- Putting control over categorisation back into your hands.
- Maximise earnings from points. I make £100s per year but this could be much more if Monzo gave me access to my MCCs.
- Assist in identifying transactions where the merchant doesn’t provide a descriptive name and Monzo’s team haven’t added a proper logo, name or location yet.
If Monzo is about empowering users why hide so much information? Is there ever a good reason not to allow us to easily see the MCC for each transaction?
At the moment there are a lot of people who find Monzo’s auto categorisation to be unhelpful or inaccurate at times. By giving us the information they use to do all this automatically, it will give users more choice and precision about categorising their spending and help with things like budgeting and trends.
The information is already there just massively oversimplified. Why not have to option to delve a bit deeper with say a tap on the automated category? I can’t see this doing any harm in any circumstance and many people would find it incredibly useful (especially as the data are there waiting to be used).