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Feedback request: Improvements for Online Banking automatic categorisation

Hello everyone!


We've been listening to your comments regarding automatic categorisation of transactions downloaded from Online Banking and we see that while many users are satisfied with the feature as it is, there is some room for improvement.


Case summary:

MoneyWiz automatically assigns categories for transactions downloaded from Online Banking based on the information we receive from the connection provider. There are pretty smart algorithms behind the scenes doing this and while at first the categories assignment might seem pretty random, the bank provider MoneyWiz connects to will eventually learn from your choices based on Payees.


However, there will be times when MoneyWiz will get it wrong so this case is for people for whom the feature does not work as expected at all or that those times when MoneyWiz occasionally gets it wrong is inconvenient enough that they would like the feature completely gone.


Our request:

We'd be grateful if you'd share your feedback with us. In order to make it easier for us to process your comments, please read the following guidelines for this topic:


1. This topic is only about automatic categorisation for transactions downloaded from Online Banking. If you are experiencing problems with your Online Banking connection but it's not related to category assignment, please create new topic or contact us directly via e-mail so we can help.


2. Please include in your post an answer to this question: Are you connecting to your bank via Salt Edge or Yodlee platform? To check this, please start editing the accounts in question (Settings -> Accounts & Budgets on iOS, double-click on Account in the sidebar on Mac) and check whether it says Yodlee or Salt Edge there. Those platforms are separate so one might be working better than the other for some banks. We need to know exactly which platform you're referring to.


3. Please include in your post an answer to this question: On a scale from 1 to 10 (10 being the best score), can you rate how satisfied are you with how MoneyWiz automatically assigns categories? What are the reasons for your score? Can you please comment on the degree of improvement you've noticed in this regard over time?


4. Please include in your post an answer to this question: On a scale from 1 to 10 (10 being the best score), can you rate how satisfied are you with how MoneyWiz automatically assigns payees? What are the reasons for your score? Can you please comment on the degree of improvement you've noticed in this regard over time?


5. Please include in your post an answer to this question: We are thinking to include an option how you'd like to handle transactions imported from Online Banking. Our plan is to let you choose from one of those:


A) Import transactions with category from the provider (the current setting).

B) Import transactions with categories based on payees (like with import).

C) Import transactions with no categories whatsoever.


Which of those options would you choose, if any?


6. Please include in your post an answer to this question: if you like the idea presented above, would you like this setting to be global (for all your accounts) or granular (separate setting for each account)?

Please think about this carefully as while greater degree of control might always be better, implementing a global setting might be easier (and faster) for us to do than a granular one.


Thank you so much for taking the time to read this and considering to share your feedback with us. We really appreciate your input and constantly review and discuss your comments internally.


1 person likes this idea

Hi Stanislav,


Once again, thank you for your inputs regarding MCC. We are discussing this with Salt Edge to improve MoneyWiz's categorisation algorithms.

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