Payslip Breakdown


(Ben Green) #1

This idea isn’t applicable for the current feature set, but when launching the current account. I’m just putting it out there as a possible built in feature of Monzo, but more likely third-party integration.

I’d really appreciate being able to break apart payslips into their separate items (salary, pensions, student loan, expense reimbursements, etc).

At first this could be done the same way we’re discussing breaking down receipts - with OCR, but I can easily foresee an integration with leading payroll services where the data is automatically updated without the need for action by the employee.


(Alex Sherwood) #2

That sounds good, how would you use this information once it’s broken down?


(Ben Green) #3

Well, as Tom as said on several occasions that Monzo wants to be the hub of our financial lives, without necessarily providing all of those financial products, I think it’ll be a step towards tracking the balances of our pensions, student loans, etc.

One possible alternative might be integrations between student loan / pensions providers and Monzo, which is probably an enormous amount more work for those third-parties take much longer.


#4

Even on PAYE it is useful to check how much tax and national insurance paid as tax codes can change part way thru year, marital status, etc and when doing your self assessment at the end of the year you need these details. I have had returns on many occassions where employers have over-deducted.