from a pot.
I’ll answer the rest as well
Open banking, yes I understand the concept but it seems to be something others control while IFTTT is something I control. I found it fairly easy, just mess about til it works, not something that takes a lot of skill for the basic ones.
Uses - I do the weekly savings challenge. I have other ones set up but deactivated for things like if the temperature drops below 0 add money to winter heating pot. Hope to use that one next winter.
Really hope more is added as it has the potential to be amazing
Joint account integration.
An applet which moves the amount not spent in a budget at the end of a Summary period into a pot.
If incoming payments above £X.
If Direct Debit X goes out.
If any Direct Debit goes out.
X days from beginning of new Summary period.
If outbound transfer over/under £X sent or received.
If a transaction in category X occurs.
If tag X added to transaction.
If Main Account balance greater/less than £X.
If goal met for pot X.
If amount in pot X falls below goal.
If Spent Today greater/less than £X.
If payment made in country X (or If location in country X).
If non-UK payment made (or If not in UK).
If pot balance greater/less than £X.
If budget for category X met.
If pot is unlocked.
Percentages and ratios.
Move all money from Main Account into pot X.
Add notes to a transaction.
Add tags to transaction.
Change the category of a transaction.
Freeze/unfreeze card.
Exclude payment from Summary.
Empty pot X into Main Account.
Create feed item/notification saying X.
Move £X into joint/personal account.
Deposit £Y every X days/weeks/months/years into pot Z.
Withdraw £Y every X days/weeks/months/years from pot Z.
Send Bill Split request to person X for Y% of transaction.
I think some of these triggers and actions could really help automate budgeting for some people.
To keep it simple, IFTTT to me encourages the whole thinking behind/before spending, and turns a number on a screen into something “usable” without always having to spending it. Moving x to a pot just because I walked the right amount of steps, or to get my lunch spends pot moving over a few quid when I’m the office. Most of the uses of IFTTT is being able to use your money and reward yourself without actually having to spend it, well that’s my view of it currently anyway!
Really easy to use for me and the moment it gets opens up with more triggers & actions it will definitely be an even bigger feature for many people.
I’d love to see “payday sweeping” - which moves my balance before my pay packet into a pot - in some form, whether enabled by IFTTT or some other mechanism. Attribution to @Sherlock for putting the idea in my head with this tweet.
Hi, I posted this on another thread and it was suggested I posted it here too.
It was pay day today and my IFTTT automation worked a dream.
• I had my salary come in
• Standing orders go out
• Savings into my savings pot
• Bills money into my bills pot, then this will automatically move back to my main account when the bills are due.
• Disposable into my pocket money pot, then a fifth of that back into my main account. This will happen weekly up until my next pay day.
Feels good to have complete control of my budget for the month.
This. The order of automated transactions can’t fit everybody’s purpose, but the use of IFTTT allows us to time certain transactions to ensure things happen in the right order
Other uses i have for IFTT
Novel idea - when i spend at McDs send me a notification shaming me.
Useful idea - whenever i post a run on strava, add 50p to a ‘running shoes’ pot
Hey @kieranmch - Pass on my good luck to your hypothetical friend with this hypothetical talk… 
Here’s my take:
How has IFTTT helped you?
Honestly? It hasn’t. I played around with it, but I don’t use Monzo as my spending account, so the functionality is limited.
Is it easy or hard to use? Do you really care about it?
The simple “pre set” things are definitely easy, and the custom rules are relatively simple to set up - Although looking at the IFTTT thread, there are a lot of people with various issues.
It’s certainly not something my fairly tech savvy parents would get.
Do I care? Currently - No (because I don’t use it).
What are the best use cases?
N/A
What would be amazing to add in the future?
A wider variety of triggers would help - But some type of integration with American Express (or other credit cards) would be really useful.
Realistically, people using Monzo as their main bank are likely to spend money on their Monzo card, or a credit card (for the additional benefits e.g. cashback, reward points, section 75, interest free etc etc).
If there was a native “Move X from Monzo main balance into American Express pot when X is spent on American Express”, I’d definitely use it (I’ve seen a work around recently which looked good, but required manual input I think).
Do you know what “open banking” is? If so, what’s the difference between IFTTT and Open Banking in your view?
Open banking allows you to view your accounts in different places (other banking apps, account aggregators etc etc). However, this doesn’t really add any different functionality to your existing bank account.
IFTTT adds “features” to your bank that you can customise to your liking - Essentially, it means every customer can set their bank up slightly differently, depending on how they budget and spend.
So rather than one plain account - IFTTT offers bespoke bank accounts with fun and interactive integrations which make it more valuable to the end user.
At least - That’s how I’d explain it to someone if they asked!
Good luck with the talk 
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