Get Paid Early (Discussion)

What does your feed look like after being paid early? Does the incoming payment still look greyed out? Or is it fully coloured and listed under “tomorrow” or is it fully coloured and listed under “today”?

You can go into the feed item and change the category I think! (I have no idea why mine is general - although it doesn’t really matter as shouldn’t affect categories in summary).

Monzo doesn’t automatically recognise the incoming payment… unless it’s changed since I last looked at it. And I can’t manually do it either.

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Custom > Pick date of recent incoming payment ?

Nope, doesn’t work.

Perhaps as I work for a bank and I have a mortgage payment to that bank as well (also classed as Bills)? It may let me change it tomorrow, once I have been paid, so will try then.

Yeah I think once you’ve changed it once, it has a knock on affect afterwards (I think!?)

Hopefully can change it tomorrow :ok_hand:t2:

Ahhh ok, my weekly pay is under £200… that’ll be why!

Got my notification at 4pm.

Cool little dragging of some money into a wallet animation and hey presto, my pay was in my account a day early as promised.

As I said before, a cool little feature.

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This looks like it will be a killer feature in the UK (until Barclays/others copy it in 3 months).

In the US there are already banks doing this (Chime at least?), so not that amazing for them.

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Barclays add money due on Monday at midnight on Saturday

Great option to have by Monzo to be able to chose to have it early or not

My salary goes in today and it was showing in the app yesterday (grayed out) unfortunately I didn’t seem to have access to this feature. Maybe next month :crossed_fingers:t3:

Great idea and I think it will be very popular.

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Many high street banks used to do this by default - some still do.

The others stopped as a) customers found it confusing, b) other banks process both BACS credits and debits early - which meant that in some cases, customers would not be able to withdraw funds over a weekend as a result of a payment due to go out on a Monday… - leading to complaints.

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Even after getting paid, it still shows as Bills and when I try to re-categorise it, I only get offered the option to pick other “expense” categories and not Salary as an income category.

Sigh.

I think this feature is great - other banks do this in some situations, like weekends as you said but why are you praising Monzo for the ability to choose whether they had it early or not? I can’t think of any reason why someone would want to have it delayed by choice.

Can you not self select what your salary is? I think the budgeting can still be used even without salary payment. Which bits do you feel you cant use fully?

Are you paid by BACS or Faster Payments? From what I’m interpreting from the thread, it’ll only work with BACS. I’m paid via FP so I don’t expect the notification to pop-up. But this is no problem, FP means I get paid as soon as my employer hits the send button :pound::grinning:

The fact he could see the amount before it reached his account (the amount being greyed out) shows he is paid via BACS

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Only if it’s over £200 does it count as a salary payment.

Fair. What does that stop you being able to do? Asking just out of interest. I dont really use the budgeting myself but like to understand how other use it. Cheers

I don’t actually think it stops anything these days other than not getting the payday notification