So long story short I’ve switched my “bills bank” from Halifax to Starling (Starling’s customer service was dreadful so switched to full Monzo as soon as I could)
So now I’m full monzo and my bills are all coming out of a pot.
I have two questions but the main was is: if you setup a Payee then you put In Their actual name as displayed on their card. But you can also setup a name that you know them. So for example my landlord is set as landlord rather than his actual name on a standing order.
Could you do this with direct debits? For example you may not know what a direct debit is say maybe from BBS LTD. Can I edit or add a description to rename it to Big Bobs Shop Ltd?
Couple reasons for this is. I have a direct debit I don’t always remember who it is for.
Plus I have two DD from EE and they just say EE and that’s it. I would like to rename them EE - Mobile and EE - Broadband. So I know which are which.
My second question
If I choose to pay a DD out of a pot but for some reason I don’t have enough money in that pot. Does the DD get rejected or do Monzo take the money from your main account?
I always had an overdraft in my bills accounts for any extra / unexpected payments etc. obviously with Monzo pots I can’t have an overdraft for a pot.
Thanks for your help guys.