Hi, is it possible to create custom categories to put transactions under? For instance I’d like to have one specifically for some transactions I spend at a particular site with a few shops and currently I have to use a random category that I don’t use very often.
If not, is this something that is planned in the backlog at all?
Not yet. You can use tagging for this. There’s been a lot of debate around how to improve categorisation however I don’t think any solutions or improvements have been fully fleshed out yet
I have two questions! I often transfer euros to pounds and always do it outside monzo. Will it be possible to accept euro payments in monzo soon without fees?
The other question is about rewards. I currently do almost all of my spending with a credit card because I get air miles. I would much prefer to use my monzo card so I can track my spending more easily but I would miss out on too many miles that way. Do you have any plans to introduce any airline partnerships or a reward programme of some kind?
You currently can although I’m not sure what they fees are as of yet… since inbound euro transfers are new they may bounce back to the sender but it’s worth a try if you’re willing:
There isn’t anything in the pipeline that I’m aware of unless Monzo know anymore, rewards tend to be a loss leader for many banks and thus it’s probably not economical for Monzo to offer them directly. A partnership could arise though their marketplace though, who knows
Interestingly, we were just talking a bit about that over here…
I see Monzo as ultimately not wanting to be a bank - odd as that sounds. As banking services become commoditised, Monzo is, I think, seeking to own the relationship with the customer and become the platform - the thing that aggregates customer demand and mediates banking / financial service supply. A bit like your favourite App Store with a nicer interface and great ways of managing your money.
Could you offer functionality to scrape funds into a pot on a set day? I move any left over cash I have into a savings pot on the day before payday and it would be great if I could have that automated either in the app or via IFTTT. Thanks.