Toshl Finance Blog

Bank Connection News August 2019

To make sure all your new transactions and account balances are up to date in Toshl, thousands of bank connections need to be maintained and working well with the help of our bank connection partners. In addition, we keep expanding the connections on offer, so all your bank, retirement accounts and credit cards can be automatically updated with ease. To keep you abreast of what’s going on behind the scenes, we plan on make such bank connection news a regular fixture on our blog.

There’s about a 100 new ones in addition to more than 13 000 already on offer. Among them; Starling Bank in the UK, BBVA Compass and Zero in the US. Our Brazilian customers will also be happy to learn that Banco Inter is back after a hiatus. The full list of added connections is available below.

Upcoming (in testing)
The often requested TransferWise and Monzo are in testing and will most likely be available in the coming weeks if all goes to plan. Additionally a lot of new connections in Slovenia, France, Spain and across the European Union are being worked on in preparation for the final entry into force of the new PSD2 directive. This legislation mandates that all EU banks offer official automatic connections, which will mean more bank connection on offer in the future as well as quicker and more reliable existing connections. In the short term it also means a lot of developing and paperwork for our bank connection partners and us.

Ongoing issues
While we try to keep things going as smoothly as possible we do sometimes encounter problems on some connections which we cannot immediately remedy. More often than not, this is due to banks blocking our bank connection partners and 3rd party apps like ours from connecting and ignoring efforts to resolve the issues with dialogue. This kind of often anticompetitive behaviour is one of the issues that the aforementioned PSD2 legislation is tackling in the EU. We’d be very happy to see the rest of the world follow suit in demanding official APIs from financial institutions.

While we cannot get into more details for each connection, at the time of writing we’re experiencing ongoing issues with Capital One (US), ABN AMRO (NL) and AMEX (US).

Bankers and Toshl can actually get together splendidly. It’s sweet really. Sweet like a lollipop.

List of recently added connections

Banco Intermedium

Canadian Western Bank – Online Banking
First Calgary Financial – Personal Banking
First Credit Union – Online Banking
Frontline Credit Union – Personal Banking
Ganaraska Financial Credit Union – Personal Banking
Heritage Credit Union – Personal Banking
Island Savings Credit Union – Personal Banking
Kingston Community Credit Union – Online Banking
Kootenay Savings Credit Union – Online Banking
Northern Savings Credit Union – Online Banking
Salmon Arm Savings and Credit Union – Personal Banking
Union Bay Credit Union – Personal Banking
VantageOne Credit Union – Online Banking

Norisbank Berlin

United Kingdom
NatWest business
NatWest offshore (international)
Ulster Bank
Virgin Money Bank Credit Cards
Virgin Money Bank Investments
Virgin Money Bank Savings

ASN (personal)

