Transaction categorization
Belvo’s Transaction categorization helps you understand and analyze data by categorizing your transactions. This means we use a combination of internal and external data sources to provide a standardized category and subcategory for each transaction as well as additional data regarding the merchant involved (name, logo, website URL). By categorizing your transactions you will gain:
- actionable insight into your user’s income and spending habits
- opportunities to improve your user’s financial health
Every time you make a POST request to our Transactions resource or a new transaction is identified for a recurrent link, Belvo enriches these transactions with an assigned category, subcategory, and merchant information (merchant’s name, logo, and website URL).
Get Transaction categorization
If you want to opt in to enable Transaction categorization, just reach out to us and we’ll get right to it 😎. For clients not using our Transaction categorization product, we return
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Bill & Utilities
For each Bill and Utility transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Electricity & Energy | Recurrent bills and expenses, such as electricity, energy, and gas bills. |
| Rent | Rent payments |
| Telecommunications | Telecommunication expenses such as Internet or mobile services. |
| Water | Water bills |
| Other | Other transactions related to bills and utilities |
Credits & Loans
For each Credits & Loans transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Auto | Loans and leases for motorized vehicles including cars and motorcycles. |
| Credit Card | Credit card payments. |
| Instalment | Instalment payments. |
| Interest & Charges | Fees and charges for missed payments, credit interests, and other penalties. |
| Mortgage | Mortgage loan payments. |
| Pay Advance | Salary advances, including payday loans. |
| Personal | Personal loans, including credit card cash advances, “buy now pay later” (BNPL), high-cost short-term credit, and microloans. |
| Other | Transactions related to credits & loans that do not fit in any of the above subcategories. |
Note: Can be Outflow or Inflow transaction types
Deposits
For each Deposits transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| N/A | ATM deposits, prepaid card top-ups, account top-ups. |
Fees & Charges
For each Fees & Charges transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Adjustments | Adjustments made to account balances. |
| Bank Fees | Charges for account maintenance and other services. |
| Chargeback | Reversed transactions related to customers’ disputes for their credit or debit card. |
| Refund | Transactions when a product is returned or a purchase is canceled by the store or the company and the customer is refunded the amount paid for the item. |
| Blocked Balances | Blocked balances by financial institutions or through judicial channels. |
| Alimony | Financial support transactions that one spouse provides to the other after separation. |
| Other | Transactions related to fees & charges that do not fit in any of the above subcategories. |
Food & Groceries
For each Food & Groceries transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Alcohol & Tobacco | Purchases in liquor stores, including beer, wine, tobacco, and smoking products like electronic cigarettes. |
| Bakery & Coffee | Purchases bakery items and coffee. |
| Bars & Nightclubs | Bars, cocktails lounges, discotheques, nightclubs, and taverns selling alcoholic beverages. |
| Convenience Store | Transactions related to purchasing items from convenience stores. |
| Delivery | Delivery purchases. |
| Groceries | Purchases of fresh produce and groceries, including farmers’ markets. |
| Restaurants | Dining expenses, fast food chains. |
| Other | Transactions related to food and groceries that do not fit in any of the above subcategories. |
Home & Life
For each Home & Life transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Education | Educational expenses such as tuition fees, textbooks, and school supplies. |
| Gyms & Fitness | Gym and fitness centers, personal training, workout classes, memberships (including country clubs and private golf courses). |
| Hair & Beauty | Manicures, haircuts, waxing, spa and massage services, and bath and beauty products. |
| Health | Dental, optician, and medical expenses. |
| Home Decor & Appliances | Furniture, bedding, and home accessories and appliances. |
| Laundry & Dry Cleaning | Wash and fold, and dry cleaning expenses. |
| Pharmacies | Pharmacies, drugstores, nutrition, and vitamin shops. |
| Professional Services | Professional services, consulting fees, and other types of service-based payments. |
| Veterinary Services | Prevention and care procedures for animals and pets. |
| Other | Transactions related to home & life that do not fit in any of the above subcategories. |
Income & Payments
For each Income & Payments transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Freelance | Income earned from freelance work or self-employment. |
| Interest | Interests on loans and bank balance. |
| Retirement | Income from pension programs. |
| Salary | Salary payments. |
| Government | Income received from the government, such as Social Security or unemployment benefits. |
