Pockets shouldn't be separate accounts automatically

Soon-to-be-former Simple user here.

I am not sure what the hype is of pockets being separate accounts. Both Envel and One Finance do the same thing. This is completely opposite of what Simple did, and seems really limiting.

For one, the money you put in your pockets is now no longer accessible to your debit card. You have to manually change what pocket your debit card spends from before making a purchase, or you must manually move money over. This doesn’t work for me when I temporarily use money from other pockets to cover large expenses such as my mortgage, especially if the mortgage is due a few days before payday.

The other problem is that my wife and I need to share these pockets, but each pocket I create needs to have her be added to it separately. It doesn’t give me the kind of flexibility I need to create quick goals on the fly.

I would rather see the approach Simple took. Their software worked off of two accounts, a low-interest checking and a high-interest savings. They then allowed you to create virtual envelopes (they call goals and expenses). These envelopes all worked off of those same two accounts.

Simples approach solved both of my issues in that it allowed me to “borrow” from my envelopes until payday since the envelopes all belonged to the same account, and it allowed me to create, delete and modify my envelopes whenever I chose without having to make sure I added my wife to any newly created envelopes. It also let me budget better because I didn’t have to choose the envelope i was spending from before I actually spent the money.

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That said, I wouldn’t mind an optional feature when creating a new pocket to turn on “protections”, where protections means a separate account that cannot be borrowed from.

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Hi there! Welcome to the community forum! :wave: Thank you for your feedback - we really do appreciate it and look forward to building and improving Envel with it!

We’re releasing an update soon on what we’re up to at the moment which will address many of your separate account concerns so stay posted!

At the moment, you can have up to 99 accounts so you could create dozens of shared envelopes. I understand the frustration with having to add your wife to each of these envelopes but you will be able to cover all your shared expenses with this number of envelopes :slight_smile:

I really like your ‘protections’ idea! Very cool!

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I agree with what was stated here. I feel like this is really limiting at the moment. The fact that envelopes are separate from your main account means you’re constantly making transfers to your “cash” envelope in order to use your card if there are insufficient funds.

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Yeah, the way Simple was set up was it was basically just a budgeting tools layered onto a checking account, where the envelopes were all virtual but didn’t actual move any money in the background.

I think the best way to develop something like this is to develop the budgeting software completely separate from the actual banking layer. The fact that the budgeting software is manipulating the banking layer (by creating new accounts on the fly) is what is wrong here, and just adds complexities that slow down the project plan.

I say that as a senior software engineer.

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Hi Mark! Give this a read for some upcoming updates :grin: We’ll be introducing subaccounts!

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I just received the email about the upcoming updates, AMAZING! The subaccounts along with the other changes have gotten me really excited about using Envel. Nice work Envel team!

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I completely agree with this. I was a simple user also and it’s been extremely frustrating with Envel. Because the debit card isn’t linked to all my accounts automatically, I frequently run into situations where my card is declined. Logging onto the the app to link my card is time consuming, inconvenient, and not necessary.

For a company that says they like to have fun while banking, I’m not having fun and this feature feels like a punishment.

Hey there!

If you read the article I posted in response to your other post (here if you missed it!), you’ll see that we are implementing new sub accounts that will alleviate a lot of the issues surrounding multiple accounts. A lot of users have brought up this same frustration, and in response we changed our product development plan to incorporate these subaacounts.

We are looking for beta testers to pilot the new sub accounts, so let me know if you are interested!

Best,
Jacqui

Thank you for your quick response. I’d love to beta test. Let me know.

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Will do, I’ll add you to our interest list!

If possible I would love to beta test this feature as well. One of the main features I been waiting for, thanks!

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Hey Ceasar,

Thank you for your interest! I will add you to the list, and we will keep you posted with the status of our beta testing opportunities.

Cheers,
Jacqui