United States
1st State Bank (NE) – Personal
A.R. Schmeidler and Company
ABA Retirement Funds – ABA Retirement Funds
Actinver Securities
ADP – Retirement Services – Plan Participant
ADP TotalSource Retirement Savings Plan
Aetna 401k – Aetna 401k
Aintree Capital – Client Access
Akin Gump Strauss Hauer & Feld LLP
Alden State Bank (NY) – Personal
Alliance Bernstein 401k Plan
Amarillo National Bank – Personal
American National Bank (IA & NE) – Personal
American Trust – Online Banking
Ametek Retirement Plan
Arkansas Diamond Deferred Compensation Plan
Armstrong Bank (OK)
Army Aviation Center Federal Credit Union
Arvest Bank 401k & Profit Sharing Retirement Plan
Asheville Savings Bank – Personal Online Banking Services
Associated Securites Corporation
Astra Bank
Atlantic Federal Credit Union
Atos 401k Savings Plan
Bainco International Investors
Baker Botts L.L.P. 401k and Savings Plan
BancWest Investment Services
Bank 7
Bank of Bennington (NE) – Personal
Bank of Clarke County – Personal
Bank of Marin – Personal Banking
Bank of the James
Baxalta Savings Plan
Baxter Savings Plans
Bay Bank – Personal Online Banking
BBVA Compass
BBVA Compass – ClearSpend Visa Card
BBVA Compass Investment Solutions – Pershing
Beacon Community Credit Union
Beech Hill Securities
Beneficial Investment Services
Benjamin F. Edwards & Co.
Best Buy Retirement Savings Plan
BMO Harris Financial Advisors
BNP Private Wealth Management
BNY Mellon Capital Markets
Boiling Springs Savings Bank – Consumer Online Banking
Bolton Global Capital
Booz Allen ECAP
Boyd Gaming Corp 401k Plan and Trust
BPU Investment Management
Bruning State Bank
Bulltick Capital Markets
Cadaret Grant & Co.
Calpers Supplemental Income Plans
CalSTRS Pension2
Capital Analysts Incorporated – Pershing
Capital Guardian
Capital One Investing
CAPTRUST Financial Advisors – Client Login
Catholic Federal Credit Union
CB&S Bank in Alabama – Personal
CenterPoint Energy Savings Plan
Charter Bank (WI)
Choice Financial – Mobile Banking
CIRS 401k
Citi International Financial Services (CIFS) – Pershing
City of Los Angeles DC Plan
Clinton National Bank
CNS 401k Plan
Colorado PERA 401k/DC/457 Plans
Commonwealth Securities Limited
Community National Bank
Community National Bank & Trust (KS)
Constellation Wealth Advisors LLC – Client Access
Constellis 401k Plan
CRI Securities
Cuna Brokerage Services, Inc – Pershing
DAIMLER Retirement Savings Plan
DaVita Retirement Savings Plan
Deutsche Bank Alex Brown – DBConnect
Dollar General Retirement Plan
Dreyfus Lion
Empower Retirement – ACEC Retirement Trust
Empower Retirement – AEP 401k
Empower Retirement – American Funds
Empower Retirement – Career Education Corporation 401k Plan
Empower Retirement – CCOERA
Empower Retirement – CFG
Empower Retirement – Chesterfield County 457 Deferred Compensation Program
Empower Retirement – Chicago Public Schools
Empower Retirement – City of Arvada Retirement
Empower Retirement – City of Austin Deferred Compensation Plan
Empower Retirement – City of Los Angeles Premiere Deferred Compensation Plan
Empower Retirement – Comerica Retirement
Empower Retirement – Commonwealth of Pennsylvania Deferred Compensation Program
Empower Retirement – County Of Los Angeles Defined Contribution Plans
Empower Retirement – County of Orange Defined Contribution Program
Empower Retirement – County of Santa Barbara 457 Deferred Compensation Plan
Empower Retirement – CoxHealth Savings Incentive Plan
Empower Retirement – Directed Account Plan
Empower Retirement – EMJAY Retirement Services
Empower Retirement – Fairfax County Public Schools Retirement Savings Plans
Empower Retirement – Fifth Third Bank Retirement Plan
Empower Retirement – Great-West Smart Track Variable Annuities (Non-New York Residents)
Empower Retirement – Gwinnett County Retirement Plan
Empower Retirement – Hallmark
Empower Retirement – IRA
Empower Retirement – JBS 401k / Pilgrim’s Pride Retirement Savings Plan
Empower Retirement – JPMorgan Asset Management
Empower Retirement – KPERS 457
Empower Retirement – Lockheed Martin Savings
Empower Retirement – Louisiana Deferred Compensation Plan
Empower Retirement – Massachusetts Deferred Compensation SMART Plan
Empower Retirement – Mercy Myretirement Program
Empower Retirement – MetLife
Empower Retirement – Minnesota Deferred Compensation Plan
Empower Retirement – Minnesota State Retirement System (MNDCP)
Empower Retirement – Mississippi Deferred Compensation Plan
Empower Retirement – Montana Public Employee Retirement Administration
Empower Retirement – Nada
Empower Retirement – Nebraska Public Power District
Empower Retirement – NetXInvestor
Empower Retirement – New England Financial
Empower Retirement – NYCE IRA
Empower Retirement – Penn State Milton S. Hershey Medical Center
Empower Retirement – Persi
Empower Retirement – RELX Group
Empower Retirement – Sony USA
Empower Retirement – SoonerSave
Empower Retirement – South Carolina Deferred Compensation Program
Empower Retirement – State of Alaska Supplemental Annuity and Deferred Compensation Plans
Empower Retirement – State of Florida Deferred Compensation Plan
