How does Rankk categorize transactions?

When a transaction is received from your connected financial institution, Rankk reviews the available details.

These details may include:

• The merchant name
• The transaction description
• The account type
• Whether money entered or left the account
• Information provided by Plaid or another connection service

Rankk then places the transaction into the category that appears to fit it best.

Common categories may include:

• Groceries
• Dining
• Shopping
• Housing
• Transportation
• Entertainment
• Bills and utilities
• Health
• Income
• Transfers

Categories help turn a long list of transactions into a clearer view of your spending.

For example, instead of reviewing every purchase one at a time, you can see:

• How much you spent on dining this month
• Which category costs you the most
• Whether your shopping spending increased
• How your spending changed from last month
• Whether you are staying within your budget

Learn more about understanding your spending.

Rankk can only use the information provided by your financial institution and connection service.

A category may be incorrect when:

• The merchant name is unclear
• A merchant sells many types of products
• The transaction description is incomplete
• A payment looks similar to a transfer
• The transaction is still pending
• One side of a transfer is missing

For example, a purchase from a large store may include groceries, clothing, and household items, but the transaction may only show the store’s name.

Rankk tries to identify money moving between your own accounts as a transfer instead of spending or income.

For example, moving $500 from checking to savings should not count as $500 of spending or $500 of new income.

Learn more about how Rankk handles account transfers.

Yes. A pending transaction may receive a different merchant name or category after it becomes completed.

For example, a pending restaurant charge may first have a general category. Once the final transaction is received, Rankk may update it to Dining.

Learn more about pending and completed transactions.

Open the transaction and review its merchant, amount, account, and date.

If Rankk allows category editing, select the correct category and save your change.

If the category cannot be changed or several transactions are being categorized incorrectly, contact Rankk support.

Include:

• The merchant name
• The current category
• The category you expected
• The transaction date and amount
• A screenshot, if helpful

Do not include your password, verification code, or full account number.