Process linked account transactions like Monzo ones

Hey all,

Firstly, congratulations on the relaunch of Plus! I’m onboard, as an investor I want to help keep things going for you :wink:

The linked accounts feature is nice, but what I think would make it even more powerful is if you could process linked account transactions with more details (categorisation, map pins, etc) as you do for a Monzo account transaction. Given the positioning of Plus as a budgeting power user tool, this could fit well and really increase the value proposition for Monzo as the go-to place for an overview of all financial activity.

Have you considered doing this? (I’m not sure how aligned it is with open banking T&Cs)

I dont think they get geolocation data as that’s normally from the terminal and not transfered with OB. I guess they could auto categorise transactions based on the name? I dont even know if merchant category codes are transfered? I imagine its fairly barebones info.

I dont have plus, yet, could someone show the transaction list and an example of the transaction info?

Other aggregators do enrichment (although not geolocation) so not an issue with open banking T&Cs.

I imagine it just takes some effort as the way the raw data is recorded and presented likely varies from bank to bank.

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It’s barebones. Just the raw transaction info that you get on your statement with the 3rd party account. You can’t tap the transaction for further information or add notes, tags etc


There is some information in the feed.

For instance, I make a regular standing order payment from my Santander account to my Marcus account. I added a reference so I would easily recognise what the transaction was on a statement. However, the Santander app doesn’t show the reference unless I tap the transaction, the Monzo aggregation does.

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Ah ok cool. Might prompt some improvements to general merchant enrichment though. A more crowdsourced way like google maps. Or maybe there are rules about altering that OB data? Although aggregators seem to do this, so probably not heh.

I hope this happens. In the past Monzo have introduced features (I’m specifically thinking Joint Accounts and International transfers), and just left them to wither on the vine. The various Plus enhancements will have to be improved , or I fear that customers will cancel.


I don’t think I’ve seen an aggregator that does geographical enrichment, but some do other aspects of enrichment - e.g. merchant icons, improving transaction name, providing categories and tags, providing notes field, providing transaction history with merchant (basically the same stuff Monzo does with its own transactions minus the geolocation).

Oh for sure, I think that because it’s generating money and constant improvement creates more value and therefore more money, things will appear to improve more rapidly. Bonus being the free account will get drip down improvements hopefully.

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Yep, these things are all possible on my same linked bank account in Revolut today, so there’s definitely enough information in the feed to do more than what’s there at the moment.

Just categorisation and deduplication of transfers/payments from Monzo<>linked accounts would add a ton of functionality in terms of budgeting control.

This seems like such an essential feature, I can believe it wasn’t there on launch! I thought Monzo was trying to be a banking hub, but it’s not even able to match Emma etc…?

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