Have you ever wondered how much money you spend on coffee in a month, or how much you spent on Uber last year? Or what your average Car2Go ride costs?
A smart, simple (and accurate) categorization system has been one of our most requested features to date, which is why we’re super excited to introduce Categories and Merchant Details with Koho version 1.2.0!!!
Categories and Merchant Details in your Feed
Most categorization apps work by scraping your bank account, meaning it’s often delayed and not always accurate. When you make a purchase with your Koho card, our categorization algorithm instantly grabs the merchant’s info to automatically suggest a category that makes sense for the purchase, right in your Feed! Tap the purchase to see more info, including your purchase stats and details about the merchant. If it doesn’t feel right, you can always customize it to make it your own. More on this below.
Custom Categories and Rules
If you don’t like the suggested category, simply tap the category icon. From here, you can change it to another category or create your very own custom category (emojis work too ☕️).
If you’d like, Koho will remember to assign future purchases from this merchant to your new custom category. Tap “Change All” to do this.
Categories within Insights
We’ve also updated Insights so you can break down your spending by category. Tap a category to track spending from month to month, and search all the purchases in this category.
Now you can see how much you’re spending on Groceries vs. Transportation vs. Entertainment, or how much of your income was spent on Eating and Drinking last month. We hope Categories provides valuable insights about your spending habits, so you can adjust (or not) based on what’s right for you.
Remember to update to 1.2.0 through TestFlight or Google Play! Please don’t hesitate to let us know what you think, report a problem category, bug, or just say hi 👋.