Empower Retirement – State of New Hampshire 457b Public Employees DCP
Empower Retirement – SunTrust
Empower Retirement – TD Ameritrade – 401k Plan
Empower Retirement – TexaSaver
Empower Retirement – The Childrens Hospital
Empower Retirement – Thrivent
Empower Retirement – TN Retire Ready
Empower Retirement – Vail ResortsRetirement – Vermont 457 Retirement
Empower Retirement – Walgreens
Empower Retirement – Washington State Deferred Compensation Program
Empower Retirement – WellSpan Health
Empower Retirement – Wisconsin Deferred Compensation Program
Equity Bank (KS) – Personal
ExxonMobil Savings Plan
F&M Bank (NE)
Farmers & Merchants Bank of Central California
Farmers and Merchants Bank of Long Beach (CA)
Farmers National Bank (Danville, KY)
Farmers State Bank
Fidelity Bank (Georgia) – Mobile Banking
Fidelity Bank (TX)
Financial Partners Credit Union
Financial Symmetry
Fintegra Financial Solutions
First Bank
First Bank of Linden (AL)
First Choice Credit Union
First Citizens Securities
First Command Bank
First Command Financial Planning
First Community Bank of Central Alabama
First Credit Union (AZ)
First Empire Securities
First Farmers & Merchants Bank (Cannon Falls, Le Suer – MN) – Personal
First International Bank & Trust – Personal
First National Bank of Gilmer – Personal
First Security Bank (MT)
First State Bank (NE) – Personal
Fluor Corporation Retirement Plans
Freudenberg-NOK General Partnership 401k Plan
FSC Securities Corporation – Pershing
Genoa Bank
Gibson, Dunn & Crutcher Retirement Plan
Goldman Sachs Private Wealth Management
Green Belt Bank & Trust
Gwinnett County Retirement Plans
Hearst Benefits Wealth – Retirement Savings
Hefren – Tillotson, Inc
Heidelberg Retirement Savings Plan
Henley and Company
Hewitt Financial Services
Home Bank – Business
Home National Bank (Racine, Syracuse, Middleport)
Honeywell Savings Program
Huber 401k Investment Program
Hunter Douglas Inc Savings 401k
Ideal Credit Union
Indiana Public Retirement System
International Assets Advisory (IAA) – Client Access
Invesco – Investor Account Access
Invest Financial Corporation
Investment Professionals Inc.
Jefferies – Private Client Services
John Hancock – Retirement Plan Services
Kohler Company 401k – Kohler Company 401k
Lake Elmo Bank
Legends Bank (TN)
Leidos Your Retirement Center
Lincoln Investment Planning
Lion Street Financial
Lockheed Martin Savings Plan
Lockheed Martin Savings Plan
Los Alamos National Bank – eBanking
Los Angeles Unified School District (457b)
Lubrizol Profit Sharing and Savings Plan
M Holdings Securities
M&T Bank – Web Trading
M1 Finance
Maine State Credit Union
MasterCard Retirement Plan
Mercer Wealth Solutions
Minnesota State Retirement System
Montana Federal Credit Union
NAPA Profit Sharing Plans
National Bank of Commerce (WI & MN)
Nationwide Securities
NBK Capital
Nestle SmartSavings Program
NetExchange Client
NetExchange Investor
NetExchange Investor
NetXInvestor Client
Occidental Petroleum Corporation Retirement Plan
Olin Employee Ownership Plan
One Vision FCU
OneWest Bank – Personal Banking
Oregon Savings Growth Plan
Oriental Financial Services
Park View Federal Credit Union
Parkside Federal Credit Union
Partners Bank of California
Pella Corporation 401k
Pennsylvania Higher Education Assistance Agency (PHEAA)
Peoples Bank (IN, IL) – Personal
PERS/OPSRP Individual Account Program
Pershing Brokerage Services – BNY Mellon
Personal Capital Pershing Login
Piggott State Bank
Portland General Electric Company 401k
PPG Industries Retirement Plan
PrimeSouth Bank (GA)
Publix 401k SMART Plan
Raymond James USA Limited
Refinitiv Retirement Plan
RM Stark and Company
Rockwood Bank – Personal
Royal Alliance – Pershing
Sacramento Credit Union
SagePoint Financial – Client
Sanibel Captiva Community Bank
Saturna Brokerage Services
Seattle Metropolitan Credit Union
SECU Brokerage Services
Securian – NetXInvestor
Sentinel Securities
Serco Inc. 401(k) Retirement Plan
Shareholders Service Group
SII Investments
SII Investments, Inc – Pershing
Sodexo 401k Savings Plan
Sorrento Pacific Financial
Spirit AeroSystems Retirement
St. Louis Community Credit Union
Starwood Savings and Retirement Plans
State of Michigan 401k/457 Plan
Sunlife Savings and Advantage Plan
TD Ameritrade
TD Wealth – Investments
The Fidelity Bank (NC) – Personal
The GMS Group, LLC – Client Login
The MYR Group 401k
The Plains State Bank (KS)
The Southern Credit Union
The Vencore 401k Pla
Trading Direct
Transamerica – Retirement – NetXInvestor
Unified Bank
United Launch Alliance 401k Savings and Retirement Plan
Unitus Community Credit Union
University of Iowa Community Credit Union
UPS 401k Savings Plan – UPS 401k Savings Plan
Valley Bank of Kalispell
Venecredit Securities
VOYA Annuity & Assets Contracts – Client Login
VOYA Life Insurance – Client
VOYA Retirement Plans
Waddell & Reed, Inc.
Washington Federal Savings
Washington State Employees Credit Union
West Michigan Community Bank – Personal
Westpac Securities Limited
Wiley Bros.
Woodbury Financial Services
York Securities
Yum Savings Center

