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When you try to edit a pending transaction downloaded from Online Banking, you might see the following message:
It's not allowed to edit pending transactions in online accounts, because they may be changed by your bank. You can edit them once they have been cleared.
The message itself explains why we don't allow editing those but here we can provide bit more details.
Editing pending transactions downloaded from Online Banking accounts is not allowed because the bank can change any of the following while the transaction is pending:
- the transaction date,
- the transaction description,
- the transaction amount.
The last one is valid usually when the transaction involves a foreign currency exchange.
That's a big problem for us as our Online Banking partners are using this very information to recognize which transaction is which. When you refresh your Online Banking account, our Online Banking partners parse your account transactions to receive a list of them. They then compare the complete list from your bank to the list of transactions they have already sent to MoneyWiz. They use the above information to figure out which transactions were already sent over and which are new. In case some details change, this can cause the algorithm to get confused and send some transaction twice, causing duplicates.
For this reason, we are deleting all pending transactions downloaded from Online Banking during each account refresh and re-downloading it as a fresh list. Because of this, we also do not allow to modify pending transactions downloaded from Online Banking.
Will this ever change?
Yes! We are looking for possible changes to the algorithms and closely working with our Online Banking integration partners to find a better solution that would not put your data at risk.