Transactions that don't count towards monthly spending

I would like the ability to have some transactions that don’t count towards my monthly spend. e.g. I pay for someone and they pay me back. What I paid for them still counts towards my monthly spend currently, and makes tracking my monthly budget harder.

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There is already discussion around Custom Catagories

What you propose with not adding up to monthly spend has been discussed elsewhere.

On the 1st of Dec I accidentally topped Monzo up with £500. I immediately transferred £400 of this back into my traditional bank account, however, now Monzo has recorded my expenditure for that day as £400 - which isn’t entirely correct and does not reflect my spending habits. The app has been good at monitoring this so far.

It would be great if you could remove transactions from your feed or hide them - or something to avoid accidental top ups becoming anomalies in an otherwise carefully organised feed.

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From a business perspective, I doubt they’d want to make this happening less irritating for you. Remember that this cost them a significant amount in processing fees, thus it would be in their best interest to remind you of it so you’re less likely to do it again.

True. For that reason I think it would be beneficial for the app to give you warnings when you are making large top ups. Or for the app to have a limit option for single top ups unless you enter a password or something.

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But “large” is subjective? And (debateably) having a pop-up for every user action to get confirmation is a worse UX.

The same issue manifests when you transfer :moneybag: into your account via faster payments and then transfer it on somewhere else. So I would like a way to handle this well generally

“Large” could be determined by allowing users to have custom limits on their account i.e. if your limit is 100 then anything above that is large. If your limit is 1000 then anything above that is large. This would keep the UX nice and clean.

In my case, £500 was a large sum of money as I only ever top up my account with £100 or less at a time - unless.

I now realise that instead of transferring the money back to my traditional bank I could have put it in a pot. This would have meant that transferring the money back wouldn’t have counted towards my daily expenditure, however, this isn’t ideal.

I raised this way back in August when I first started in the preview and COps said it would be fixed with time and you would be able to decide whether a transfer should be counted towards your spending or not so I’m hopeful this is in the works.

As a side note, does salary being paid in still wipe out your targets as it receives it in the same way as a refund, or? I stopped having my salary paid in as I get paid on the 19th of each month and it would completely wipe my targets.

For the last couple of months, Salary has had no impact on the total spend on the iOS Targets tab for me (if that’s what you mean).