Hello
Someone sent £1000 to my Monzo account about 40 minutes ago and it’s still not here.
How long does it takes to clear and why it’s not instant??
Did they send it to the correct account? Is it usually instant. But can take longer.
Faster payments can take up to 2 hours, but the scheme dictates that the money must arrive by the end of the next working day -> https://www.ukfinance.org.uk/area-of-expertise/payments
If you’re sending the money to a new payee, then the source bank may well be running some checks before sending the money.
If the sending bank is HSBC, then this is common as HSBC run a few additional checks -> https://monzo.com/help/payments-troubleshooting/hsbc-bank-transfer
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Sorry to state the obvious but have they checked all details were keyed correctly?
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Waiting for their confirmation of transfer with details on it so I can wait longer with peace of mind.
It’s only instant if it is Monzo to Monzo.
I transferred from Nat West to my Monzo and that took seconds!
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Yeah when I transfer from Lloyds I usually get the Monzo notification before Lloyds confirm it’s done.
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