I somehow missed the salary sorter option when I got paid last month, but as 75% of mine and my wife’s income go into the joint the next day, would be great to be able to auto sort the total income into all of the pots.
Dues this currently only apply to salary based income or does it also work on a joint when income is received from personal accounts?
Anything over £100 should trigger it.
(Iirc)
Works on Joint accounts as @anon99402360 advises only on over £100
It is still a manual process as you have to confirm each time if you still want the same amounts to go to the same pots, Monzo are possibly going to setup as automatic in future but no time frame.
So what’s the actual difference between this and having scheduled payments into pots anyway?
Or is it just the fact that scheduled payments happen on a date rather than when your salary hits your account?
I’m a huge fan on moving away from relying on dates to manage things!
Basically yes, you can trigger the sorter when you get your pay whereas with scheduled payments into pots things like weekends or bank holidays can mean they money is sitting in your main balance for days
If your pay isn’t on a set date every month then it’s the same thing as you’d need to schedule into pots at the last possible date you’d be paid
It’s a lot tidier I find
Does salary sorter work when you manually move money into an account?
I got paid into my personal account earlier this month and rather than wait for the scheduled payment to go into my joint, I manually moved it, however I didn’t see the salary sorter option.
Be great if there was an option to “Pay scheduled payment now”!
Using dates as triggers isn’t really an efficient way of automatically managing things.