I just opened a Monzo account the other day and got my Coral friend in the post today
I see in the app there’s a button to Add Salary, but I’m wondering how that works in practice. I’m currently a student with a job lined up so looking forward to using it. Is it automatic or do you designate payments from x as salary? I can’t see the screen right now because switching is in progress.
I’m especially excited to set up IFTTT to automatically allocate salary to different pots… automatic budgeting
Just to clarify it for you, the ‘Add Salary’ button just takes you to a screen which shows you how to switch to Monzo using the CASS, and also presents your bank details for you to give to your employer. There is nothing else to it .
Monzo identifies payments that are BACS Credit and marks them as a salary as @glasgow mentioned. If you worked two jobs and received two BACS payments then I am led to believe you would get two notifications.
P.S. The button will stay there even after you’ve added your salary and used the CASS. I’m full Monzo and have my salary paid in, but the button still shows
There’s definitely some transaction matching going on as well rather than just picking up BACS DC payments, I get paid via Faster Payments but I still get the payday notification.
I have marked the salary transaction as the one to use for starting my summary period before, so I’d assumed it was just matching the same payer details
I’ve been getting my salary paid in since December 2017, but still have the ‘Add Salary’ option in Summary and don’t receive the payday notification. It is paid via FPS however…
Not sure why mine doesn’t work but simple solution would be to say “any incoming payment from X is salary”. My salary is the only payment I get from my employer so this would solve it pretty easily