You can also see and search all the bank connections available. If you already have a Toshl account, click here to open this bank list in the web app (log in required), where you can connect them straight away.

Posted in Announcements, Bank connections

How to Spend Less in Summer: Hints for Shoppers

Summertime. We are craving for it in the frosty winter evenings, we are waiting for it in the rainy spring mornings. When the desired season finally comes, we are constantly looking for an air-conditioned shelter: at home, office or… shopping mall. 

Summer is meant to be vacation time. It is calling upon us to go on sparkling adventures: traveling, visiting open-air events, hanging out with our friends… shopping. All this can be very appealing. At the same time, the long wish-lists push us to spend more in this season. 
Surely, there are ways to spend less in summer. We have already wrote about how to spend less on a summer trip in one of our previous blog posts. Today we are going to look at another challenge —  shopping.

Shopping therapy and its traps

We tend to overspend on special occasions. Why wouldn’t you indulge a bit more on vacations? It’s a case where our inner wishes match the intentions of the sales industry.

In sales, the summer is also known as a season of discounts and special offerings. Thus, if we go with this flow, we might end up overspending. And we might buy lots of things that are not necessary for us.

Researchers Selin Atalay and Margaret Meloy found that 62 percent of shoppers had purchased something to cheer themselves up, and another 28 percent had bought something to celebrate. This type of shopper is likely involved in “retail therapy”

It is true that if we feel bad, getting a new thing might improve our mood immediately. Shopping provokes us to imagine ourselves in a “better” life, where we’re dressed in fancy clothes and surrounded by pleasant-looking things. Purchasing makes those dreams seem real. 

And there’s nothing necessarily wrong with it: as proved by many great athletes, visualization can boost our performance and reduce anxiety. On the other hand, this shopping effect does not stay long enough to make us really happy. Moreover, when you tend to shop impulsively, you risk overspending your budget. In some cases, if the pattern of thoughtless shopping behaviour repeats quite frequently, it might be a sign of an addiction.

So, how to resist summer shopping when thousands of shops are offering incredible discounts? Of course, you can give in and buy the things you don’t need, often can’t afford. But how do you get rid of this budget-killing habit? 

Track and analyse your expenses

Experts say that the most effective first step for changing this habit is to identify why and how your shopping initially became a problem. They suggest starting to write a journal to keep track of our triggers. 

Here, the Toshl Finance app will be very handy. Simply keep tracking your expenses and incomes and add relevant categories and tags. 

If you are a Toshl Medici subscriber, you don’t need to add your expenses or incomes manually, they just fly in from your connected bank account. In this case, the smart categorisation system is learning from your past patterns and predicting the categories. To see how it works, try out the free 30-day trial of Toshl Medici.

If you keep tracking your expenses on a daily basis, you’ll discover the trends in your spending. Just check the Expense graphs. This chart will easily visualise your spending habits. If the category “Clothing & Footwear” is getting the largest space on the chart, it is an alarm. Reawake your willpower and limit yourself. 

Next time you see a new purse with a -70% or a new tablet with a -50% discount, try to think twice if you really need to buy any. In most cases, choosing one thing means giving up something else. Money spent on one thing could be the money spent on another thing. And there are always better (smarter) alternatives. For instance, for many of us, having some funds in a retirement savings account will be more useful in a couple of years than having lots of useless things at our apartments. 

Budgeting is important

Psychologists note that smart budgeting can increase our feeling of happiness. If we plan our expenses in advance, we might spend more money and time on the things that make us happiest.

