Is Direct from Monzo SEPA SCT / SCTInst and SDD on the roadmap?

#1

So I like alot of people look at the big list …Big List
and notice now with the international outbound payments is selected with the tick…

This is only through TranserWise only to cover the SCT aspect, I was wondering if the feature would be available direct from Monzo without the use of 3rd parties? and have the ability also for the SDD (SEPA direct Debits) as potentially in the future I may need to set up direct debits for utility bills and centralising this into my Monzo account would reduce the amount of additional accounts I’d need in a foreign countries or hopefully be cheaper than alternative banks that do offer said service in this country.

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#2

I would not expect SDD CORE, SDD COR1 or SDD B2B until Monzo have Euro denominated accounts. On Sterling denominated account I expect they will only offer BACS DD.

#3

This is one of the things that I think Monzo do wrong and can be misleading to customers. Claiming something is complete when it clearly isn’t complete. International transfers are one way through an intermediary (I know they split the category) and this is not universally available. That can hardly be classed as completed. They should mark as completed when it is fully released.

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#4

The alternative is that this is all they are going to do in which case it is complete. OK, no I’m not convinced either but it is a remote possibility?

#5

I hope that Monzo have been following the activities of the EACT, TWIST, the ECB, the EC, the EPC, the EACHA, the EBF, the EACB, and the ESBG as they have all been involved in developing SEPA since the EC and EP passed the PSD. What I want to know is whether Monzo will use PAIN as well as the mandatory PACS messages?

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#6

I am not sure if all the acronyms in this thread are real or made up - and I work in fintech myself. :joy:

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#7

New forum rule! Keep all jargon to a minimum and no abbreviations!

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#8

I’m sure we are all thinking the same thing :thinking:

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#9

Or have an acronym thread that you have to link too if you use them!

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#10

You could call it TAT for short.

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#11

tooltip rollover?

#12

I’d rather this thread didn’t turn into a discussion of semantics regarding acronyms and or any features for future acronym usage in the fourms please keep on topic.

#13

OK, TTYL

SMAKIBBFB

Chris

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