Incoming Bacs

Hi all. I’ve been with Monzo since 2018 and apart from the odd glitches that we’ve all experienced I’m very happy.:grin:

That said I’ve been wondering off and on for ages (I do go out occasionally lol :man_shrugging:) how the incoming payments are processed. Not down to a cellular level but more as to whether the whole process is automated with Monzo’s systems allocating credits to individual accounts based on the customer details on the bacs credit or whether Monzo staff allocate them internally.
As previously said I’ve no problems at all just idle (ish) curiosity.

Any comments to satisfy this idle curiosity would be welcomed. :wave:

Thank you.


Fully automated :slight_smile:

No Monzo member of the team is sat there keying in each transaction :smiley:

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Thank you. My idle curiosity is settled! :clap:


This is automated through the Bacs system.

Bacs processing cycle

Input - day 1
Input day is the latest day a business user/bureau may submit a payment file to Bacs for a processing cycle. Payment files must be transmitted to Bacs between 07.00 and 22.30.

IE your employer setting up your salary to be paid into your bank account.

Processing - day 2
Files are delivered to the recipient PSPs which then process each payment.

Entry - day 3
Payments are simultaneously credited to the recipients’ accounts and debited from your account.

You remain in control of the process at all times. You can submit your payment instructions up to 30 days in advance of the payment date. You can also recall payments after the payment information has been submitted, provided your PSP is notified prior to a specific cut off time.

There’s a whole load more online, but this is why monzo and some other entities can “advance” payments in form of Paid Early because they see the payment inbound on day 2 in the Bacs system.


Understood thank you. :relaxed:

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I imagine it would take a colossal amount of people to keep up with them all if it was done manually.

Automated would keep errors down to a minimum too.


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