Let’s say you withdraw cash from your bank account at your local ATM*.
If you have that bank account connected to Toshl, the expense for that withdrawal will be imported automatically.
However, an ATM withdrawal isn’t really an expense for you, is it? It should really be a transfer from your bank account to the Cash account. You still own that money, just in a different form.
Before, you had to click on that ATM withdrawal expense, click Make transfer and link it to the Cash account where it ended up.
Now, that whole process is done automatically. Toshl will detect that the expense is an ATM withdrawal and automatically save it as a transfer to Cash.
This way, it will already be noted correctly, no adjustments needed.
We worked with many scenarios and data to predict such cases. As banks report this in many different ways and your wallet for cash doesn’t say much at all, it could be that we missed one or two. If you still find an ATM withdrawal on a connected account, which wasn’t made into a transfer automatically, please let us know. Send the details of the transaction to support@toshl.com and we’ll make adjustments to make sure they get detected in the future.
*By ATM we of course mean an Automated Teller Machine, bankomat, geldautomatc, cajero automático or however you call it locally. If your mind automatically went elsewhere, get it out of the gutter, then come back. 😉
