I’m seeing a difference in the way DDs work in Monzo to my previous Coop account. I’ve just had a DD (first payment) fail at 2am in the morning. I’ll now incur a £30 charge from the originator.
With my previous account I’d have had until end of business day to have enough funds to clear the DD.
I can imagine this being a real issue if I have DDs set for pay day - and all the DDs fail at (say 2am) and then pay funds come in at (say 3am)
DD pots are one answer, but don’t cover all the use cases (including the one above)
Is it possible for Monzo to hold DD authorisation (where funds aren’t available) until later in the day, with a notification:
“We’ve been asked for Direct Debit paymemts totalling £xx.xx. We can’t hold off declining these payments until 3pm. Please top up your account if you wish to cover these payments”