DD & SO Direct from pot

[RobertGauld]

Now that pots are payment accounts (as was required to get virtual cards from pots working) can we get standing orders and direct debits to come straight from the pot?

Current behaviour:
Having assigned a SO or DD to a pot when payment nis taken the money is transferred to my main account and then the payment is made from the main account.

Requested behaviour:
Having assigned a SO or DD to a pot the payment should be taken directly from the pot.

This will keep the main feed tidier and keep DD, SO and virtual card payments appearing in a consistent (and therefore predictable) place.

[davidwalton (Award Winning Hot Coral Analyst)]

@RobertGauld

Now that pots are payment accounts (as was required to get virtual cards from pots working)

I don’t think that is the case unfortunately. Pots can now be the funding source for linked actual accounts and linked Virtual Cards (which are treated as actual accounts), but they can’t themselves be actual accounts. So direct payments likely aren’t possible.

[Dan5 (Dan)]

As far as I’m aware, they aren’t treated as separate payment accounts but sub accounts of the main payment account.

But, I know we’d love direct debts to mimic the behaviour of virtual cards

[Chapuys (Kevyn)]

If the pots are just part of the main account, some engineering/developer magic has took place to show virtual cards from pots and not from the main balance (as in theory virtual cards are just another card for a sole Monzo account).

Just sprinkle this magic on direct debits so they look like they are coming out of the pots. Legally it’s all one account so there wouldn’t be issues there.

[Gaoler]

Or just do what should have been done to start with - offer lots of full accounts instead of pots. Chase has done it…

[Dan5 (Dan)]

@Chapuys

If the pots are just part of the main account, some engineering/developer magic has took place to show virtual cards from pots and not from the main balance (as in theory virtual cards are just another card for a sole Monzo account).

There’s a very specific definition (at least in terms of the FCA) of what denotes a payment account and what doesn’t - so I guess there may be a difference in general interpretation of what it means what the technical term means.

It will make life a lot easier if/when you pay direct debits straight from pots.

[Dan5 (Dan)]

@Gaoler

Or just do what should have been done to start with - offer lots of full accounts instead of pots. Chase has done it…

I’ll never say never, but there are absolutely no plans to do this - regardless of what chase are or aren’t doing.

[Rat_au_van (Em)]

@Dan5

It will make life a lot easier if/when you pay direct debits straight from pots.

When’s that being released?

[Dan5 (Dan)]

I don’t even know if it’s been worked on!

[Rat_au_van (Em)]

I think they said it was going to be a thing

[Dan5 (Dan)]

Did they? Or are you trying to trick me again?

[Rat_au_van (Em)]

No I’m sure it was said. Can’t remember if it was a future aspiration or something on the short term todo list.

By who and when I’m not sure so I can’t supply a link, but it was in the last couple of months.

If I wanted to trick you it would be a lot more obvious

[Ordog]

@Rat_au_van

If I wanted to trick you it would be a lot more obvious

It’s a double bluff don’t believe her @Dan5

[Rat_au_van (Em)]

I normally just ask and he lets it slip

No top level mind games needed

Or was that part of the subterfuge as well?

[Rat_au_van (Em)]

To prove you wrong. 2nd answer on this reply

Monzonaut AMA - Theo - Borrowing Data Scientist

This will be a little bit of a longer one. In short, right now, it isn’t. This was a decision made right at the start of overdrafts (back in 2018) and it has come up a few times since (eg. when we discussed the question below, which i’ll get on to) and i think it comes back to how you see pots. Just how “separate” are pots? This will probably be answered differently by different people but I’ll try give a few examples that favour the current implementation and informed the decision back in 2018…

[Gaoler]

@Dan5

there are absolutely no plans to do this

I believe you! A missed opportunity. Everything people are clamouring for from pots could have been done with multiple accounts. It does feel like reinventing the wheel for no true benefit.

[Addzy]

No, just no

I along with plenty of other people like the current setup, I don’t wish my pots to be separate accounts at all, if the most somebody has to moan about is 2 transactions in your feed for a direct debit paid from a pot then it’s really not that bad, whilst yes they could probably consolidate that into on feed item, I like the fact you can see what happens because if you don’t leave enough in your bills pot to cover it, it’s obvious in the feed why your main balance is down, and good luck trying to fall back to your main balance if a dd is unexpectedly more if you use different accounts rather than pots

[gallifreyangirl]

I like the current direct debit from pots myself I wish subscriptions worked from pots like that too.

[Gaoler]

@Addzy

good luck trying to fall back to your main balance if a dd is unexpectedly more if you use different accounts rather than pots

Starling gives you a notification for a failed DD and retry at no fee. There are alternatives. I prefer the opposite - knowing funds are disconnected from each other. DDs can also be wrong, so an unexpected increase, you might want to reject anyway…

[Addzy]

@Gaoler

Starling gives you a notification for a failed DD and retry at no fee.

So does Monzo, the point is in its current form it’s frictionless. I know there are alternatives but I think for many it’s a near enough perfect setup, would I love to see the transaction feed items changed? Yh definitely, along with x days from now too, but other than that the current system works beautifully.

I understand why people might like separate accounts, that’s why I think it’s great Chase is doing it that way, it’s good to have the choice but I wouldn’t want Monzo to change what makes it unique