Loans & Mortgages are coming to Emma!

We are adding a 4th tab in Accounts.

This will be called “Loans” and will include loans, mortgages and any type of credit.

In the US and Canada, we already have the ability to retrieve these accounts, so they will automagically show up. On the other hand, in the UK, we don’t support any yet; so manual balances in Emma Pro will be handy - we have just added a new type. :slight_smile:

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So in other words you need to pay for Pro to manage a loan or mortgage in the UK but it makes it literally useless because now I have to start updating it myself including any interest accrued on the total amount

So you’re paying for an inferior version of what Canadian/American customers get now

Poor show.

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Yes, we want to keep feature parity (between the countries) and since we already have manual accounts, it makes sense to keep it there. :slight_smile:

Even in Canada it would Great only if it supports my providers. While searching on plaid I didn’t found any of my car loan provider like HONDA canada or GM canada or Mortgage provider.

Yes, in Canada, our reach is a bit limited right now. We have 30+ banks, similar to the UK.

In US, we have lots of loans & mortgages, so it makes sense to add this feature. We also have the possibility of getting transactions, interest rates, repayments and lots of more detailed info later on. :slight_smile:

Very interesting and can only wish if it ever make it here but relying on company who relies on some other company(Plaid) is bit odd place to be in.

What Emma can do is help us with adding manual Transfers and repeated transaction for manual account atleast so we can manage those loans and mortgages manually easily.

That isn’t feature parity.

Canadians and Americans can link accounts

The British can’t

Do you see where there is no parity? They get automatic linking without a fee and I have to pay £4.99 a month to manage my own account :thinking:

I tried, but Emma isn’t moving in the direction I personally believe is best. I’ll continue to look here while I wait for the changes I believe that are common sense, but I will be using Yolt for the foreseeable.


Excel is much easier - you can import all your transactions too.

It might work if you could link transactions from a real account to your manual loan account AND maybe add the loan details, so you could calculate the balance…

Really, I don’t see the point of this for the UK, unless you’re planning to add accounts :soon:

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No, we are not planning to add accounts.

An alternative would be to just enable the tab if you have Pro.

Yes, of course there is no parity in terms of linking.

We have built the UI for US and Canada; but we don’t have a problem to enable it for the UK.

Another option is to hide it for the UK and just enable it if you have Pro, but again, what difference does it make? :sweat_smile:

What’s the best direction? I am more than happy to hear your thoughts. :smiley:

Zopa is a UK loan provider that has OpenBanking implementation, I assume others do too, can you not use OpenBanking?

The institutions that have enrolled are pretty much those that offer “payment accounts”, so not really sure there are any lenders there, but we can check.

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Move away from this freemium model you have going.

Manual accounts for free - pay for linked accounts if you have to. Why should I be paying for an inferior feature? I don’t want to manage my own accounts or I’d use a spreadsheet or my own program.

Renaming transactions needs to be included in the core free offering. You don’t display good names to begin with we need the ability to change that.

Splitting transactions also needs to be moved to core.

You guys imo are missing your actual revenue stream - I think you could offer the full thing for free product wise. Spend a bunch of money on advertisements then start categorizing customers, then you can improve the rewards section while earning some cash. Our spending data is your gold dust.

I’d agree with Recchan on some of this. While I appreciate you need a source of revenue, as soon as Yolt replicate enough of your paid features in their free app it’s going to be hard to resist them.

Yes, we just don’t want to use, share or sell our users’ data. :slight_smile:

I think we can leave that to competitors or other companies. We were a bit skeptical about Pro at first, but it’s working really well and people are happy. I also think it’s a good way to a) support the immense amount of work we are doing b) get a couple of extra cool features. :rocket:

In the past few months, we have actually seen people switching from Yolt to us and are confident that this will keep happening. That is just because we are not a side project by ING, but actually care and believe in what we do.

It’s really difficult to communicate, but we are giving everything and some of us have completely given up their personal life to make Emma happen! Our goal still remains to build the simplest and most beautiful product out there.

I don’t see or expect any users churning if some competitors build these features. :stuck_out_tongue:

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I don’t doubt that; it’s clear that you guys care, have invested a lot of time and are very driven to make Emma a success - respect for that! I like Emma’s ethos and community-orientated nature, but, I still think it’s a hard sell to have to pay for features (especially given that people using the app are probably particularly tight with money!) when competitors may offer them for free. I’m one of the people you speak of, I switched from Yolt to Emma, but as Yolt and others implement key features for free it’s going to get tougher to justify spending money on pro, unless Emma can keep sufficiently ahead of Yolt in terms of features…that’s my two cents anyway.

I don’t have any competitive competitor to go for now and kind of happy with Emma and also don’t mind paying you for pro but you need work on your bugs man, there should be some priority support for Pro. I have reported lots and lots of bugs and it hardly Gets resolved. These bugs are ruining the experience what you guys want to put across…