Surely allowing people to tag a transaction as recurring would work better than automatically detecting some as recurring?
So my mobile pay as you go payment came off today but since it gets charged every 30 days it wasn’t recognised as being the subscription which is set to monthly. I wonder how summary will react tomorrow when it’s expecting it go out.
Would be great if we had more granular controls over timeframes for these 
Can you show a committed spending total on the summary tab, including upcoming and paid transactions?
Have a bit of a mess to report with this feature, though it’s been working great generally. I’ll try and be constructive and as clear as possible.
I have a monthly DD for my car lease, which is due on 28th each month and has previously been predicted in committed spending as a transport payment, it’s also previously been deducted from my summary as unavailable money. So far, so good.
Now, this month, due to the way the timing has fallen, the DD was due to come out on Saturday 28th July, within my last ‘Monzo month’ so my summary balance dropped by the amount of the DD. Problem is, the outgoing payment isn’t showing in Home (transactions) and the payment had disappeared from committed spending, and from my actual balance, so it looks like the payment has gone but there’s no record of it.
To add to this, Saturday 28th July was also the ‘last day’ of the Monzo month for me, due to when I got paid last month. So until my wages go in on Tuesday, I’m in limbo and I have a couple of days on £0 summary balance which has started on a Sunday.
The situation now, it’s Sunday and my Monzo month has started with a £0 summary, but I do have some money showing in my actual balance from last month, though I don’t know if that DD payment is taken into account. This missing committed ‘Transport’ payment has reappeared as an ‘Eating Out’ payment, predicted in my next ‘Monzo month’ and I can’t recategorise it. When I look at this DD payment in my scheduled payments, it’s now showing as due tomorrow (30th July), but I don’t know it’s already been accounted for.
Further to this, should it clear on Monday 30th July, it will be due again within the same ‘Monzo month’, leading to two occurrences of the same payment: one on 30th July and one again on 28th August, both within the same salary period. This is either going to leave me overdrawn for a day, or figure itself out on Monday but I can’t tell.
I think the predicted DD thing may have been rolled out with a few too many unresolved issues, i.e:
- Not being able to set a time period between salary payments going in.
- Automatically predicting categories for DDs.
- The problem with deducting DDs from summary when they’re due on a weekend.
- Actual account balance being lowered by a weekend DD payment, with no record to show it.
- Weekends in general seem to cause a problem with a few features.
Some ideas:
- If a weekend DD payment is due, show it in the Home transaction list greyed out along with the date it will clear.
- Remove the value of the upcoming payment from summary but leave it in actual balance till it’s actually gone.
- As a lot of people are saying, more flexibility in the way salary lengths are set.
- Allow automated categories in predicted spending to be changed manually.
As per several legacy banks, having a ‘pending transactions’ notification would be excellent, to avoid this weekend panic over DDs.
1 Like
I also have similar issues due to the way the spending periods are currently set up. I just don’t understand what the hold up is? Just let us select custom periods please? It really isn’t fit for purpose at the moment, I’m also stuck in ‘limbo’ until this Wednesday 
Surely it would be more logical to allow users to select start and end dates until a better, more refined solution can be implemented? 
I imagine the best solution right now until we get more flexibility here is to reset it back to the monthly cycle but I can’t figure out away to do that yet.
The big list has taken priority the past few weeks so hopefully we will notice some changes coming once it’s iorned out.
Yeap, I would prefer to go back to normal months too rather than having to use a feature that really is half-baked in it’s current form. I know Monzo are working really hard but I feel these type of fundamentals should be there prior to releasing these features. It renders a large section of the app useless.
Apologies for being blunt, but we seem to be seeing a lot of sneek peaks and updates for other nice things but not much on this front or an ETA 
2 Likes
I had to sent myself £200 on the 1st of the month to reset it back to a monthly cycle. Although that now means my ‘salary’ isn’t flagged and the amount isn’t hidden when it comes in.
As another work around could you set a overall budget which is = to your salary?
It’s a shame summery can’t work out that when your payday falls on a weekend you will get paid working day before I’ve just noticed this month, other finance apps such as Emma are able to do this!
Two things that confuse me about the spending tab:
-
Can you total the spending & committed spending totals like you do with income and starting balance? Or is there somewhere already doing this?
-
I transferred say £1k from a pot into my main account and then from there into an external savings account (this would be better if I could transfer straight from the pot or if the pot had an interest rate), which shows £1k in income from pot, and then £1k in spending (to savings). If I exclude the transfer out from summary it says I’ll make my target for the month and if I include I’ll be out of money. What’s going on here?
1 Like
Not quite sure if I fully understand your questions in 2. But if you have £1k in a pot and say £20 in your account summery will always say you will run out of money! even though you have more banked with monzo if that’s where you were going…
1 Like
Are there any plans to add more sophistication, or more options, to predictions for committed spending?
Using the previous month for predictions is fine for certain types of committed spending (e.g. utility bills, subscription services), but I don’t think its appropriate for credit card payments. Average spend over a certain number of previous months would provide more useful prediction for credit card payments, in my opinion.
3 Likes
Hello in the budgets summary it lists the section, spending, commited spending, income etc but it does not show my wages in the income section. I have looked at my wages coming in last month and I cant see a way to tag it so it shows every month in the income section. Is this possible?
Does it not show in the transfers category in income?
Nope, its weird, when i click on last months salary transaction it only show a tag/picture and a custom label. Plus the improve name and something wrong buttons. There is no other info like there is on other transactions
Actually I know why its not showing, it only shows when it comes out by the look of it and not as a prediction so the summary total is not correct for the coming month then. Guess it is not recognising it as a regular payment.
Don’t see the point in this section then. If it doesnt show your wages as an income prediction then the figures are all totally wrong.
At the moment, it’s set up to assume that your wages arrive on day 1 of the summary period. That’s why it keeps asking to highlight your pay to setup summary. By this definition, incoming pay will never need to be predicted since it’s supposedly there for the entire summary period.
Maybe the definitions will be loosened a bit with the coming enhancements, I don’t know.
Why does Monzo still predict my Spotify sub to be £5 when it hasn’t been £5 since September 2018? Surely this should have updated to reflect the new amount?
1 Like
Untick the Repeating Payment and activate it again on a more recent transaction. I’m pretty sure it ‘predicts’ when it’s going to happen rather than the amount.
2 Likes