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Automatically detecting transfers from Online Banking accounts
Automatically detecting transfers from Online Banking accounts

Learn more about MoneyWiz's feature to automatically recognise transfers coming from Online Banking

Iliya Yordanov avatar
Written by Iliya Yordanov
Updated over a week ago

When transfers are being downloaded from Online Banking, they are downloaded in form of an expense/income pair -- that's because we usually don't receive any information that this transaction is a transfer and even if there is a word "transfer" in the description, we still can't be sure that it's really a transfer between accounts (consider worldwide banking support we provide) and we don't know what's the other account name. This makes automatic transfer recognition problematic.

Fortunately, we have found a solution and MoneyWiz can now try to detect transfer transactions. To enable this feature, go to MoneyWiz Settings > Online Banking (it will be enabled for all Online Banking accounts you have connected).

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