Hi guys, I’ve been with Monzo around 5 months now and did an account switch which has transferred all my payments over. However, my salary isn’t coming through a day early even though I am paid by bacs which I’ve checked with my company. I’m not even shown a greyed area with the money coming in my account… any ideas?
Thank you!
Just a theory as ive seen this happen with me. Might be worth checking your company arent continuing to make bacs payments to your old account, although the payments would be automatically transferred to your new monzo account thanks to the switch service this would only happen on the day you are paid. As the bacs payment is being made to your old account monzo has no idea your due to receive a payment hence it not showing up early. Just a theory as I know many companies are either slow to update bank details or ignore them when the cass service notifies them.
I did update my bank details with my company when the account was first opened and they have confirmed that they are sending my salary to my monzo account.
Yes, I have that option.
Then it’s faster payment and not BACS
Unfortunately BACS tends to be used as a catch all term for any bank transfer by some employers
