It’s because the Monzo Pots integration is not a standard Open Banking format interface that other banks use. A similar situation exists on Starling Spaces.
We happen to work with a technical provider who focusses on Open Banking standard APIs. Others have done bespoke integrations with Monzo’s APIs to make this work.
We continue to push our partner for this and look for other solutions as needed. Many of the team here at Snoop use Monzo or Starling so understand how useful this would be.
Paul
Guys, you’ve got 2 options
I find it incredible that this request is 3 years old and we’re still being told “this isn’t technically possible”.
The very fact your competitors are doing this - shows that it is. Please give your partner the boot and hire someone who can build a custom integration, as the Monzo API’s are there and ready to be used!
Hi @Cullen411
We certainly don’t say it isn’t technically possible. As I’ve said a few times above - we use standard Open Banking interfaces today and this particular product is not covered by these APIs.
Bespoke APIs are available from Monzo, but we don’t have access to these today.
Paul
OK, so I assume the product team have carried out a discovery session to see what it would take to integrate these API’s over the past 3 years?
For an app like Snoop, budgeting is the core value prop. Monzo Pots significantly help people with that, to “silo” funds for bills, groceries, transport etc.
Competitors like Moneyhub and Emma have built these integrations and are grabbing those some 9m users that could otherwise be using Snoop to manage their budgets.
Please reconsider the priority of this. Monzo users are exactly the demograph you should be targeting.
Hi @Cullen411 I look after all systems here at Snoop so I can assure you it’s been properly considered, we understand exactly what it would take and our desire to do this is high.
However we don’t have any timetable on when this will be possible right now. When we do, I’ll be sure to share it.
Paul
Hi all - want to also add my +1. Love the app but frustrating I cannot track Monzo pots for savings.
New Snoop user.
I’m not a Monzo customer yet. But I’m looking for a way to create ‘Pots’ in Snoop. I mainly bank with First Direct.
What I’m trying to achieve is to be able to tag amounts in my savings to keep track rather than having lots of actual savings accounts with small amounts in.
So let’s say out of this savings £400 is assigned to A, £1200 to B and so on.
Is there some functionality built in to Snoop?
Also there is one First Direct savings account that won’t import to Snoop, is that normal?
I realise I’m replying to a thread about Monzo Pots so I’ll also start a new thread in case this gets lost.
Hi @MediaBoy thanks for posting!
So what you could do is create ‘Custom Categories’ and assign these to the different savings amounts if these are transactions, you could then view each category and then see the amounts being separated out. However this would have no impact to your connected accounts and how your savings appear on their app/website.
For your First direct savings account if this doesnt appear when connecting your other account this will mean we cannot connect to this particular one. To pick-up on ‘Savings Accounts’ more generally… Snoop works within a set of rules and systems that are commonly referred to as ‘Open Banking’.
Under the regulations that account providers must follow, they must allow their customers to access certain accounts through apps like Snoop.
However, these regulations only cover something called a ‘Payment Account’ and as many savings and investments accounts (such as nutmeg and NS&I) aren’t classed as this type of product, banks and other providers are not obligated to provide access in a lot of cases.
Many banks still do offer us access even though they are not obligated to (which we are obviously very pleased about). Not all do though.
I hope this helps and if you need anything else please do drop us a message at hello@snoop.app
Keren
Hi @Keren
I’ll try as you suggest.
So I’d need to upgrade to the Premium Plan, create some custom categories. Then how would I say assign £100 from a savings account to a ‘holiday fund’ category and £100 from the same account to a ‘new car fund’?
Hi @MediaBoy, so you do get 3 Custom Categories for free with regular Snoop if that will be enough for you? To give more advice on specific transactions and if this would work, if you want to pop over an email to hello@snoop.app and we can take a look for you. Don’t want to say this would work for sure without seeing the account.
Keren