University of Georgia’s Dr. Matt J. Goren suggests dividing our potential expenses into wants and needs while budgeting. In simple words: needs are “required stuff” (a necessity to buy a new laptop if your old one is broken and cannot be fixed) and wants are always the “fun stuff” (a desire to get a newer laptop when you still have a working one). 

According to Abraham Maslow’s hierarchy of needs, when we satisfy our lower levels of needs (physiological and safety needs), we get motivated enough to reach the higher levels (love, self-respect, and self-actualization). This way, we feel happier if our basic needs are covered. 

This applies to our fixed needs — such as food. Essentially, we are more vital and productive when we aren’t hungry. It can refer to variable needs as well, such as emergency expenses — a new substitute for a worn-out device. If you’re a freelancer and your laptop gets broken, you might have an urgent expense related to your job security.

Fixed needs are the stuff we can’t deny ourselves in everyday life, but we definitely can spend less on it. Variable needs such as any unexpected expenses are less pleasant for our pocket. If you plan some reserves in your budget for emergency cases, you will go through any stressful event having less negative emotions.

Photo by Maria Vernigora on Unsplash

When we spend on our wants, we can feel even happier. The thing is the duration of happiness depends on the type of want. 

Fixed wants are our daily expenses and are usually the result of our habits. For instance, every day you stop by a coffee place and buy some fancy drink (a premium quality espresso). When you discover that 500 g package of this coffee can be purchased at the local grocery store for a price you pay for the two cups at the coffee place, you will be surprised how much money you could have saved just drinking this coffee at home. The thing you need to do is to modify your daily premium espresso ritual. You might buy your favourite coffee at the grocery store and enjoy it at any time.

No, we should not neglect our wants. Covering some of the variable wants can motivate us and make us feel good. For instance, you might get inspired by the trip to Spain. The memories from this trip will stay longer than memories from buying a new pair of shoes. Buying experiences instead of things can contribute to our mental well-being. 

All in all, if we reduce spending on our fixed needs and fixed wants and plan some costs for our variable needs, we’ll have more money on our variable wants. As a result, we could afford enriching experiences such as postgraduate education or opening our own company and grow as personalities. To get to this goal, budgeting your expenses is a really good start.

For starters, find the Achilles heel of your spending: check your expenses graph and find which of your expenses really stand out. You can easily create a monthly budget aimed precisely at your spending weakness, for example, Clothes & Footwear, then set the budget to equal the amount you can spend on your monthly clothing needs. Toshl monsters will warn you as you approach the limit, so you could stop and think before buying some related product impulsively. Moreover, if you don’t go over the budget limit, you’ll definitely feel relieved. And all the summer sales ads will pass as a pointless buzz.

Already hot, eh? If you read these lines drinking a juice at the shopping mall, just remember to spend smart at the summer sales, track your expenses precisely and make budgets in advance. But whatever you do: don’t forget to enjoy your summertime. Make it magic. ;)

Posted in Budgeting, Personal finance, Tips & Tricks, Travel

The Toshl Web App Gets a New Design: a Chat with Janez and Jan

We’re starting something a little different on our blog today. Instead of just telling you what’s new, we’ll have a chat with Toshl’s team members. Today we’re meeting Janez and Jan. No, they are not one of the Toshl monsters, they are humans and they are real. Or at least we certainly hope so. ;) One envisions the app’s unique design, while the other puts the ideas into practice by coding. In this chat, we’ll talk about the redesign of the Toshl Finance Web App and their work in this project.

Guys, could you introduce yourself? What are your main duties at Toshl?

Janez: I’m in charge of the design and illustration. This part is quite important for Toshl Finance apps. So my job is about creating the interface of our apps and graphics in general.

Jan: I bring designs of Janez to life. I’m in charge of web app development. In other words, it is my task to transform the data into web pictures in the browser, so they look like we imagined them. And, of course, we discuss how things should look like together with Janez. It’s constant teamwork.

Toshl’s web app has changed significantly with the latest release. What was the purpose of this transformation?

Janez: We wanted to achieve a new feel for the whole app, so that it looks lighter. We paid attention to optimising the entire experience, not only the bare graphical interface.  

Jan: We saw a chance to make the app look fresh. The previous version of the web app was developed about 4 years ago, and these are light years in the IT industry. Thus it needed some updates. The timing of the overall redesign coincided with the code refactoring that we did. Now the things comply with the latest industry standards and it is easier to make additional upgrades.

