Monzo Plus and IFTTT

Monzo Chat Monzo Plus
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For me, the big surprise of Monzo Plus has been the connected Google sheet. Linked with IFTTT, this has been really useful in doing all sort of little things - especially sweeping my salary into pots automatically when received (and with no manual intervention necessary), keeping my balance ending in 00p at all times.

But with IFTTT now becoming chargeable, I won’t be able to use it any more. While there are just two use cases in my list above (salary sweep and keeping balance at 00p), there are actually ~20 applets as I need a separate one for each pot.

Which brings me to the point. As I understood it, Monzo was paying IFTTT for the privilege of being on their platform. IFTTT is now coming for a double dip from their users.

This, and (what are rightly) the inherent limitations of IFTTT, such as not being able to initiate an external transfer, makes me wonder if now is the right time for rules to come to Monzo as part of Monzo Plus.

I’d like to see:

  • Rules for transactions, balance and payments in and out (for the current account, pots and connected accounts).
  • Actions that include movement to pots, external transfers, adding notes or tags, changing categories, creating receipts etc.

Some examples would be:

  • When I receive my salary, add a tag of #salary and make sure the category is Salary
  • If my salary is > [specified normal value] move [salary payment - normal value] to a pot
  • When I receive my salary, move to pots as specified
  • When I receive my salary, move £x to external savings accounts
  • If balance < £20 move £20 from my emergency pot to the current account
  • When I spend on my credit card, automatically pay my credit card that value, and add a Monzo note / receipt with the information from the credit card transaction, picked up through open banking

I’d also like to be able to have Monzo pick up documents from Google Drive or via email and automatically attach them as receipts - so my payslip to my salary transaction, my electric bill to my direct debit payment… (But I’m not sure how that’d work).

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Where has this been said? I must have missed it. Seems like another kick in the balls along with Connected credit cards and Credit report and custom categories…

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IFTTT has been inundating me with emails for the past few weeks.

To be clear, it’s not Monzo who is making it chargeable, and it doesn’t affect every IFTTT user.

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This is an IFTTT thing; they are keeping a free tier but it is only for 3 custom applets - if you’re using Google Sheets to Do Things in IFTTT, there’s a good chance you’ll need more than 3.

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By the time I could use IFTTT with my Joint account, IFTTT, Monzo or I will have folded.

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I too would like to understand Monzo’s plans / vision for IFTTT now Pro has been announced. (Btw, if you sign up for pro before 7th October, you can get it for $1.99 / month, for life. After that it’s $9.99).

I think there’s this whole catch 22 about to happen of; There’s not enough Monzo users who end up using IFTTT in anger, so Monzo stop developing for it, so there become fewer users who use IFTTT…

One thing that would help, would be Monzo making a significant effort to build in more native triggers and more published applets of their own (these are still free and remain free, in IFTTT).

And for a lot of Monzo Plus users, the single most helpful thing Monzo can do would be to Publish a blank “If a Cell is Updated in a Sheet, Move Money into a pot” (and I guess the equivalent reverse feature). - and that would help most of us just using IFTTT with Monzo Plus out.

[Will come back to this thought as I have an idea!]

Some of the things I’ve really enjoyed with Plus and IFTTT are:

  • Salary Sweep: On the day my salary is paid in, move the remaining balance to a Pot (or equally move the salary to a pot).
  • Proper Advanced Roundups - doing what Plus do but more/better…
  • Keeping my Balance to £X.00
  • Every time I spend at [my big list of coffee shops] move it from my Coffee Pot & Send a judgemental notification (note: with the new Querys feature of IFTTT pro, I think you can make notifications conditional too)
  • Move money at a certain time of day, when other conditions are true (If Balance below X and it is 6AM, move money, etc).
  • Make sure my main balance is always 20% of my total account balance.

So my first ask, nay beg, from Monzo, is please make a couple of applets for Sheets > Pot, to save users leaving IFTTT.
Second ask is make more triggers and published things in IFTTT, generally.
Third is do it natively :slight_smile:

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So this idea: I think from a conversation with @revels before now, we discovered that private applets made in Platform do not count towards your “3 free custom applets” count.

I’ve just made within Platform a “If a Cell in Google Sheets updates…” trigger to move money into and out of a pot - exactly the same as if you created it yourself except it doesn’t trigger the Free limit. (As it’s seen as published).

If any one wants to try and add these - you should see you “free applet” count remain static.

The applets are basically the same as if you went into Create mode and connected Google Sheets to Monzo. There’s no filter code or any other actions involved.

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I’m not sure IFTTTs decision to charge it’s users can really be thrown at Monzo in the same way as the other stuff mentioned. When they put their integration together, IFTTT was free to use. I doubt they got a say in IFTTT changing their financial model.

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Yeah that’s fine if it’s nothing to do with Monzo, I had thought they were talking about putting IFTTT under Plus. Not anything about IFTTT introducing charging. It would be crazy to blame Monzo for IFTTT charging.

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