Medici is the title of the most powerful subscription plan in Toshl. It includes all the features that the Toshl Pro and free plan include and adds the capability to automatically connect to banks, credit cards and various types of financial accounts.

 

Why is it called Medici?

The name of the Toshl Medici plan comes from the House of Medici. The Medici were an enormously influential family during the Renaissance. They were centred around Florence (Firenze), Tuscany in today’s Italy, but their influence was felt far wider across Europe.

The accomplishments of the family and its notable members are far too numerous for them all to be listed here. Aside from ruling several city states and duchies, being patrons to prominent artists such as Leonardo da Vinci, Michelangelo Buonarroti and Sandro Botticelli, spawning no less than 4 popes, they were also the people who helped shaped banking as we know it today.

Through the Medici Bank, they provided liquidity for commerce, grand projects and acted as bankers for the royals of Europe. The Medici Bank also introduced financial technology novel at the time, like double-entry bookkeeping, bills of exchange and a decentralised system of partnerships. It was a banking institution, powerful unlike any other of its time.

Taking all this into account, they seemed more than an appropriate inspiration for our banking related developments at Toshl.The Medici family have thus joined the Toshl monster family in their somewhat abstract from. From left to right, meet: Giuliano de’ Medici, Leopoldo de’ Medici, Lorenzo I. de’ Medici and Caterina de’ Medici .

 

Festina lente.

Toshl can now automatically import data from your credit card, bank or other financial service. Just spend with your card, PayPal or make a bank transfer – the transactions will automatically be imported, categorised and offer some much needed clarity to your finances.

All you need to do is connect your bank, card or other financial service in the Toshl app and off you go. Toshl will import your available past transactions as well as automatically add entries as you spend from then on.

Of course, you can still enter data as you have so far. Enter your cash purchases quickly in our Android, iOS and web apps, or import in batch from a file in the web app.

 

Pricing

The new automatic connections with banks are available with Toshl Medici.

Medici is a new, most powerful subscription tier in Toshl. It includes all the features that the free and Pro plans include, plus adds the ability to automatically import transactions from your financial services. It costs $4,99 per month when charged monthly or $3,33 per month when charged yearly.

Detailed pricing & features

 

Availability

The bank connections are currently available with US financial institutions. Almost any US bank or credit card works as more than 9000 different connections are available.

Check out the full list of supported financial institutions (log in required)

 

We don’t plan to stop there and will expand the offer to many more countries and financial institutions in the future. Aside from covering the world’s established banks, we’ll also expand to more new and innovative financial services. Today, we’re starting with support for automatic connections with the Bitstamp currency exchange, which you can already connect.

 

You might be wondering, why is it called “Medici”? The answer is but a click away.

 

Toshl 3.0 isn’t only about bank connections. We’ve added lots of other useful improvements as well:

 

Easier balance reconciliation for manual financial accounts

No more manual calculations required. Now, you just edit a financial account, enter the account balance you’d like to set, save and Toshl automatically adds a “reconciliation entry” in the amount needed to get to the desired balance. This way, you can easily adjust your manual account balances and see how much reconciliation was required – in other words – how much you strayed from your noted expenditure.

 

Set a custom balance limit on a financial account

Works great both with connected and manual financial accounts. You’ll get a notification when you approach the limit you set, to the last 10 % of your usual balance and when you surpass it. It can act as a canary in a coal mine, warning you when you’re on your way to some cashflow difficulties.

 

Budgets are now grouped by the financial accounts they track on Android

For example, if you have budgets that exclude some accounts, like a savings account for example, budgets with the same account filtering will now be grouped together. They’ll also count for left to spend calculations on Monthly Overview and River flow graphs, whereas only All accounts budgets counted before. The improvement will soon be making its way to iOS and web apps as well.

 

• Financial accounts can now be deleted from the mobile app
• New main menu style on iOS

 

• Medici family Toshl monsters joined the family
• Lots of minor improvements and bug fixes

 

Have a question or feedback? Drop us a line.

Yaaay, the Medici are here to stay!

We’ve updated the currencies in Toshl and added six new ones. This brings the total number of currencies in Toshl to 196! All have constantly refreshed exchange rates, so you’ll always get the right one.

 

Three are new crypto or alternative currencies which haven’t been supported before:

• Dash (DASH)
• DogeCoin (DOGE)
• LindenDollar

Three are different versions and rates of the Venezuelan Bolivar, due to the devaluations and capital controls in the country.

There are now 4 versions of the Venezuelan Bolivar available

• Venezuelan Bolivar Fuerte (Bs. F.)
• Venezuelan Bolivar (DICOM)
• Venezuelan Bolivar (DIPRO)
• Venezuelan Bolivar – Black Market

First 3 are official rates using different mechanisms, while the last is the rate on the black market which might be the real rate for a lot of Venezuelans due to the capital controls and frequent discrepancies of official rates.

 

We hope this will make managing your finances easier, whichever currency you may use.

This Shiba Inu is already happily hanging out with Toshl monsters when not counting his DogeCoins.

You’ve made your financial plans and set up your budgets to meet them. You know where you’d need to save more. Then comes the harder part of budgeting. Sticking to your budget plans.

We’ve recently introduced a new feature to help you do that. Toshl will now send you notifications reminding you of your budget goals.

The notifications are based on comparing your current spending, budgeting goals and the time that has already passed in the budget period.

 

Nudges during the budget period

Let’s say you have a monthly budget.

20 days have already passed (66 % of the time in the month), but you have only spent 30 % of your budgeted money. Naturally, we shall sing praises of your saving skills. Deservedly so.

On the other hand, if you have already spent a larger proportion of the money in your budget than the proportion of time that has passed, we’ll warn you that the budget is going the wrong way.

The warnings won’t be so harsh you couldn’t look yourself in the mirror, but hopefully a gentle notification nudge will suffice to ween you off your sinful budget-breaking ways.

Both types of notification get triggered once you’re 10 % or 30 % above or below your budget goals for this point in time.

 

Recap at the end of a budget period

All is well that ends well, they say, but what do they know anyway? Who are they to know things? Anyhow, when the budget period ends, Toshl will remind you of how you did.

Hopefully you did very well and budgeters everywhere will worship at your feet in awe of your majestic budgeting skills. If not, Toshl will tell you just how naughty you’ve really been.

 

Account balance notifications

In addition to the budgets, Toshl also keeps an eye on your overall account balance. If the balance of all accounts dips below 0, comes above it again or you hit 0 exactly, Toshl will let you know.

 

Notifications on mobile devices and email notifications

The notifications can come in two different forms. They can be delivered as mobile app notifications or as emails.

By default, only the mobile notifications are turned ON. They will show up in the notifications on Android and iOS as well as inside the Toshl app on the Monthly overview screen.

Tap on the notification and it will open the budget in question, so you can check what happened.

You can also set the notifications to be sent to you by email as well. This is especially useful if you only use the Toshl web app or would like to be extra sure you won’t miss any important warning.

 

Turn the notifications ON or OFF

Both the app and email notifications can be turned ON or OFF in the app Settings / Notifications. You can set this in either the mobile app* or the web app. The settings will be in sync across your devices.

 

May your budgets stand the test of time and notifications bring you nothing but good news!

 

 

 

*Full notification settings are currently available in the web app and the Android app. Coming soon to iOS as well.