Thanks for taking the time to write. I was obviously taken back by what happened but mostly the community has been really helpful. I guess my only real take forward is it seems silly to have to not go into the app or close it when it tries to advance me the money. Maybe a I don’t want this button or exit could be added.
Afraid not on my app. Only a next which I presumed was going to explain what the feature was rather than execute it.
I think it was a case of bad timing, I’d never seen it before so did not assume candy and cauldron meant depositing money. Thought it ese a gimmicky display to move onto the explanation.
Thanks for taking the time to write.
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What a great use of your time.
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It appeared the app was explaining a new feature to me, but ended up advancing me money which I did not request. Simple but avoidable mistake which I feel needed flagging.
The confusion for me was it appeared to be explaining what this feature was - not executing it. Then, due to Halloween, it had a candy drag which I thought was a gimmick to learn or move on but it then said, you’ve been paid early. Apparently it’s usually a note and a wallet which I would have avoided from the inference of meaning.
I totally get where you’re coming from, but I think the piece you’re missing here is that banking in the UK is heavily regulated. Monzo would have been in communication with the regulators when designing the feature and flow in the app to make sure it’s not classed as a loan.
The second post here gave you the info to reach out with a complaint, that’s probably your best path, but I’m not sure you’ll get the outcome that you’re expecting here.
Probably best to chalk this up as a lesson learned, not use the feature again and enjoy the rest of your weekend.
Oh and just to answer this- I absolutely do not need my money early, but being able to handle my payday finances in the evening vs first thing in the morning when I’m probably rushing for the nursery drop and work has so much benefit for me. I like the feature for that.
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You can absolutely go back from this screen. If there’s no button then perhaps you’re using Android gesture navigation and a swipe backwards would have exited the screen.
Edit: I don’t have any payments incoming to check this but I’m sure there’s a back arrow regardless.
OS. No option.
Sounds helpful, wish it was explained better like it has been here. Enjoy your weekend.
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It did advance me money by putting a sweet in a cauldron. My opinion only, but that’s poor on Monzo’s behalf.
By principle I personally am not a fan but perhaps after reading some comments I can see why for some people it is helpful to add time for organisation.
I think that’s very fair feedback to give Monzo. Others here may not agree because most people here are very used to the feature, but people offering different perspectives helps achieve better design.
Drop in that complaint.
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The point being made is if you are paid on the 25th each month and you get paid early, on the 24th, the one time you do it you are paid early. After that you are effectively paid on the 24th. You’re only getting one day extra once, after that it’s the same each month.
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Just to be clear - it’s absolutely not a loan.
After 4pm the sender cannot recall the payment so we know we certainty that the money will get paid into your account.
We just credit it slightly earlier than it otherwise would be. There’s no loan involved - it’s your money that you’re getting.
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The main reason, IIRC, was to give people the choice. As this thread illustrates not everybody wants it, or agrees with it.
It’s been around a long time, in fact I’m pretty sure Tom Blom announced it at the first ever All Hands I attended!
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Revolut does theirs automatically which is fine for me but I guess if people like the budgeting etc to be spot on it may not work as well.
You’d have to adjust your analytics every month as I don’t think either platform can reset on receipt of salary payment, and even then you’d have to teach it.
Revolut is part there, with paid early alongside auto salary sorter, but no options to reset analytics for that month on receipt (yet).
I don’t think this blog post has been mentioned yet:
When people get paid, they start doing stuff with their money. And when they start doing stuff with their money, it increases sever load. Giving people the choice (and I think also staggering the notifications in the hours after 4pm) means not having to scale up CPU capacity quite so much as they’d have to do otherwise - so I guess means it costs less and increases stability?
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