I’m sure there’s another thread where I’ve discussed Monzo’s approach to this, and complained about it in the past, because it messes me up at times. But this is the only one I can find, so I’ll post this here.
That’s just happened again. Monzo live in GMT year round. So midnight doesn’t occur for Monzo during BST until it’s 1am for us humans, as I’ve been rudely reminded of thanks to being charged overdraft interest.
One of my incomes went in today. At 00:17 this morning just before winding down for bed, I decided to pre-empt sorting my income and moved money to where it needed to be. It would drop into my account today anyway (which it did). This sorting naturally took me into my overdraft, which my income took me out of when it went in, which is in line with the overdraft terms to avoid being charged interest (my account is in credit and it’s not midnight yet). I thought I was being savvy.
The issue here is Monzo have now charged me for being overdrawn for 1 day. And sure enough, on my statements, the transfers to Chase and my pots show as 10/04/2022, despite showing as Today, 11 April in my feed. It’s 12p, but has left me quite grumpy out of principle.
Fix your clock Monzo, it’s placed you in violation of your own overdraft agreement!