Trends - a big update to the Monzo experience

I was off last week, and this week, so I’m not even sure what’s coming…

:eyes::soon:

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This is actually a very difficult challenge because legacy banks don’t move from pending to a presented payment. Instead, they just delete the pending payment and add in a new payment with the correct details. Meaning if we let you categorise the payment we might mismatch your payment (or if you have 2 similar payments at the same time merge them :twisted_rightwards_arrows:)

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Still banned from the staff beta version, eh? :eyes:

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This is really interesting, and I’ve always wondered about it. Thanks!

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I never was banned.

I’m Android now … so no Apple spoilers no more.

Android however :eyes:

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Seeing as 99% of the time (statistic based on my own opinion and experience with no shred of other evidence to back it up) the final payment matches the pending payment merchant and amount, shouldnt’t it be easy enough to program the logic of matching it in-app?

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(I’m not in the team that works on this so this is anecdotal)

It’s going to be the 1% that’s the worst though, imagine you put all your categories in, etc and suddenly 3 days later they are gone. If we had notes, bill splits, etc on connected accounts and they just disappeared into dust because your bank changed the transaction under the hood. It’s better to offer a consistent experience that is a little annoying for a few days than a broken one (, and 1% of daily transactions is going to be in the hundreds of thousands of transactions so still a large number of customers that would be impacted)

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The philosophy regarding trends is a good one. I see the great value and the usefulness when viewing previous months and year comparisons.

Sadly it is still so much in its infant stage and has remained that way since roll out.

My biggest problem, which I feel could be rolled out quite easily is 28 day, 4 weekly cycles for resetting the trend date, which has been around in summary for ages.

Hopefully it will be in this big news update this week? Until then I’m going to hold my breath :disappointed_relieved:

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Amazing detail, thanks for going into the weeds with the response. I figured it was one of those things that “sounds” easier than it really is :slight_smile:

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Good points, thank you for elaborating.

One of the most important limitations of Trends for me is precisely the fact that pending transactions from connected accounts cannot be categorised for seveal days. As most of them are from joint accounts that need to be split etc, most of the time my Trends shows an incorrect total figure (until pending become settled transactions and I can categorise them, but then more pending transactions have happened in the mean time), which makes Trends not useful as a tool to check my spending on a daily basis.

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You may already be aware of this, but in any case it may be worth noting this is an issue with all aggregators (that I’ve tried), not just Monzo.

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Ouch

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Don’t like Thursdays?!

(I did wonder about the “not this week” votes, but I’m suspecting folk are thinking that, even if there is an announcement, it probably won’t get rolled out immediately)

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Also: feeling upset that you didn’t fall into my trap and vote on when we can expect an announcement :joy::joy:

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Confirmed, it’s coming tomorrow! :eyes:

possibly won’t, I don’t really have the answer

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So I voted for Thursday, but now I’m calling it for tomorrow.

(Mostly because I’m impatient and have now decided this is going to be the Big One, with Merchant view, budgeting, goals and expenses in Trends, new graphs, and a revised Payments tab :joy:)

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Yes, it is (I’ve tried a few too). Still an issue looking for a solution though - first one to solve it wins big :ok_hand:

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At least most of the accounts that you can connect actually show pending transactions via Open Banking, unlike Monzo themselves.

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I much prefer Monzo’s approach in this regard. It’s the reason Monzo transactions can be edited immediately within aggregators.

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Yes, there is that. Also Emma shows your upcoming payments anyway, so it’s not too bad.

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