How could we see it in user experience?

Jan: The previous version was very flat and hierarchical relationships between view parts and elements were not really clear.  Now, when we added different shadows to the elements and made them look floating, when we put some things in the background and placed others in the front, it looks more clear. With the recent changes, it is quite simple to understand what you need to click next on the screen.

All in all, the whole experience became easier, didn’t it?

Janez: Yes. Now it is easier to understand things. Colouring and shapes of the elements help you orient throughout the app.

Jan: Web app navigation got better, too. We have developed advanced animations that show what happens when you click some element. Before, when you clicked something, the next screen popped up immediately. It was not easy to process this instant change for the user. Now it transforms smoothly. Also, when some element gets hidden, it animates into the button that can bring it back. So you know where to find it to revert your change. For instance, all toggles, steps, and buttons on “Add budget” dialog are dynamically animated to give a sense of where they came from or where they go when we don’t need them anymore. Everything became more intuitive.

Janez: We worked on the systematisation of the app’s design as well. It relates to the changes in the buttons, there are some changes in the fonts. In this area, we made the first steps towards a wider design system that could better evolve over time.

Jan: Or, for instance, we improved the contrast. The background got light white, the fonts got darker. So the app is easier on the eye.

Could this redesign confuse the people who use Toshl Finance?

Jan: Not at all. All the elements are in their previous places. Some important parts are just more emphasized. Some less important things are in the background. The first contact with the overhauled app should be quite effortless.

Could you remember any funny story that happened on the way of this project?

Janez:  We are a serious company, no jokes.

You are serious but you have Toshl Monsters. Did they change somehow?

Janez: Monsters reflect Toshl’s humour. They stay the same.

Jan: Monsters are eternal. No need to change them.

Are there any hints you would like to share with Toshl users?

Janez: Overall, the app stays the same. So far functionalities did not change with this web app design update. It is just a refreshed look.

Jan: We didn’t want to complicate… Gradual changes are always a better option.

Otherwise, do you use Toshl Finance in everyday life?

Jan: Yes, I do.

Janez: Yes. Sometimes I fall asleep and forget to enter some cash expense in Toshl. Then I wake up and come back to the app… You know, we must use it because we’ll get lower salary otherwise… (Laughing)

Posted in Development, Opinions

Track Your Spending With Ultimate Accuracy by Splitting

For a couple of months, the Toshl team has been working diligently on a new splitting feature for the Toshl Finance apps. We are introducing this functionality for people who enjoy having their finance under complete control. It’s now easy to split the total of any receipt into smaller parts in the Toshl apps and make the tracking of your expenses and incomes more precise.

The splitting functionality is very handy when it comes to managing the bills issued for multiple types of expenses. You can keep an eye on your costs and sort them better by adding different categories to the parts of the bills in Toshl apps. After visiting a grocery store, it’s easier to note your multiple types of expenses (e.g. cosmetics, accessories, food). Once the bill for this purchase comes in, you can find it in your Expenses, open it and click “Split”. In a couple of clicks, you will split it into different types of expenses adding relevant categories and tags. In this way, you could track all kinds of your expenses easily.

Splitting into categories and tags is especially convenient for Toshl Medici users who use an automatic bank connection, but it can be also used with manual financial accounts. Other than splitting into categories and tags, it can help you track your shared purchases, loans, refunds or cashbacks.

All in all, it will make tracking your spending more precise and easier.

The splitting feature is available for all Toshl users, no matter whether you’re on the free, Toshl Pro, or Toshl Medici plan.

To use it, just make sure that the Toshl Finance mobile app is updated to the latest version:

Toshl for Android (3.3)

Toshl for iOS (3.3)

The web app is of course always up to date. It also features a refreshed look, so it’s easier on the eye:

Toshl Web App for tablets and desktops

Want to learn more about the feature? Check out the splitting tutorials for Android, iOS and the Web App.

Just keep calm and trust the Toshl monsters. They will split your bills. With pleasure ;)

Posted in Announcements

How to Split Your Expenses or Incomes (iOS)

To track your expenses and incomes more precisely, it is possible to split the total of the bills into smaller parts in the Toshl Finance apps. You can keep an eye on your costs and sort them better by adding different categories to the split parts of the bills. Other than this basic purpose, it can also help you better track your shared purchases, loans, refunds or cashbacks.

