Monzo now lets you get paid a day early, for free

Did for me and our business account. Worked without issue just now.

However the wording of the associated screen was assuming it was a personal account, so if this is to be a permanent feature of the business account then that will need to be fixed.

I think there are loads of people getting paid early by Monzo due to bank holiday - mine worked fine

Excellent little benefit and I hope it gives monzo that last big push to 3,000,000

3 Likes

Fair enough. Maybe it’s not rolled out to all businesses, or there’s a limit on the amount or I’m just doing something wrong. Did you get a notification?

Yep, got a notification. It worked just as people describe the personal accounts working.

I see N26 are doing two days early in the US!

Is the elephant in the room that fact that you get your money “up to 9 hours earlier”. If you got the money at 23:59:59.99999999999999999 the day before it’s still a day I suppose (to the marketeers)…but just saying.

thanks for that info mate

1 Like

I just figured it was written this way as it depends on the time when the user requests to be be paid early. I imagine not everyone will do it at 4pm on the nose.

That’s also incorrect… As people can get their money on Friday rather than Tuesday (if a bank holiday).

I’m not a fan, I see extremely little value in it… But for those it works for, that’s potentially a significant time frame.

Just think this through. Usually employers would already account for bank holidays.

So, payday is Bank holiday Monday. Employer would pay aim to pay you the working day before i.e. Friday at 01:00 (right?) . You get your money from Thursday (16:00). My elephant is still in the room.

Anyone’s employer not work this way?

It’s not just salary but all BACS payments :see_no_evil:

Cool. Can BACS be scheduled on a Bank Holiday?

Every employer I’ve ever had hasn’t done this.

They don’t change their payment runs for weekends or bank holidays (from what I’ve found).

Sounds like you have a thoughtful employer though! :joy:

Wow. I’ve had 17 jobs. Never had my money on a Bank Holiday! I didn’t think it was possible (by BACS). I’ve never been paid Sat/Sun either.

Who do you work for out of interest. Is is FasterPayments?

1 Like

I think it’s actually when your payday is the tuesday after bank holiday. Then you can collect friday afternoon. The elephant has left, goodbye elephant.

3 Likes

Before it packs its trunk: So payday is Tuesday. Previous Monday and Friday are BH’s. When exactly can I get my money?

To be fair, I currently get paid the last working day of the month, and my wife gets paid the last Friday of the month… So this wouldn’t affect me at all :joy:

FRIDAY AFTERNOON! :partying_face:

Wait, friday is a bank holiday too? Thursday then :joy:

Even if Friday’s a bank holiday? So that’s FOUR days early. Wow. A new headline.

Yeah sorry missed the Friday also being a bank holiday, Thursday is the new answer I believe.

2 Likes