Is there a way so that Monzo ignores Credit Card scheduled payments in the summary until the amount is known? For example, yesterday it said my Credit Card bill was £X and I’d run out of money. Today, it knows the correct amount as it will be taken tomorrow, and I won’t run out of money.
What I believe it is doing is taking the last previously scheduled payment amount, and using it in the summary for this month which throws off the account summary
I feel your pain! Summary is currently intended to predict bills based on the previous amount which is rubbish for credit cards which can wildly vary.
I solve this by excluding my credit card bill from Summary altogether. It’s not perfect, but better than keeping it in, in my view.
To do that, go to the payments tab, then scheduled, then find your credit card direct debit and untick “repeating payment”. (If you ever want it back, you’ll need to find the transaction in the main feed and select the repeating toggle there).
Monzo is thinking about rethinking Summary, so hopefully they include this in their, err, thoughts.
This is something I hope Open Banking and connected cards will achieve. Essentially you’d be able to link a DD with a connected credit card so the predicted amount is updated in near real time.