I like both these ideas, geofence and preset accounts. For some businesses I always switch to the same account like pin the veterinarian invoice on my dogโs account or the snacks at the train station on my Travel account. Unless I (often) forget and have to correct the transaction later, cluttering up the list.
But for some other locations I rather get suggestions. For example, sometimes I pay in shops with the Groceries account and other times from Gear when they have bicycle stuff. Shops and even supermarkets today often donโt fit a specific category anymore. You can buy garden stuff at Lidl, candy in the book shop, etc.
Personally I would be very happy if we could just define multiple geofences in the accountโs settings. When you are within range youโll get a notification to switch the card(s) with one or multiple overlapping suggestions.