Bacs Direct Credit - when might it be added as a feature?

Is there any plan to add the ability to make scheduled Bacs Direct Credit payments?

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That’s not possible. As the sender can request the money back or cancel the credit. If Monzo gives access to the funds earlier than intended it will be a problem. Wish it was an option though…

I’m not sure that’s true. And eventually they will need to offer this in order for companies to do their payroll properly.

No skin in this game, but, out of curiosity, why would you want them when faster payments are available?

Because they are guaranteed to happen before direct debits, indeed it’s the entire point. You want money to go in before money is taken out. At the moment there’s no way to schedule a payment and guarantee this.

I think BACS is also cheaper than Faster Payments, although this wouldn’t affect users of current Monzo business accounts.

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I think that Monzo is failing to identify my income because it’s looking for a Direct Credit transaction but only finding transfers. If so then that’s going to be the same problem for other business account users, too. This feature would also be very useful because BDC goes out before BDD and Standing Orders, which is pretty critical if you want them to happen on the same day (say, the first of the month).

I don’t get paid by BACS from where I work, only via FPS. Monzo have no problem identifying the income for my account. :man_shrugging:

I use a standing order from a Monzo business account. This does not work.

Should do - as it’s just an FPS payment - are you sure they’re not able to confirm your income? Are you sending it regularly on the same day etc?

Precisely the same day, as a standing order, for a long time. Perhaps it’s the fact that it’s a standing order that is the issue. However, making users manually transfer money every month is definitely not the solution to this!

But a standing order works as FPS I believe? :thinking:


I actually don’t know :man_shrugging:

But an internal transer at any bank is very unlikely to use BACS. BACS are for inter-bank transfers.

I’d be surprised if every bank special-cased their own accounts and duplicated the payments cycle (which is quite time-sensitive; credits before debits) of the BACS system. Think of a company with thousands of employees - some subset is guaranteed to bank with the same bank as their employer.

If you are delivering a file direct to BACS then yes they will all be the same file type. What you were asking about is making a BACS payment direct from Monzo to Monzo.

I would suggest you move the money to a different bank then Faster Payment it to your personal account if you want it to appear as a different type of transaction.

That doesn’t seem like the best solution.

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Hey @duncang :wave:

Have you raised this through in app chat at all?

Yup. Being bounced around. I think on person 6 at this point. Hah.

Change the date to the second for direct debits? Doesn’t that solve your problem?