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Advanced transfer#23


I have a problem with the transfer.
I have two accounts from the same bank. One in my name, the other in the name of my daughter (who is a minor). I transfer an allowance every week (always amounts under 7.5) with an automatic service that the bank provides.
Well these transfers despite occurring on the same day are not read as transfers!
If I try to change the expense (or income) as a transfer, it only makes me enter the manual account, or the off-wallet account.
It would be useful to be able to select all accounts for transfer, and by selecting one, the system should check if within a range of a given date (say one to five days) it matches a specific amount opposite, so that it can match the correct entry.

Example if I transfer by bank transfer 100 euros on December 30 from ACCOUNT X to ACCOUNT Y. The amount is credited on January 3 to Account Y.
The system recognizes 100 from Account X as Unknown Expense, while in Account Y it recognizes the sum as Unknown Income.
Account Y has on January 2 another income of 100 euros. Classified as a poker winnings!
Now, I want the transaction that was credited on January 3 to be recognized as a TRANSFER.
I modify the 100 euro expense in account X and set it as a transfer.
From the list of accounts it shows me all accounts present ( both synchronized and manual). I set account Y as the recipient of the transfer (with a maximum of 5 days difference from the expense), the system should find all positive amounts that are equal to 100 euros, and report them to me in a list. So it should report to me:
100 euro - Poker winnings - January 2
100 euro - Unknown Entry - January 3.
Obviously I would dock the January 3 entry for the transfer.

A similar functionality is offered by Spendee and I must admit that for me it was very convenient to “hook” transfers not detected automatically.
I switched to the Lifetime version because compared to Spendee there are many more features … but also some flaws.
I hope this feature will be integrated

I attach as images the two transactions, and the screen that appears to me when I try to enter the transfer.

a year ago

I believe a similar feature has TOSHL as well.
Basically you select the source account of the transfer and the spent portion of the transfer to that account and automatically matched in an incoming transfer.
But actually it would be convenient to see in a list which expenses/income can be matched to the one we requested the transfer from.
I hope it is taken into consideration because very frequently I make transfers from one account to another for my savings, and every time I have to go and check and manually enter a transfer for each of the two transactions.

a year ago

Yes it is true the same functionality is also provided by Toshl, and it is even more accurate than Spendee!

I am experiencing a problem on all transfers made from one account to another (especially with synchronized ones).
In the example I am illustrating to you, I have transferred from my account to my daughter’s account (12 years old) 7.50 euros.
If I go to the WEBapp I see this transaction as INCOME into my daughter’s account (INTESA ALE category - “OTHER”) - Figure 1
I see the same transaction as a transfer in the ANDROID app, from the INTESA MIO account to the INTESA ALE account ( the correct solution is just that). Figure 2

However, if I try to edit from the web app the transaction as a TRANSFER, I have no way to select the source account except as OUT WALLET or Cash or Add New Account. So in the web app there is absolutely a problem in the transactions identified as transfers (Figure 3).

Moreover I believe that all transfers have big problems, because it seems quite obvious to me that if I enter a transfer (whether iwhether income or expens), there must be similar opposite transaction (expenses/incomes) of the same amount in another account, and then wallet should automatically detect the other transfer and not make me enter it manually (I might forget). I
Wallet therefore should be able to automatically detect the other transaction, and automatically categorize it (without my intervention) as a TRANSFER! The only thing possibly a pop-up alerting the user which operation is going to be linked!

a year ago
a year ago

I agree with that. Toshl has this functionality and offers linking of the other transaction and then it is displayed as one transfer transaction for both transactions. While Wallet is great app with great features this I miss a lot. Right now I have to go and manually edit each transfer and put there the other side and do it twice for every transaction wich is quite annoying. I would not go automatic transaction creating but it would be great that if I convert to transaction that there is smoother way with less clicks to link it with the other transaction. I think for this feature Toshl is really great inspiration UX-wise.

9 months ago
Changed the status to
More Info
3 months ago

Hello, thank you for your feedback. We encourage more users to come forward and express their interest and struggles with the current system so we can better understand your needs.
Once the post gains more traction and we see a higher demand for this feature, we can pass it over to the developers for their consideration.

3 months ago

It is concerning that this idea has been around for over a year with many upvotes but no movement yet.

I’ve been using wallet for a month, and regularly do small incremental transfers throughout the course of a month. Why? Well here’s my scenario:

  • I have two accounts with bank x, a checking account and a savings account
  • The savings account offers a much better rate of interest, and no penalties to transfer out of it
  • My direct debits and standing orders are configured against the checking account (usually because the bank requires this in order to get preferential interest)
  • Therefore, even though I need money in my checking account for DDs as well as general spending, I’m financially better off to keep as much money as possible in my savings account and transfer it just when I need it
  • When I do make a transfer a record is shown in the source (savings) account as “TRANSFER FROM <my name>“ and in my target (checking) account as “TRANSFER TO <my name>“
  • Every transfer between these accounts has the same reference
  • It is a pain to have to go in and change these records which are shown by default in wallet as an “Expense”, which sometimes can be multiple times a day

Suggested Solutions

  1. Allow us to create rules for TRANSFERS
    – Like I said in my example the ref is always the same. So let me create a rule!

  2. Detect / suggested matching transfers
    – Much like how we confirm single records, allow us to confirm a match that looks like a transfer that you have detected. I.e. same exact amount exiting one account, and entering another on roughly the same dates / also see if there’s any history around similar transfers around this time of the month.

If you need more info I’m happy to share. I work in the software industry myself so can provide specs / scenarios or join calls if required, but this feature desperately needs to implemented as without it it’s painful.

2 months ago

Is there any update for this features? There is planned payments for income and expense, so it should add planned transfer/transaction. I have exact certain amount to be transfered to certain account.
My example, I created an loan account on the Wallet, with negative value in the beginning to track my loan, there is auto-debit from my saving account monthly, so I would like recreate this repayment transaction in Wallet. At the moment, I adding the transaction manually.

Thank you.

a month ago

I have a question relating to this. Suppose you have accunt C as your Current Accunts and Account S is your saving deposit account. You transfer monthly say $500 from C to S. If I show this as Transfer, then it is NOT cattegorised as a Investment but just as Transfer. The saving/investment category wont show up in your Spends isnt it? When Bank synch happens and you edit it as Transfer , then next synch will again fetch this transaction as a duplicate and the balances in C will be wrong. I face this situation. Do you?

14 hours ago