| Rent | Passive incomes from property rental (such as residential housing and commercial facilities). |
| Other | Transactions related to income & payments that do not fit in any of the above subcategories. |
Insurance
For each Insurance transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Home Insurance | Home insurance, renter's insurance, earthquake insurance, and similar transactions. |
| Auto Insurance | Cars, motorized vehicles, and motorcycles insurance. |
| Health & Life Insurance | Health insurance, life insurance, disability insurance, and similar transactions. |
| Other | Transactions related to insurance that do not fit in any of the above subcategories. |
Investments & Savings
For each Investments & Savings transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Savings | Money invested in savings accounts. |
| Fixed income | Investments in fixed income securities such as bonds. |
| Equity | Investments in stocks or shares of companies. |
| Investment Funds | Investments in mutual funds, index funds, or exchange-traded funds (ETFs). |
| Derivatives | Investments in financial contracts derived from an underlying asset, such as options or futures. |
| Cryptocurrencies | Investments in digital assets such as Bitcoin or Ethereum. |
| Other | Transactions related to investments & savings that do not fit in any of the above subcategories. |
Online Platforms & Leisure
For each Online Platforms & Leisure transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Apps, Software and Cloud Services | Purchases of apps, software, or cloud services. |
| Events, Parks and Museums | Purchases and long-term memberships at sporting events, music venues, concerts, museums, zoos, and amusement parks. |
| Gambling | Gambling, casinos, government, and sports betting. |
| Gaming | Digital and in-person video game purchases and subscriptions. |
| Lottery | Transactions related to lottery games. |
| Movie & Video | In-home movie streaming services, movie theaters, and video rentals. |
| Music & Audio | Digital and in-person music purchases (including music streaming services, podcast subscriptions, and record stores). |
| Other | Transactions related to online platforms & leisure that do not fit in any of the above subcategories. |
Personal Shopping
For each Personal Shopping transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Books & News | Bookstores, and newsstands, including magazines and newspaper subscriptions. |
| Clothing & Accessories | Apparel, shoes, jewelry, thrift/vintage stores, and subscription boxes like Stitch Fix. |
| Department Store | Large shops stocking many varieties of goods in different departments. |
| Electronics | Purchases of electronic devices or gadgets. |
| E-commerce | Multi-purpose e-commerce platforms such as Amazon and eBay. |
| Gifts | Photo, gifts, gift cards, and floral stores. |
| Office Supplies | Office goods and printing stores. |
| Pet Supplies | Purchases of pet food, toys, or accessories. |
| Other | Transactions related to personal shopping that do not fit in any of the above subcategories. |
Taxes
For each Taxes transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Auto Tax & Fees | Vehicle taxes and fees, such as registration and licensing fees. |
| Donation | Charitable donations or contributions. |
| Government Fees | Payments of fees related to government services or licenses, such as driving licenses, passport renewal, immigration services, and bail and bond payments. |
| Income Tax | Payments for income taxes or estimated tax payments. |
| Real Estate Tax & Fees | Payments of property taxes or fees related to real estate ownership. |
| Tax Return | Refunds from the government. |
| Other | Tax-related transactions not falling under any of the above categories. |
Transfers
For each Transfers transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| N/A | Generic transfers with another account, including TED, DOC, PIX in Brazil, wire, and ACH transactions. |
Transport & Travel
For each Transport & Travel transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| Accommodation | Hotels, motels, and hosted accommodations. |
| Auto Expenses | Oil changes, car washes, repairs, tires, towing, auto parts, and similar expenses. |
| Auto Rental | Car rentals, charter buses, vans, scooters, and moving trucks as well as non-motorized vehicles. |
| Flights | Airline airfare, baggage fees, and related expenses. |
| Gas | Gas station purchases, such as gasoline, fuel, or petrol refueling. |
| Mileage Programs | Reward programs offered by airlines and other travel companies. |
| Parking & Tolls | Tolls for highways and bridges and parking (including long-term vehicle storage). |
| Public Transit | Public transportation, including rail and train, buses, metro, and ferry. |
| Taxis & Rideshares | Taxi, rideshare, and limousine services. |
| Other | Transactions related to transport & travel that do not fit in any of the above subcategories. |
Unknown
For each Unknown transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| N/A | Transactions with descriptions that are indecipherable, illegible, empty, or only numbers. |
Withdrawal & ATM
For each Withdrawal & ATM transaction, we may also provide you with one of the following subcategories:
| Subcategory | Description |
|---|---|
| N/A | Money withdrawal in ATM machines. |
Updated 2 months ago