Hi everyone - we’ve been making lots of important upgrades to our regular payment analyser (our ‘bill tracker’) in recent weeks. Here is a summary of how our feature works.
Reminder of key features
Unlike banks who may show you simply a list of standing orders or DDs on an account, our feature is designed to look for ALL patterns of regular spending to help you track your bills. We do this by looking:
- Across all your accounts. This bit is new as we no longer limit our patterns to bills paid from the same bank account
- Across all types of payments - Direct Debits, bank transfers, card payments etc
The patterns we look for:
- Payments to the same destination, which is often a merchant but can also be to an individual
- Payment that we spot as a regular pattern. The patterns we look for are:
- Weekly (new)
When will a new regular item appear in the list in the Payment Hub?
For direct debits, we can make them appear in your list of regular payments after one payment. For certain payment types we need to wait for a few payments to establish a pattern and to check this is actually a ‘regular’ bill and not just normal adhoc spending. Normally after 3 regular payments, this pattern should be spotted.
Our support team also have the ability to apply more advanced settings in certain situations… for example if you pay regularly to a company but not on a fixed pattern, we can make an entry appear in your list to track that spending. We can also exclude any merchant/destination from appearing in your list, or include one that we normally preventing showing by default.
If ever you need anything changed, just drop us a line from the app, or email us at email@example.com.
We have lots more improvements planned in future.
One of these will be improving our predicted spending around weekly payments. At the moment we only predict the ‘next’ payment, even if more than one is due in a month for example.
I hope that’s a useful summary, but please do let us know if anything about your own payments doesn’t look right for you?