Summary - Feedback thread

So if I’m correct at the moment, the pots section calculates what you’ve put into pots over the duration of the summary period? This version calculates how much you’ve withdrawn and offsets it against how much you’ve added?

It’s not reliable yet…
When I got paid by my usual employer I got that notification… then a few days later I got paid my deposit back from an estate agent and it told me I had been paid again :see_no_evil:

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Recently Emma the account aggregator released their payday feature. It asked me a series of questions to determine as accurately as possible when I’d get paid. Questions such as are you paid on a fixed date, every 4 weeks, weekly, etc, then it asks you if the date of payment falls on a weekend do you get paid, working day before, after or no change. I didn’t find this experience confusing in the slightest. I hope monzo implements something like this.

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I noticed this… I have no idea why Monzo haven’t done that… seemed simple and easy… now the system knows when I get paid :slight_smile:

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Yes, it will offset it against how much you’ve added. Hopefully, with this version, you should be able to spot quickly how much you’ve added and withdrawn in total as well as how much you’ve added and withdrawn for each pot during the summary period.

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Something like that would be handy on the actual accounts / pots screen along with a list of transactions.

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Any idea on timeframe?

coming soon :stuck_out_tongue_winking_eye:

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I’ve never seen the payday notification… but then anything that relies on me being paid on the same day each month is going to fail. I get paid at the end of the month, when they accounts guy does it, which means it varies by 2-3 days a month, but almost always on the last week of the month (except christmas when it can be up to 2 weeks early).

It would be clearer but I don’t like the sideways scrolling. If I’m already scrolling vertically through the summary I’d like it to continue that way for Pots the breakdown. Perhaps this is something where the “More” button would be suitable?

On a side note, it would be great to have these smaller profile Pot Cards on the Account screen where the Pots are managed.

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A further confusion over setting an Overall Budget…

Ideally I’d be able to set the budget to be the total amount I can spend in a month, like the old Target was. But the Budget doesn’t include Committed Spending. OK, so I’ll manually subtract what’s listed as my Committed Spending for the month from my total budget, and then set that as my Overall Budget.

BUT… I didn’t realise the Committed Spending amount can change during the month - for example, I have a direct debit for a subscription which goes out irregularly. So now, every time a payment goes from my account I must: check if it’s listed in Committed Spending; if so, work out whether it’s new to this month’s Committed Spending (how? manually keep a list somewhere?); if so, reduce my overall budget by the amount of this payment.

This seems suboptimal.

@philgyford Is it completely irregular with no pattern at all? If there’s a set number of days between these, you can enter this manually (at least in the beta app). If you tap on the transaction from the Summary page (not your feed), the “Exclude from Summary” switch gets replaced with “Repeating payment” and under that, you can specify how many days/weeks/months is between each payment.

For example, by clicking on my bus ticket (which wasn’t under Committed Spending originally as it wasn’t paid via DD/SO) through the summary, I was able to set it as Committed Spending with that amount to be predicted every 30 days as opposed to every month.

https://drive.google.com/open?id=1FhjaDWRU9Ln36AfiKxa-gp9Q4UTes3qg

Hope this helps! :yum:

Thanks @rhebden. I don’t have that in my app yet. Because I like to avoid using experimental features. Ideally…!

The payments are usually every quarter, although looking back over past years (when they were from a different bank account) there are occasions when they’re on a day a week or two later for some reason.

I wasn’t sure if it was live yet (I signed up to beta because I enjoy playing around with the new stuff), sorry :sweat_smile: but I know what you mean - it can be frustrating at times when things don’t work exactly right, especially in a banking app - but I signed up for it so them’s the breaks!

I stumbled on this option totally by chance and immediately thought of it when I saw your post. Sorry I couldn’t be more help, hopefully it comes out soon (so you can at least set it to every 3 months to avoid it popping up every month and ruining your budget).

I wonder why the dates have been so wonky, though…

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What is currently the minimum incoming payment amount that Summary considers a salary pay?

Overall budget is working great for my needs, now I only need to manually reset my budgeting period to the first of the month (tomorrow).

Edit: just found it, it’s £200

YES. So frustrating that we can’t do that! :confounded:

I am having exactly the same issue! My pay day is always the last working day of the month and it only changes if 30/31st falls on a Sat-Sun. Monzo’s systems need to be smart enough to accommodate this change and adjust summary/targets accordingly!

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Not sure if this is a bug @Jami? My month has just reset so my committed spend is showing for this month, however my DVLA payment for my car tax is showing under ‘Bills’ although it’s always been categorised as ‘Transport’.

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None of my direct debits have been categorised this month. They have all defaulted in Summary to General. :frowning_face: Standing orders unaffected.

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My “left to spend” figure includes a direct debit which I have moved to another account. It does not appear under “subscriptions & direct debits” on the scheduled payments screen, so Monzo definitely knows it’s gone.

Anyone else noticed anything similar?