We’re constantly making improvements to the Toshl services. Lots of them aren’t full blown features on their own, but come very useful when they show up.

For example, we recently added matching of expense locations that come in automatically through your bank connections to Foursquare venues.

When your credit card spending data comes into Toshl, an exact location can be determined based on the expense description. It won’t work for all expenses, but it should in a lot of cases.

Until recently, only the coordinates were added so you could see the map on the expense details. Now these coordinates automatically match to a Foursquare venue, so you have more detailed data about the place. These expenses can now also show up on the expense locations map in Toshl apps.

Better still, these expenses are now also summed up for an individual venue, so you’ll know exactly how much you spent at your favorite coffee shop or grocery store.

Here’s how it can look like when the expense location is matched. If you’re ever around, it’s the pizza to try in San Francisco.

 

That’s how the matching happens when using the Toshl Medici plan with automatic bank connections. Naturally, you can also add locations to the expenses you enter manually or to those which haven’t been determined automatically.

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.