Splitting amongst categories and tags

By using the splitting feature, you are able to manage a common receipt issued for different types of expenses with high accuracy. For instance, a grocery shopping expense for 50 € comes in. You want to split it into groceries (30 €), alcohol (5 €) and cosmetics (15 €). By tapping Split on the expense, you can assign new amounts of split entries, use different categories or tags, and your expense tracking will be more precise than it has ever been.

1. Whenever you want to split an expense or income. Just tap it to open the entry details.

2. Then tap “Split”.

3. Enter the appropriate amounts, categories, and tags for split entries.

4. Tap the Save (tick) icon and you’re all done.

The split expenses will show up on the list with a special icon and will always be grouped together.

You can also find the other part of the split on the details of a split entry. In other ways, they behave just like any other expense, except that they can’t be split again.

Quick tips

  • The original expense will be split into 2 parts by default, but you can add up to 20 splits by tapping the + icon. New split entries will automatically get the remaining amount which hasn’t been covered by earlier splits yet. You can, of course, change it later to whatever you like.
  • The “remaining from total” amount always shows how much of the total amount of the original entry you still have to distribute among split entries so the amounts will match with your original spending. You can set any amount you want, but Toshl will warn you if you leave some funds undistributed or exceeded the original amount.
  • The location, description, reminders, and photos remain common for all parts of the split of the certain expense or income. You can edit them all at once when splitting. If you want them to differ among split entries, you can still edit them individually later, on the relevant split entry for an expense or income.

When using with connected accounts (Toshl Medici)

If you use Toshl Medici and have set a bank connection, your bank or financial service transactions will be added automatically to your expenses. Some will require to be reviewed, for example, if they need to be confirmed as transfers. You can also split an entry when Reviewing.

For that:

1. Go to the “Bank connections” section in the main menu.

2. Tap “Review entries” below a connection.

3. Tap “Income”/”Expense”.

4. Turn ON the switch “Split into multiple entries”. The usual splitting interface will show up and you can assign different amounts, categories, and tags.

5. Tap the Save (tick) icon.

When using with manual accounts (Toshl Free, Toshl Pro)

To split manually added expenses, open an expense and tap “Split”. Just like with automatically imported entries, feel free to split your expense into smaller multiple entries and add a matching category and tag.

When using manually added expenses, there’s less of a need for splitting. You can just add the expenses in multiple entries, to begin with. It might come useful though, especially when you import entries from a file.

Primarily, the splitting feature enhances your precision in sorting your expenses in different categories and tags. But it can also come handy for managing shared expenses, loans, refunds or similar. We’ll take a look at those cases below.

Splitting and paying back purchases with friends

The splitting feature will make your life easier when you are struggling with tracking shared costs with your relatives, friends or colleagues. As we all know, people tend to forget the things which are not written down. So how to keep tracking your shared expenses? You can do it in a few taps in the Toshl Finance apps.

For instance, you are going for dinner with your friend. When it comes to paying the 100 € bill, you find out that you have no cash. You suggest paying by card for both, and your friend agrees to pay his (or her) part back. How do you note it down in Toshl

When this expense from your credit card comes in, you just need to split it into appropriate entries, both yours and your friend’s sharing, in the way described earlier.

You might add a special category and tag to your friend’s part of the bill (split entry).

After the splitting is done, you will see both split entries in Expenses marked with the split icon.

If your friend pays his (her) part back in cash immediately:

  1. Find the split entry for the lent amount and tap “Delete”.
  2. Enter the amount of the lending part as Income on the relevant account if they paid you back in cash.

Whether your friend prefers to pay his part of the dinner costs later, you may add a reminder to your lending split entry. For that:

  1. Open your lending split entry.
  2. Tap “Edit”.
  3. Tap Reminder icon and enter the custom date for the reminder (for instance, 1 day before you expect to get lending back at 11:00 AM).

Toshl will remind you about the due date at the time you set. It can’t notify your friend though, so that part is up to you ;)

As soon as you get the funds back:

  1. Open the Toshl Finance app.
  2. Go to Expenses.
  3. Find the split entry for the lent amount and tap “Delete”.
  4. Enter the amount of the lending part as Income on the relevant account if they paid you back in cash.

Note that at this last step you don’t have to do anything if you use Toshl Medici and have connected a bank account that the lending is paid to. Your friend’s transaction will be added to Incomes automatically.

So, it is all covered now. Savor the relief.

You can use this to track any kind of reimbursement in Toshl. For instance, business travel reimbursements could also be noted this way.

