Round up your Monzo purchases automatically!


(Ben) #105

So to answer my own previous Q about the API and IFTTT integrations, in case anyone else was wondering…

IFTTT

So if you use IFTTT to log any transactions to a Google Doc / elsewhere, it seems any transfer to a pot is not recorded anywhere.

Transactions that are rounded in the app feed, show up as their actual amount when IFTTT’d, but there is no associated transaction

API / YNAB

Within the API (and my use to sync the data to YNAB), the transaction pre-rounded is recorded as is, and you get a second transaction for the transfer to the Pot.

That’s probably as you’d expect - but FYI if anyone uses any of these things.


(James Wheatley) #106

Just checked mine again and all showing rounded up, guessing :monzo: are experiencing delays after releasing the new functionality to Pots.


(Ziad) #107

I’d prefer it if the coin jar amount was taken after the rate settles for foreign transactions.


(Matt Richardson) #108

I’ve been thinking about this update over the last few days and I’m tending to think that it’s quite poor from Monzo to directly put into my (others) summaries, the rounded up amounts.
I love how proactive Monzo is, but it needs to offer the choice of whether to have the auto rounded up transactions visible as an option, not as standard.
Monzo have got the gist of rounding up the transactions, it’s a great feature and can easily save £40 a month without realising. But there’s some basic UX / UI that’s gone amiss by pushing this new feature out as they have.
Have you ever analysed your transactions in a rounded up sense? Does it look normal that you’re ‘statement / sunmary’ has all rounded up figures? Just because it’s not been done like that doesn’t necessarily mean it’s right, or works or that Monzo should do it different. For me, I’d switch it around. I’d take the amount spent as it is and then when you click on transaction it’s got the Coin Jar amount below. You’ve spent, what you’ve spent. The Co-op haven’t took a rounded up figure, it just doesn’t make sense to me why you’d think in that way.
The Spent Today tab at the top is now my go to to see how much I’ve spent as the figures in the Summary are actually inaccurate.
Really hope Monzo look into this quite quickly, it’s the first thing they’ve done since being a member in which I’m being quite abjectly different against.


(Jack) #109

I view it as the the total of two transactions and when you click on that it shows you the underlying costs of each underneath. In a parent child scenario.

Not sure if I’ve explained that well at all.

I like the feed to be as clean as possible with the option to click an item for more info.

Out of interest does anyone know how Lloyds save the change feature displays it on a statement/in app?


(Toby Toller) #110

If anything this needs the unrounded figure to show. The spent today figure doesn’t include the coin jar transfer, as that money has moved into a pot, not spent


(Sacha) #111

Is it just me or is the feed sometimes slow to update with coin jar roundups?

Went to buy breakfast earlier, saw the transaction in my feed (unrounded), clicked on it (no coin jar roundup showing). But I knew my feed had included the roundup in my overall balance. Took quite a few clicks around the app to get it to finally show correctly.


(Jack) #112

There is a slight delay which I’ve noticed. Don’t worry it’s not just you. Hopefully it will improve over time :slight_smile:


#113

Looks great!

I agree with some of the comments. I’d like to see:-

  • Fanfare on completion
  • Greater visual indication of completed goals
  • A text percentage progress.

I loved the idea about using pots to track money that people owe you. Never thought of that.


#114

I quite like the idea of incremental goals. So for a holiday goal add how much you need for flights, hotel, rental car, spending money and so on and the goal splits into sections. You get a little notification each time you reach one of these goals. Kinda adds a bit more incentive for a bigger amount of money to save.


(JD) #115

Agreed. I wouldn’t even mind drilling into the transaction page to have to see the contribution to another pot — I need the actual spending, not the loose change addition :grinning:


(Liam Corbett) #116

I’m loving this feature already, I had it with my Lloyd’s account and was gutted when I went full Monzo and lost that feature but now it’s back and love this discreet way to save money


(Michael Jenkins) #117

I think the little icon is too small. I can just make it out on my screen.

Like most people in the survey above, I would prefer round up values shown under the main amount, as per foreign transactions. They could be differentiated from fx by putting the round up amount in a grey or coloured box / lozenge element - like the joint account element on the joint account cards


(Ian Turnock) #118

To echo others comments I don’t like seeing rounded up amounts. It just doesn’t reflect what I spent with each retailer. Really like the coin jar idea but have had to turn it off because if this.

Personally would be better to just see the actual transaction amount in the view and the coin jar amount in the detail. They are displayed individually on statements so no issue there.


(Jonathon) #119

From past experience they take one transaction out at the end of the day, adding up all rounded up transactions.

I liked that concept.


(Sam) #120

I just bought at a stamp at the local post office and noticed that the transaction wasn’t rounded up (but my visit to Poundland shortly after was). Is there any specific reason the Post Office is excluded? (if it even is).


#121

If your purchase was less than £1 it will not be rounded up.


(Sam) #122

D’oh! Thank you - completely forgot about that.


(Jolin) #123

I’m exactly the same. I tried to live with it since the launch of the combined transactions, but a couple of days ago I had to turn off coin jar for the first time since it went live. :cry: I got momentarily confused too often when looking at my transaction list – once I almost complained to a merchant about debiting me too much but realised in time. That would have been embarrassing. Agree that only showing the coin jar amount in the detail would be fine. It’s easy enough to mentally round transactions up.


#124

Not sure how practical it is to implement, but my preferred solution for this would be:

    1. Display actual amount for the original transaction
    1. Show amount for coin jar / pot in separate row
    1. All further amounts for rounding in the same day are grouped up under the same, single line for coin jar.

This way, the totals all add up, you can still clearly see the amount originally paid - which others have said is important for their budgeting etc. - and the amount moved to pots is showed separately, but grouped up to avoid having a new line for every transaction. I expect that even having one extra line each day is too much for some people though.