Hi, I was wondering if there is any plan to add Wise to the list of supported providers.
I have been using MoneyDashboard so far, which supports Wise, but the app is being closed down and I am looking into alternatives.
Thank you.
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Hi @Albmel - we are looking at Wise at the moment but it’s not something we support right now.
If we can support them in future we will be sure to post about it here.
Paul
Hi Paul, thank you for the update. With Wise’s accounts giving the ability to earn interest or invest in stocks, it would be an ideal addition to Snoop in terms of tracking the balances and aggregating them with the other banks’ accounts!
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Hi everyone - we have been looking at Wise recently. One of the reasons we’ve not prioritised connecting them before is because right now, Snoop basically doesn’t currently support multi currency across our features.
Many of our features consolidate data across all your accounts - e.g. our spend analysis features, our net worth features or our account alerts like the daily balance message. All of these features are currently designed for one consistent currency comparison, in £. If we were to fully support non GBP currencies, then we’d need a way to compare numbers of non-relative sizes in these features. So if we have a Japanese Yen account of 1000, that’s roughly the same as a £6 GBP account based on current FX rates. We’d either need to convert these all back to one currency (so the relative value of each number is the same) or split out each currency in each feature.
We’ve decided to not tackle this type of complication at this time. So when you interact with various multi-account features in our app you will see an assumption all the figures are the same relative values and they are all in our supported currency of £. We might get to this in future, but’s not one of our priorities.
3 of the 60+ connections we have today do allow non-GBP accounts. We took the decision early on that we could either block these from showing in Snoop at all or we could let them be connected, but accept that right now some of our features that consolidate data across accounts will not work fully. We took the 2nd option on the assumption that was more useful to most people to get visibility of their data.
Unlike those existing 3, Wise’s primary function is to support multi-currency payments. We suspect it will be a lot more common for people to hold non GBP values with this provider. With the above in mind, do you still think it’s very useful us enabling this provider? It would mean the money you hold in a GBP currency at Wise will work like any other account, but the other currencies may cause confusion?
I’d be very interested in your views?
Paul
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Hi Paul, thank you for the detailed explanation, I do see your point.
Personally, I believe that it makes sense to consolidate all in GBP and it would still be pretty useful, as it gives an idea of one’s net worth in one consolidated currency.
Thanks a lot for all your work!
Yes, displaying everything in GBP or just showing GBP account balance would be incredibly useful. I know multiple people who use wise not for multi currency but because the interest rate is really good
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Do you have any updates, or a timeline for Wise support?
I used Wise as my main spending account since moving the the UK and would love to add those transactions to snoop. Currently my balances have weird spikes whenever I transfer money to and from my Wise account.
I found the “Annoyingly, some banks still don’t support Open Banking” statement in the app a bit suspicious since Emma (claims) to support TransferWise.
Hi @Arthur_R - some banks don’t support Open Banking, but that’s not the case here.
As I mention in my message above, Wise do indeed have an API but we were reluctant to add them for the multi-currency issues that I mention.
That said we do have this working in a test version of Snoop at the moment and we are currently considering how best to enable without causing these issues. If you drop a line to hello@snoop.app and mention this post, I can investigate getting you added to a future test.
Paul
I would also like adding to a future test for Wise.
Hi @tomblake please drop us a line at hello@snoop.app and mention this post and we will sort this out for you.
Paul
I would also like to be able to add Wise. I have a Revolut account with 4 currencies, and I would prefer to name them (in Snoop) to remind me which is which currency but have them displayed either as if they were sterling or converted to sterling rather than not have them at all.
And also my Monzo currencies - I only got the Sterling one when I connected it.
Hi @ricochet
If you reach out to us on hello@snoop.app then we can assist you further with Wise as Paul mentioned in the above thread.
In regards to the currencies, only 3 of the bank connections we have support non GBP accounts. We don’t support non-GBP accounts yet in Snoop for the simple reason that a lot of our features work across accounts and we’d need a way of converting all numbers to be relative values (e.g. comparing 16,000 Japanese Yen to £100). Rather than blocking these accounts from being connected, we decided to let them be connected and show the correct currency on the homescreen. Especially as it’s so simple to remove accounts again. This may be implemented in the future, but it is not planned in currently.
All the best,
Sarah
Thank you - I didn’t want to presume the offer to do this was an open-ended one, but glad you can help me.