I’d like to have the ability to add new categories and subcategories of the existing categories.
The auto tagging for categories is great for those that want a simple tracker of their spending, but for those of us who want to track it to a more granular level, this would be a good feature.
For example - eating out… I’d like subcategories of brunch/lunch/dinner/coffee/drinking out
Also the feature could allow users to say such category should be used for all future purchases from that merchant, ie auto at the moment would track Starbucks to ‘Eating Out’, I would recategorise to ‘Coffee’ under ‘Eating Out’ and want all future purchases at Starbucks to be categorised this way.
Welcome to the community. This is a very commonly requested feature & one that is being worked on.
Here’s the thoughts of the Head of Design at Monzo on this -
in the meantime, I recommend tagging your transactions using emoji -
Following on from this point -
The challenge here is that you’ll use some merchants to purchase different types of items. For example, you might go to Boots each day to buy your lunch but if you’re visiting the store in the evening, you could be buying toiletries.
So the app already tries to be smart when applying categories, which sometimes causes different categories to be applied unexpectedly. The aim here is to get as close to zero manual editing of entries as possible.
That’s why it’s useful to get a notification for each transaction, it’s easy to go into the app & review the category. It’s not perfect but hey, the product’s still in beta.