Definition

Internal transfers are transfers made across your bank accounts. For example:

• You moved £200 from your current account to your savings accounts

  <aside> ☝ Moving £200 to your savings account doesn’t mean you saved £200! See:

  What you move to your savings account isn’t what you save

  </aside>

• You repaid £900 credit card balance from your current account

• You withdraw £300 from your savings to your current account

• Auto round-up transactions

Transfer to/from accounts that are not connected

Internal transfers are cash flow neutral

The Nova AI will automatically identify internal transfers and exclude them from your analytics, otherwise they would artificially gross up your income.

Example:

• You earn £3,000 and withdraw £4,000 from your savings to your current account. If they’re not excluded, Nova will believe you earned £7,000 this month.

How they’re represented

Internal transfers are represented by the logo of their banks in your transaction list.