Splitting in foreign currencies

Let’s visualize that you are going on a business trip to some foreign country, for instance, Ukraine. You stay for a few nights at the luxury hotel in Kyiv booked by your company in advance. Later, you order a coffee and snacks at the hotel and you get the common receipt (3500 ₴) at the reception desk at the end of your stay.

Your company will reimburse the accommodation costs (3200 ₴), but you need to cover all other expenses (300 ₴) on your own. You can split this receipt into two parts in the Toshl app. You’re also able to track your reimbursement for the accommodation part, as it has been described in the previous case. However the bill is issued by the hotel in foreign currency, and you have no idea how to convert both parts of expense to your main currency (e.g. €). What should you do?

Just relax. It is not a big deal at all. When you split an expense in Toshl app, you may use any currency for each entry.

To do that:

  1. When entering split entries of your expense, just tap the currency icon in the split entry.
  2. Select the preferred currency from the drop-down menu.

The preview in your main currency will be displayed, so you’ll know if you’ve covered the original amount, no matter which currencies you used.

No need to panic when you receive a bill for shared expenses in a currency that you are not quite familiar with. Toshl monsters will help you juggle those multiple currency exchange rate calculations with such ease, it will be as if you can see inside the matrix.

Quick tips

  • Like everything in Toshl, splitting also works with different currencies. You can set individual currencies and amounts for the split entries.
  • Toshl will automatically recalculate the value in the entry in your main currency.
  • If the currency of the entry doesn’t match the account currency or the main currency, a preview of the value in your main or account currency will be shown.

Getting a refund

Let’s suppose that you purchase two items (T-shirt for 15 € and wallet for 25 €) at some online shop. You pay by card and receive the common receipt for 40 € for both items. When you get the parcel, you try the T-shirt at home and it happens to be oversized. You contact the shop, and they answer they could make a refund for a T-shirt to your bank account. Then you run into a dilemma how to track this expense in Toshl app: this common expense has been already noted on your account.

First of all, it might be a good idea to set a reminder for your refund for the date when you expect to get it back from the shop, as it is described in one of the cases above. In this way, you will be updated about the due date by Toshl monsters so you could send a polite email to the shop if no refund arrives.

You’ll get the refund as an income on your account. If you’re ok with this kind of tracking you’re all done, no need to do anything more. However, if you’re bothered by the full original expense still being present, for budgeting or other reasons, you can:

  1. Open Toshl Finance app.
  2. Go to Incomes.
  3. Find a refund income that has just arrived in your account.
  4. Delete the refund income.
  5. Split the original expense amount into two entries: the amount of refund and the amount of the other purchased item.
  6. Delete the refund split entry of the original expense.

This way, you are able to balance your expenses and incomes.


In some countries, you may also have the option to withdraw additional cash from your card when paying at a supermarket or other location. You can ask the merchant to add an extra amount to the purchase price and receive the added amount in cash. The common expense will be noted on your bank account. The thing is you will receive cash in hand. How to note this?

Toshl will take care of the correct balance of your accounts. As soon as you get the cash, you can note that a part of this expense is really a transfer between your card and cash accounts. Just like an ATM withdrawal.

When the expense comes in:

  1. Open Toshl Finance app.
  2. Go to Expenses.
  3. Find the expense that has just arrived in your account.
  4. Split it into two parts: the amount of purchase and cashback amount
  5. Find the split entry for the cash amount and tap “Make transfer”.
    Select your cash account and tap “Save”.

Thus, the amount of cashback is noted as transfer to another account, so you have it all under control.

You‘ve got your money in the right place. That’s good news!

Quick tips

Occasionally, if you decide to un-match the transfer of split entry, you can revert the change easily:

  1. Just tap “Un-match transfer”. The pop-up window will be displayed explaining what happens on this action.
  2. Tap “Cancel” if you change your mind, or tap “Un-match transfer” if you want to complete the action.


You might unsplit your expense or income whenever you feel like. To do so:

  1. Open any of the split entries of the original expense.
  2. Tap “Unsplit”.

The splitting changes will be reverted, and the original expense will appear in the Expenses list.

To sum up, with the splitting feature, you are able to manage your expenses more precisely. Moreover, it allows you to better track your shared purchases, loans, refunds, and cashbacks. It will take care of all the records, no matter which currency they’re in. By splitting, your finances become whole. Toshl, powered by irony.

Posted in iOS Tutorials, Tutorials