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A smart bank account: I want to set up rules like "take 19 percent of every incoming transaction and save it to virtual account 'taxes'. Use this, account to

by jagermo 10y ago

A smart bank account: I want to set up rules like "take 19 percent of every incoming transaction and save it to virtual account 'taxes'. Use this, account to pay invoices by $financialAgency" Banking hasn't produced any innovation since online banking, it seems

pigpigs 10y ago
I feel like digital wallets would definitely solve this but there is never enough demand from consumers or merchants to give them sufficient traction. Maybe it's just a really slow shift since the benefits are marginal for most people. Google Wallet recently added integration to bank accounts though so at least there are some progress in that aspect.
ciaranm 10y ago
I guess you're not based in the UK, but monzo(previously Mondo) (https://monzo.com/ https://monzo.com/ ) sounds like the start of what you're looking for. Their API (https://monzo.com/docs/ https://monzo.com/docs/) opens them up to all sorts of uses for your bank account.
- jagermo 10y ago
  Germany based, sadly. But I'll keep an eye on them, thanks
- djhworld 10y ago
  I don't believe they have a full banking license yet do they?
  - nickjackson 10y ago
    No, but we are led to believe this wont be long. They recently got partial approval with full approval expected next year. Not bad for a startup that has only been going ~20 months in quite a slow industry. Money is currently stored with a third party that do have a license, so there are some guarantees that money wont be lost.
austinjp 10y ago
Jeez absolutely. The lack of innovation in customer services in banking is awful. A bank account wherein I can ring-fence amounts and set a preferential order in which these ringed resources are drained. All with alerts on top. "Warning: you're spending more than recommended on fancy breakfast items, jeopardising your ability to pay your AWS monthly bill (which by the way has increased over the past 3 months)".
austinjp 10y ago
I'm watching Monzo (previously Mondo) with interest.
mynewtb 10y ago
You should be able to do this with a HBCI client like Hibiscus/Jameica or similar.
- jagermo 10y ago
  I'll look into that, however this means additional software on my systems. I think it really should be integrated into the normal account and work without me interfering

by jagermo 10y ago

pigpigs 10y ago

I feel like digital wallets would definitely solve this but there is never enough demand from consumers or merchants to give them sufficient traction. Maybe it's just a really slow shift since the benefits are marginal for most people. Google Wallet recently added integration to bank accounts though so at least there are some progress in that aspect.

ciaranm 10y ago

I guess you're not based in the UK, but monzo(previously Mondo) (https://monzo.com/ https://monzo.com/ ) sounds like the start of what you're looking for. Their API (https://monzo.com/docs/ https://monzo.com/docs/) opens them up to all sorts of uses for your bank account.

jagermo 10y ago
Germany based, sadly. But I'll keep an eye on them, thanks
djhworld 10y ago
I don't believe they have a full banking license yet do they?
- nickjackson 10y ago
  No, but we are led to believe this wont be long. They recently got partial approval with full approval expected next year. Not bad for a startup that has only been going ~20 months in quite a slow industry. Money is currently stored with a third party that do have a license, so there are some guarantees that money wont be lost.

austinjp 10y ago

Jeez absolutely. The lack of innovation in customer services in banking is awful. A bank account wherein I can ring-fence amounts and set a preferential order in which these ringed resources are drained. All with alerts on top. "Warning: you're spending more than recommended on fancy breakfast items, jeopardising your ability to pay your AWS monthly bill (which by the way has increased over the past 3 months)".

austinjp 10y ago

I'm watching Monzo (previously Mondo) with interest.

mynewtb 10y ago

You should be able to do this with a HBCI client like Hibiscus/Jameica or similar.

jagermo 10y ago
I'll look into that, however this means additional software on my systems. I think it really should be integrated into the normal account and work without me interfering