You can add a bank account to your MoneyPenny in “Banking” -> “Create account” button -> check ”I want to create a Bank Account”.
On the next step, you can connect this account with Figo (to automatically integrate its transactions) or make it manually:
Note: Figo is available only for MoneyPenny accounts registered in Germany, Austria or Switzerland (if you have chosen one of these countries during account registration). All other accounts can only create a ‘manual bank account’.
We integrated our banking features with our German premium partner Figo, a ‘Banking as a Service’ platform provider.
Figo is Europe’s first banking service provider.
Figo provides innovative financial services from thousands of sources and takes care about the content-based and technical requirements brought by Payment Service Directive 2 (PSD2).
Figo offers also a free of charge Freemium service (“Figo Account”). You can register at https://home.figo.me/signup. More information about the Figo terms and conditions can be reviewed at: https://www.figo.io/en/t-c-financial-id/
If you choose Figo, then you should first enter your Figo credentials:
On the next step, choose “Figo account”:
On the last step, add an “Account name”, “Start Balance” and “Bank reconciliation start date” (transactions older than this day will not be imported).
Click “Done” and you will see this new account in the Accounts list:
Wait! At this stage, the bank statements aren’t imported yet. To proceed with the import, open this account (click on “Account Name” in the list) -> and click the “Refresh” button.
All statements will appear in the “Unexplained transactions”.
Manual Bank Account
If you choose to create a “Manual” bank account,
on the next step, you should enter your bank information:
Then you can upload a CSV file with bank statements to import the data to this account. You can click “See a sample” to know how these files should look like, or you can skip this step and upload CSV after account creation.
If you upload the CSV, then compare the MoneyPenny statement fields with the fields (columns) in the uploaded file:
Next, review the statements which will be imported and click “Done”.
All these statements will now appear in the “Unexplained transactions” tab.
If you want to upload more statements, click “Refresh” and choose the CSV files.
How to “explain” “unexplained transactions”
By default, all newly uploaded bank statements appear in the “Unexplained transactions” tab. For “upgrading” them to “explained” transactions, you can allocate any of the following options:
– “payment for an expense”, “Other out”, “Private” transaction or “Transfer” from one account to another (if it’s about outcoming money) OR
– “Payment for an invoice”, “Other in”, “Private”, “Transfer” from one account to another (if it’s about incoming money).