Introducing Monzo Flex – a better way to pay later 🚀

Do the inbound payments have to be BACS Direct Credit payments? Is there any weighting given to the type of inbound payment? (and if so you need to kick the Monzo Business team!)

Depends on the verification method… In general they don’t need to be BACS.

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I don’t mean to be tedious - but, go on :slight_smile:. I guess (hope!) that a incoming payments from a Monzo Business account would pass this bar?

Got accepted for it and about to make my first purchase.

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Let us know how it goes. I’ve got it too but not bought anything yet.

I’ll probably put it to use for the Pixel 6, not sure if I’m going for the Pro just yet though.

:eyes:

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I’ve just bought myself something just to try out Flex.

Really great experience - far smoother than doing the same in Tymit.

The only thing I’d like is in the instalment adjustment screen an option to pay it all now.

But really fantastic work - can’t wait for the virtual card to follow

Also good to be released ahead of the new iPhone……

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Quick question.

Now virtual cards on pots are a thing. Can you flex those transactions from a pot? And if so, how does that work? And do the payments come from that pot?

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…And the data even flows nicely into Google Sheets.

They have their own category called Flex (rather than a Pot transfer)

And there are individual line items for the initial refund and the first instalment - looks nice.

The one thing that’s not super clear is how categories are inherited. The transaction I made had a General category, and I assumed Flex inherited that - though may need to test that. Downside if you later change the original transaction, the Flex transaction doesn’t follow.

The one thing that would be helpful is if the Flex transaction notes had a reference to the original transaction, so in my Dashboard I could track each one?

And I wonder how the behaviour will work when using a virtual card - I feel as though the ambiguous thing now would be tracking my Flex balance through the data export.

As it stands right now - I can’t see an easy way to determine from the transaction data what I owe to Flex, which is possibly the one downside

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Soon! :eyes:

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I don’t have it yet to test, but if the transaction ID is the same for all the rows, then you could filter from there to get unique values that belong to Flex?

Then filter backwards as it were and sum?

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Presumably you’d just need to use a SUMIF with H being the summed column and D filtered to match ‘Flex’?

Thought I’d registered my interest early, but clearly I must have missed the first 1000 as still no Flex for me :cry:. Clearly goes to show how much interest there is in it!

Shall cross my fingers for next week(?) instead.

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I mean I registered interest before it even went public, guess being one of the first mondo customers/investor/beta tester/premium isn’t seen as a top worthy flex customer.

#flexgate

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Sadly they aren’t the same.

That will work, as far as I can tell, to give you the total amount you’ve flexed via the current method (i.e. post transaction flex, yes).

I guess diving into that a bit deeper, what I mean is - you can’t use the data in the Dashboard to do any useful predictions or see how far through your flex payments you are (e.g. how many installments of a specific flex’d purchase).

And the other side is - if (when) the virtual card flex is possible - it depends how the original transaction appears in feed - but I have a feeling that might be a bit wonky in the data feed.

Lastly, Interest I don’t think will be truly visible.

If that makes sense.

User # or GTFO :laughing:

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I see there’s a “Curve Flex” too. That’s confusing. Is there a trademark dispute incoming?

Not sure but curves isnt interest free for 3 months.

Okay maybe not one of the first but pretty low…

#2509, I’ll slowly GTFO :joy:

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