I had a support case open with Monzo this morning as I was due to go Full Monzo today and expected it to be done by the time I woke up and it wasn’t, anyway its done now.
Whilst on Live Chat I was discussing with the Agent (Stuart) about Direct Debits. We were discussing how it would be good if there was an “exclude from summary” (indefinitely) button/setting from within the Scheduled Payments section of the Payments Tab - that way you do not have to wait for the DD to come out for the first time before you can exclude it from the summary.
Why does this matter?
As a Monzo User I used to use Legacy for DDs/SOs etc. and Monzo for Spends. Now I am Full Monzo the 2 are not split, and I had intended to use Summary to tell me what I had left once Direct Debits are accounted for - so I don’t want them to eat into my summary.
This all got me thinking, we have locked pots… but what if we had Locked Budgets?!? You have X amount a month and you’re not allowed to exceed it, edit it etc until the start of the next cycle - basically on pay day you set the budget for the month and thats it. This paired with not allowing you to spend beyond your budget could prevent returned direct debits etc…
Whats peoples thoughts?