Transfers Between Accounts

Transfers record money moving between your own accounts. Unlike regular transactions, transfers affect two accounts simultaneously—one decreases while the other increases by the same amount.

When to Use Transfers

Use transfers when you:

• Move money from savings to checking
• Pay off a credit card from your bank account
• Transfer between investment accounts
• Move money to or from a cash account

Creating a Transfer

1. Open the source account (where money is leaving).

2. Click Add Transaction and select Transfer Money.

3. Choose the destination account (where money is going).

4. Enter the amount to transfer.

5. Set the date of the transfer.

6. Add an optional description.

7. Click Save.

Financio creates linked transactions in both accounts:

• A withdrawal in the source account
• A deposit in the destination account

Transfer Details

Amount

Enter the transfer amount as a positive number. Financio handles the direction automatically based on source and destination accounts.

Date

The date the transfer occurred. Both the source and destination transactions use this date.

Description

Optional notes about the transfer. If left blank, Financio auto-generates a description like "Transfer to Savings Account".

Viewing Transfers

Transfers appear in your transaction list like other transactions, but with some differences:

• The merchant shows as "Transfer" with the other account name
• Transfers are linked—opening one shows the connection to the other

Editing Transfers

When you edit a transfer:

1. Click on the transfer transaction
2. The form shows it's a transfer (destination account displayed)
3. Modify the date, amount, or description
4. Click Save Changes

Both linked transactions update together.

Converting Transactions to Transfers

If you've already recorded transactions separately in two accounts that should be linked:

1. Open one of the transactions
2. Click Convert to Transfer
3. Select the other account involved
4. Financio searches for matching transactions
5. Select the matching transaction to link, or create a new one
6. Confirm the conversion

Finding Matches

When converting, Financio looks for transactions in the other account that:

• Have a similar amount (opposite sign)
• Are within a few days of the selected transaction

Select a match to link the existing transactions, or leave unselected to create a new transaction in the other account.

Automatic Detection During Import

When you import transactions, Financio automatically identifies potential transfers. If an imported transaction matches an uncategorised transaction in another account (same amount, opposite sign, similar date), you'll see a transfer icon in the import results.

Click the icon to review the match and choose:

• Confirm as Transfer — Links the transactions as a transfer
• Not a Transfer — Dismisses the match

This is faster than manually finding and converting transfers after import. Transactions flagged as potential transfers won't receive AI category suggestions until you dismiss the transfer match.

Deleting Transfers

When you delete a transfer:

1. Open the transfer and click Delete
2. Confirm the deletion

Both linked transactions are removed. The balances in both accounts adjust accordingly.

Credit Card Payments

A common use for transfers is paying off credit cards:

1. Open your bank account
2. Create a transfer to your credit card account
3. Enter the payment amount

This reduces your bank balance and reduces the amount owed on your credit card (making the negative balance closer to zero).

Common Transfer Scenarios

Savings contributions

Transfer from checking to savings each payday to build your emergency fund or save for goals.

Credit card payments

Transfer from your bank account to credit card to pay off the balance.

Investment funding

Transfer from your bank to investment account when adding money to your portfolio.

Moving between banks

If you have accounts at multiple banks, record transfers when moving money between them.