How we're making your bills easier to manage


(Richard Cook) #1

We’ve recently built some new features to make paying bills easier! :tada:

Read all about it :eyes:


#2

@Jami Great work. Would you be able to confirm if you are working on auto-retry for Direct Debits or Monzo feel that manual is what is best?

Edit: Answered below…

Thanks for sharing this @cookywook


(Jack) #3

They auto retry at 2PM the same day but you can tell it to retry manually before then.

image


#5

Ah OK cool!


((╯°□°)╯︵ ┻━┻) #6

Very nice, keep up the good work!


(Joe) #7

What if you could set up a dedicated Pot to put your committed spending money aside, and transfer it into your balance for each payment? Watch this space…

:pray: I’ve been wanting this so I can go #FullMonzo


(Andy) #8

It was great to see a payment due tomorrow in the app, but I discovered this by accident.

Would it be possible to have a notification for upcoming scheduled payments?

I realise notifications are not for everyone, so maybe this would be customisable.


#9

Bullet point 2 title you by mistake wrote “Debit Debits” instead of “Direct Debits”


(Jack) #10

What’s next?
We’ll keep working to make it easier to manage your bills through Monzo. And we’ve got lots more ideas to come! What if you could set up a dedicated Pot to put your committed spending money aside, and transfer it into your balance for each payment? Watch this space…

:eyes:


(Peter Roberts) #11

Thank you for sharing :slightly_smiling_face:

I’m pretty excited about being able to ring fence committed spending :+1:. These kinds of things are going to be a real differentiator for Monzo and should genuinely help people with their finances :slightly_smiling_face:

Any chance the retry logic will be coming to bank transfers as well? My rent is paid this way and back in December this failed due to a Monzo / FPS bug and this caused me a bit of unnecessary stress around Christmas


#12

If a direct debit is initially declined, then retried successfully later in the day, will the merchant know about the initial decline?


(Andre Borie) #13

Nope. I don’t think the protocol even allows this. It’s either accept or decline, no decline-then-accept.


#14

Great work.

What if you could set up a dedicated Pot to put your committed spending money aside, and transfer it into your balance for each payment? Watch this space…

Love the idea behind this but slightly nervous about the implementation (what if your bills change value and you end up with not enough in the main bit of your account?)

My initial thought was an option to decline discretionary card/other payments when your (positive) balance dropped below the value of your committed spending. It would have the same effect but without any of the downsides that make me nervous…

That said, it seems that this is on its way. Looking forward to seeing the implementation and, hopefully, being pleasantly surprised! :blush:


#15

Typically only rejections are what get reported back. Where DDs are paid they don’t come back as a ‘success’ list they’re just treated as collected.

If you look on certain systems maybe an online Council Tax account or similar and pay by DD you may see a payment on the date of the DD collection. This is because as part of the process to create the DD collection file that system assumes the payment is received. It will then be reversed off if payment is rejected.


(Matt Jenkinson) #16

Being able to search for a large business instead of having their details.
When paying a bill in my current bank, I just search for the company (Northumbrian Water for example) and it already has their details.


(Andy) #17

PayPal does this. You’ll see payment successful a couple of days before it’s actually taken. Think a few mobile providers do it


(Andy) #18

Would like to see this too. It was also suggested a couple of weeks ago


#19

Oh yeah EE always thanks me for my payment days before… How nice of them :laughing:


(Customer of Lloyds Banking Group, plc) #20

We’ll keep working to make it easier to manage your bills through Monzo. And we’ve got lots more ideas to come! What if you could set up a dedicated Pot to put your committed spending money aside, and transfer it into your balance for each payment? Watch this space…

My issue with this is that it will clog up the feed as it did with with Coin Jar. You’ll have two feed entries for each bill payment. If you can solve that before you implement it then please do!


(Mark Dunne) #21

It would make it easier if you supported four weekly standing orders and salary frequencies :grin: