Hi @avb great to see you here. Can you share if there’s been any progress on the idea of automatically moving funds to a pot to pay a credit card? It was discussed quite a lot a few weeks back.
I spend £50 on my Amex, and Monzo automatically put £50 into my Amex pot so it’s ready for the direct debit at the end of the month. Currently I do this manually and it’s a bit annoying, but I’d love to be able to automate this with Monzo and would happily subscribe to Plus for it.
We’ve not started building this, however it is something we’re considering picking up at some point. We have explored what the hardest parts of it to solve would be, which is mostly ensuring we always set aside the right balance. Due to different banks making new transactions available to us at varying different timescales, and that direct debits paying off your balance may show up before or multiple days after them leaving Monzo, it can be quite tricky to actually be sure the money we set aside is the right amount to pay off your balance. If we build this we want to be 100% confident that it is always going to set aside the right balance for you, so this increases the amount of time it will take us to build it quite significantly
There’s strong desire for some Dashboard style templates, to make the most use out of it.
Can there, eventually, be an option to export connected account data too?
Is there potential for more meta-data to come in the sheet? (contactless, apple pay, card transaction types, etc, or other potentially analysable data).
The Time field in the sheet - is UTC - it means for analysis purposes some time based analyses get a bit wonky - could this be actually set to UK local time?
Can Split Transactions be managed differently via the data output - analysis is very hard to do in it’s current form
Can Monzo publish a “If Cell in Google Sheet is Update > Move money into/out of a Pot” applet?
The reason for the latter; IFTTT now have a paid plan (at $10/m!) which means the free plan has a limit of 3 custom applets, but unlimited published ones. That applet is the most powerful one for pairing with Plus - but it means Free (IFTTT) users would have limited ability to use it, unless it gets published. Publishing it could appeal to more users basically.
Now I better go do some work, I don’t think I can make browsing the Monzo forum sound like part of my job.
I support Monzo from the very beginning. I didn’t like the fact that they charge for features that would make Monzo much better product if they were for free. That’s very disappointing.
Monzo should come up with a better plan and create Plus features that really have value (e.g. insurance, cashback, special offers, etc)
If it’s still travel oriented, I’d be very surprised if they’ve not tried to pivot in some way, by adding value elsewhere. Travel stuff can always be added to the list of feature later.
The landscape right now just isn’t suited for such a product, and I fully expect things will be like this a a good while yet. And how longer after things improve before the masses actually start to feel safe enough to travel again?
Lots of hard work and there are possible problems like number exhaustion mentioned above, but unifying accounts would solve a lot of the thorny issues monzo have made for themselves and all the questions asking why can’t I do that with this type of account, and it would potentially provide extra selling points for plus if certain features like an account number or vcard for pots were held back in plus.