I’ve done some digging into the help section in the app, the UK blog, and the current version of the T&Cs, and there is ZERO mention of the possibility of Monzo clawing the money back if you choose to get paid early using this feature, but then the money is not available to you.
So with that in mind, I would say that Monzo takes on the risk 100%, and this is not a loan.
By 4pm on the day before your money is due to arrive, the receiving bank you get paid into is confident the money will arrive because they can see it coming in the system. So all banks could technically advance you the money at this point. Most banks choose not to, but we thought it was fair to give you the choice to get your money sooner.
No dramas - it was the only reason I asked the question
Fundamentally it is a mis-understanding of what that feature is. I do also agree that potentially, Monzo could add in as @BenC suggests a back button, but I’d also agree with @Revels that just because this has happened it shouldn’t now be done (See: Homer Car)
I think, personally, the feature is pretty self-explanatory, and this thread has come to a natural conclusion @Dan5 - They’ve raised the challenge, given advice from @_Tom how to raise with Monzo.
Otherwise it’ll just descend into a whole load of what-about-aries and opinions about whether it’s a loan or not.
I agree with your points, but let’s be cautious about ending discussions too early, as that hasn’t gone well previously.
No one should unilaterally decide when a conversation is over unless it has completely derailed. We’re all adults here, and if there’s still meaningful dialogue happening, it should be allowed to continue—that’s the purpose of this community, after all.
I don’t disagree but in this instance what meaningful dialogue can we get from this? It’s a user not understanding the feature, it was clarified, as was how to report it to monzo if they are not happy
It really doesn’t then need a number of people piling in on how easy Pay Early is, whether it’s a loan or not, and other things. Again, in my opinion
I don’t mean it as a shut down voices approach, I agree that has happened in the past and it’s not helped.
I respect and agree with your opinion, so please don’t take this personally. I’m just responding to your question
All of these points are relevant to the OPs complaint.
They cover what defines a loan, whether there’s a clear way to exit the process, and if any changes are needed. This discussion benefits everyone involved - future readers, people like me who learn a bit more about laws etc, Monzo themselves, and even the OP in deciding whether to pursue this further.
Allowing everyone to contribute until the conversation naturally winds down is essential for a healthy community. Limiting comments, even if some points seem repetitive, isn’t conducive to that environment.
Fair enough - and thanks for the nice post back with other points. So that my point around not de-railing the thread (which was not the intent) doesn’t actually cause it, I think we can leave it there
If it looked like this and was something I was familiar with then I would whole heartedly agree. Unfortunately this was not the case. It appeared sometime after 10pm and was a push notification on my phone. It then appeared to explain what this feature was, then only had next button. Then had a sweet and a cauldron (I understand the theme of the season) so I thought it was a little gimmicky but sure, if this gets me to the next page. It then said, you’ve been paid early. Which I did not expect or want. Hopefully that clarity justified my reason to reach out and flag this as an error.
