Change my bank account to a current, savings or investment account
I would like to change the type of bank account: either set it as a current, savings or investment account.
The type will be used to detect transfers between your accounts, and for example exclude them from the weekly and monthly (cashflow) reports. We will additionally generate separate reports and insights for each of these respective scenarios:
* The transfers between current accounts will be identified as transfers.
* The transfers between current and savings accounts will be identified as savings.
* The transfers between current and investment accounts will be identified as investments.
Note (from Cake): In the future, we aim to set this type automatically.
For the accounts that connect with a bank (connected accounts), we’re no longer going to allow users to change the account type.
The bank provides the correct account type during the account synchronisation.
Jorim Tielemans commented
You can add that account to Cake as well! Then, when you go into settings, simply change the account type to 'savings'.
Bart Reyserhove commented
I would like to label an account as a savings account even though it is technically not a savings account. On a monthly basis I wire a fixed amount to a transfer account at another bank so that the bank can then automatically buy shares of an investment fund. Cake now sees that as an expense while it is not.