We’ve heard from a lot of customers that you’d like the flexibility to be able to pay your instalments before your monthly payment date. In fact, it’s been the most requested feature for a while now.
So we’ve listened and built just that… you’ll soon be able to pay early
You’ll have the option to ‘Pay now’ for both individual instalments and on the whole monthly payment. I’ve included some of the screens below so you can see how it works.
We’re gradually starting the roll out this afternoon, and I expect most people will have it in a few weeks. You’ll see a notification in your Flex feed when its activated for you.
You’ll need to have at least version 4.47.0 or 4.40.1 to see it.
As always, we’d love to hear your questions, thoughts and feedback
I don’t tend to spread payments over the entire 3 month. So being able to tap buttons rather than do math and manually type in the amount will make my life easier.
It did put me off doing by hand allocations of overpayments at the back of the installment when my salary came in early and I simply wanted to pay the next month off early. This UX is great for exactly that.
Yep. By paying early you effectively bring forward the payment date for that plan, for that month. If you have any other plans that you haven’t paid early we’ll still take those on your payment date like normal.
And if you pay your full monthly payment early you won’t have anything to pay on your next payment date - unless you flex more things.
Has this also been extended to the installment selector, for those times I’ve used flex as a VC by mistake (for a meal deal at the co-op), to just “pay in full now”?
I’m not sure if I’m missing something but there doesn’t seem to be a way to categories a transaction on the Flex card before you split it? It means I have to find the first installment and set the category and then find the outstanding Flex and set the category so subsequent payments are correct.
This is especially annoying when the translation is split across multiple categories, when I find the first payment I have to do some mental maths to split it correctly.
since they released payments from pots i wonder if they would consider a payment by direct debit, Monzo isn’t my main account but i use flex fairly frequently for the moment i always remember to move money but i feel i may forget and it would be handy to have a pay by direct debit feature just to cover it
I’m afraid not yet - The interest you pay will be approximately £2,500 * APR / 2 though if you pay over 12 months and £2,500 * APR / 4 if you pay over 6 months. Where the APR is whatever your annual percentage rate is (eg. 19% would be £2,500 * 0.19 / 2 = ~£237.5).
This will be a bit less if you’re paying the first payment upfront and will be less if you make extra payments throughout the term.
or 4.40.1 
to see it.
