Early Payment of standing orders

When a standing order is due to go out in the next few days, it would be neat if you could tap that greyed upcoming payment and ask for it to “pay now” and the money would go earlier.

Gets my vote as sometimes I get paid early, such as when payday is due to fall on a weekend or bank holiday.

My SOs are all scripted to go out on payday, so some months they are lingering for a day or three.

It’s more an OCD thing with my screen balance than anything else though really.

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Just had a glance at my regular payments, and I would have to be careful I didn’t get carried away with this feature, if introduced.

Two of my SO are for regular savers, 1st of the month.

Of course, if I sent these early, they would be rejected by the receiving bank and building society for exceeding that month’s maximum deposit.

I’m all for personal responsibility though :joy:

“Pay these direct debits now” would be great! No idea how that would actually work though :smiley:

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That wouldn’t. Direct debits are a “pull” (initiated by the payee) rather than a “push” payment method.

Monzo therefore can’t send them early.

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For Direct Debits as that uses the BACS system, that’s not easily done - I guess a solution would be to pre-lockout the amount from your balance and make such amounts unspendable except via that DD.

I specifically mentioned standing orders as these are essentially just scheduled FPS payments as far as I know.

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Indeed they are, they don’t use BACS at all.

Nice idea to ring-fence Direct Debit money early, I suppose a software implementation could make it almost like they had been “paid early” when they actually hadn’t?

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I was only half serious as it would be a way to get rid of the half a dozen that often take up my screen the weekend of payday.

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A quick fix for this might be to make the future part of the feed collapsible?

The way I would imagine it is that you could collapse it when with a little arrow next to the heading “Two days from now” to hide those payments. This would “save state” when you opened and closed the app. Then when the payments actually left your account they would appear in the feed like normal.

Next month, or when you next had a future payment, you could choose to collapse again (like acknowledging that you had seen it) and the state would be saved again. But the default would always be to show it in full, if you did nothing?

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I used to love this idea, but then bills pots happened and I see no need for it anymore.

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I think it’s still worth doing - some see pots as a savings account, and keeping it at normally 0 does seem a bit of a waste.

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