Refund allocation 1


(Lee Martin) #1

Hi,

I have just received a refund for an item I purchased last month, but now that it’s refunded it is accounting in this months spending targets.

It would be nice if there was a way to ‘allocate’ the refund to the correct month/purchase so that my spending is a true representation of my months spending.

This my be an overkill feature, but I use Monzo as a budgeting tool and in This current process it’s becomes a little more difficult to see my total spending per month.

Lee


Incoming payment to negate spending
Refund allocation 3
UBER (Active card check)
Refund allocation 2
(Alex Sherwood) #2

Refunds have a number of knock on effects at the moment, in addition to the one you’ve mentioned

Monzo are actually trying to match refunds with payments automatically but it’s a work in progress

Your issue was also raised here -


Display running balance with each entry
(Alex Sherwood) #3

A couple of suggestions for ways that refunds could potentially be dealt with from Simon -

I’d like to see option 2, as missing transactions (option 1) could cause confusion for some users. Option 2 maintains the complete, visible record of all transactions & solves the spending / targets etc. issues :thumbsup:


(Simon Tomes) #4

Thanks for sharing this here, @alexs! Option 2 is also my preferred option given the choice. I like the transparency.


(Jamie) #5

Agree with this, option 2!


(Darren) #6

Can we have a way to deduct incoming payments from the spending targets? I went for a meal, split the cost 2 ways after paying on my monzo card but my spend still shows twice what I actually spent.


(Alex Sherwood) #7

Yes I’d keen to see that functionality in the app too. The team are working on it -

Click the :arrow_down_small: in the top right hand corner of the below post, to see the comment that Hugo’s replying to.

hopefully it’ll be added when version 1 of bill splitting is launched :pray:


(Jad Rahme) #8

When I get a refund on Monzo, it is counted as a positive change in my spend. E.g. If I spent £200 for the month but I got a refund on that £5 transactions I did, Monzo will recognise that I actually spent £195 that month.

This is not the case for users payments (from Monzo users or non-Monzo users paying me via the Monzo.me link). Many times because of how easy it is to pay someone via Monzo when I buy tickets or anything that should be split, I usually pay the whole amount and then my friends pay me back through Monzo or Monzo.me links. It’s just easier. The issue is that my spending report is now constantly incorrect because it doesn’t account for payments.
E.g. We are a group of friends going to the movies. Let’s say a ticket is £10 and we’re 5. I’ll buy 5 tickets and my four friends will pay me back £10 each. Monzo considers I spent £50 while I actually only spent £10.

Does that make sense?


(Abi) #9

I would love to see this feature added too! I love my new Monzo card but having paid for hotel bills etc and then split with Monzo and non-Monzo pals, Monzo told me my holiday spend was £550ish, where as it was actually nearer £300. I look forward to this getting sorted :slight_smile: