Introducing Monzo Flex – a better way to pay later 🚀

:person_facepalming: got me again

6 Likes

Is the amend payment date still on the cards?

It’s still on the cards. Lots of people want it (myself included!), but we’ve still got work to do so it’s not what’s coming next.

10 Likes

…Just rickroll me

2 Likes

Ok thanks for the update and pleased it’s still being thought about

1 Like

Well for a lucky few, maybe this afternoon! :drum: :drum:

6 Likes

New Feature Launch :eyes:

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 :tada:

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 :apple: or 4.40.1 :android: to see it.

As always, we’d love to hear your questions, thoughts and feedback :pray:

32 Likes

This is a great addition, for me anyway :sunglasses:

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.

16 Likes

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.

2 Likes

Brilliant.

Assume this will then reduce the Flex payment in any bills pots?

2 Likes

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.

7 Likes

When I press the “Pay £100 now” button, does the next screen have it editable so could pay more if I wanted to in that one flow?

1 Like

This is a great new addition :partying_face:

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”?

Love this, I usually put the amount my flex bill we be into a payment pot on pay day but this just makes it easier and removes wait and less faff

1 Like

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.

6 Likes

Got the pay early feature, logged in and that’s the 1st prompt about it.

9 Likes

No, is the answer to that. I attempted to amend my payment, you get an error message pop up

1 Like

how do i know if i have this feature…

my app version is 4.52.0 on Android…cant seem to find a way to activate it or use it

many thanks

1 Like

Give it a week or so and hopefully you’ll get it.

You’ll get a notification when you open the app, see a couple of posts up with the screenshots. It’s a gradual rollout

Just used this feature - being able to make payments when I want makes me feel more I’m control of my money, which is great.

My feedback would be:

  • I’ve set Flex to be paid from a pot and I assumed that the early payment would be taken from there, but it was taken from my main account.

  • It would be good to be able to see the available balance for wherever the payment is coming from in the payments screen.