Rename Payee Automatically

As you have probably noticed on your bank and credit card statements, online or paper, the payee associated with a transaction is not always easily recognizable. Quite often, the payee has additional characters or words and, in general, might not be consistent from one purchase to another.

InstaBudget can automagically rename incoming transactions based on your established renaming rules. It can do so either for a particular purchase or all of the ones matching a specific pattern.

This guide will explain step by step how this works.

Accessing the Tool

You can access this tool when you are viewing the details of a purchase. The pen icon next to the payee will bring you to the renaming tool.

Setting a New Name

At the top of this tool, you can immediately edit the payee's name, pick something to your liking, or even throw an emoji in there if you feel like it.

Current or All

You can then decide whether you want to rename the payee only for the current transaction or all of the transactions using that same payee.

Once or Always

Now, this is where the magic happens. You can decide to rename only 'Once' or 'Always.' By picking 'Always,' InstaBudget will apply this renaming rule for any incoming transactions that fit the rules defined in the screen below.

Matching Rules

For the automatic renaming rules, you can decide whether to match the bank's name exactly or partially.

Using 'Starts With,' 'Contains,' or 'Ends With,' InstaBudget will use the text entered in the field under to match in the incoming transactions.

You have one more knob you can tweak. You can decide whether to apply this renaming rule globally to all accounts, a specific bank, or a particular account.

And Voilà

Click 'Rename & Create Rule,' and InstaBudget will start formatting those pesky names into something pretty 🌸.