My Spending & Outside Accounts

My Spending FAQ

• How does My Spending work?
• My Spending analyzes all of your transactions and automatically categorizes them for you. The My Spending feature allows you to view your spending in specific categories, set spending limits & alerts, and view your monthly spending in all categories.

  The auto-categorization feature automatically categorizes your transactions so that you don’t have too.

  The My Spending tab gives you ways to monitor your spending from Online Banking accounts to better manage your money. Using My Spending, you can easily see how much you have spent over time and where your money is going. You can even set up alerts to notify you when your spending begins to exceed limits that you have specified.

• How does Outside Accounts work?
• Accounts can be synced from most financial institutions, including data from checking and savings accounts, loans, credit cards, investments, and more. To connect an outside account:
  1. Click on the “Accounts” icon at the top of the page.
  2. Then click on “Outside Accounts.” 
  3. Click on “Add or Sync Outside Balance” to open the Manage Outside Accounts window.
  4. Search for a financial institution and select it from the list of results.
  5. Enter the appropriate login credentials and answer any multi-factor authentication prompts, such as code verification or security questions.
• How often can I change my categories?
• You can change your categories as often as you would like.
• How does My Spending know what category to assign to my expenses?
• Automatic categorization of each transaction and clean, understandable transaction descriptions are now available throughout your Digital Banking experience. And if you feel the transaction belongs in another category or the description is incorrect – click and categorize it or modify the description – the system will learn your preferences over time. Not to worry about any expenses that don’t fit nicely into the new categories as you can still add up to 15 of your own custom categories to meet your specific needs.
• What happens if I go over my limit? Will my card decline?
• The My Spending limits do not impact the actual funds in your account. In the event you go over your limit and still have funds in your account, the funds will still debit from the account. Please contact your financial institution to review your overdraft policy.
• How many outside accounts can I add?
• There isn’t a limit to the number of outside accounts. You can add as many as you would like.
• What are limits?
• Limits allow you to see spending limits on specific categories and your overall spending to keep a better watch on your finances and adjust your spending habits more effectively.
• One of my account institutions can’t be found. What can I do?
• Wilcox utilizes multiple aggregation methods to provide the best possible coverage and connection stability, but there are many types of online accounts, and not all are compatible with aggregation. If you have an account with an unsupported institution, please submit a support request so our team can investigate whether a connection can be added.
• Where can I find the transactions for my outside accounts?
• On the Home page you will see a Recent Activity button next to the outside accounts. Click that and you can view the most recent 30 days of activity on that account.
• Can I transfer money to my linked outside accounts? Is there a fee?
• Account aggregation does not allow you transfer money to an external account. Synced outside accounts are view only and only display the last 4 digits of the account number. Please contact your financial institution to see if they support external transfers.
• Can I watch more than three categories?
• No, at this time you can only set spending alerts for 3 categories. You have the ability to change and modify those whenever you please.
• What do I do if I notice a transaction has been added to the wrong category?
• In examining your spending transactions, you might want to change the category from the one automatically assigned by the system to something more appropriate. There isn’t a limit to the number of times you can change the category.

  For example, you might change a transaction at Acme Deli from “Restaurants” to “Groceries” depending on what the spending was at that location.

  To do this, click the transaction’s category in the listing, then select the desired category from the drop-down list that appears. The re-categorized transaction stays on the page until you refresh the page or navigate away and return. Any other dependent information (such as averages) updates immediately.

• How quickly will by transactions be categorized?
• Transactions are automatically categorized when they are posted to your account. Please contact your financial institution for questions regarding items posting to your account.
• I have multiple accounts with an outside institution, but only some were imported. How can I add the missing accounts?
• Most connections will import all accounts that you have with a financial institution. However, some institutions will have different connections for different account types. This means that if you have several accounts with an institution, such as checking account, a loan, and a credit card, you may need to search for and add each account connection individually. This can typically be seen with mortgages, loans and credit cards at banks and credit unions.
• How do I fix an account that is having a problem syncing?
• Next to the failing account, click on the “Repair Sync Now” icon to open the Connections view. Follow the steps on the screen to repair the account. This typically includes refreshing the account, re-entering your login credentials, or logging into your account in a separate tab or window to resolve connection issues at the outside institution’s website.
• What if I encounter a problem with My Spending and Outside Accounts?
• Contact our support team: [Institution Support Phone Line]