Yawn 
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Still gets me how people cant work this out and don’t know what a working day is.
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Fishing is a well earned skill, not quite the same as looking at a calendar.
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When people can’t do either though it’s natural selection at that point.
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I got a cheeky wee win on the lottery on Wednesday. Very wee and very cheeky - 30 quid.
It’s due to be paid into my account on Monday but obviously I can claim it from 4pm today. I’ve decided not to bother as I don’t especially need it today.
But man, it’s hard!!! It’s just there waiting for me, begging to be claimed. I’m not sure I’ll make it to Monday, I need to click that button…
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You’ve got £30 back - who gives a f 
- better than nothing whenever you can claim it!
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How do you know if someone’s won the lottery?
They’ll tell you 
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They just won’t tell you how much they’ve spent in order to make that ‘win’ 
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I’ve played every main lottery draw since its creation, including Wednesdays when they added a midweek draw.
I can say with some certainty that I’ve spent more than I’ve won.
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There are reports that 80% or more of Child Benefit claimants haven’t received their payment due today.
While HMRC are investigating, I read at least one report from someone who said they have Monzo and they got their payment early, on Friday.
I always thought that the money was with the receiving bank by the time Monzo allows you to get paid early, but this case clearly (?) shows that’s not the way it works.
So is the money held somewhere else until the final BACS day where it appears in the receiver’s account?
I wonder how that affects Monzo, having paid something that actually hasn’t turned up in their own accounts yet as expected.
Monzo won’t let you “get paid early” unless they know that you’re due the payment from HMRC. Monzo won’t be looking at your account & saying “every month you get this payment, here it is” without HMRC saying it’s coming.
The issue (as you mention it, with zero research myself) is that it looks like HMRC haven’t sent all the payments. If it didn’t show as pending or available to collect early then HMRC didn’t sen you any money.
At 4PM the day before, when Monzo let you collect the money, the sender can not cancel the payment at that point though.
I’m not sure what your question is, but HMRC seem to be at fault.
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Monzo look at payments that are working their way through the archaic banking system and essentially loan it to you, until it clears. This is because it’s past the point of being rescinded by the sender.
If no payments have been sent, it wont show in the system, and Monzo wont advance it to you.
So, if HMRC haven’t sent payment, Monzo wont give you the option of being paid early. Monzo will therefore never be affected, or out of pocket.
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It is possible to recall a payment after that point. It’s just rare and usually only happens with accidental, large payments. It’s a very manual process.
Having worked within IT for a law firm in the past, you would be surprised how often 6 figure sums are sent to the wrong person…
Whether the bank is willing to go to the effort of a recall after the scheme “deadline” largely depends on the relationship the sender has with their bank (they are unlikely to do it for a person).
This is also the case with CHAPS, the scheme rule that “all payments are final”, isn’t entirely true.
Monzo will be taking an element of risk with Pay Early but they have clearly mitigated this by placing limits on the amounts claimed etc. I’m sure the popularity of the feature makes up for the very occasional recalled payment loss in any case.
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Thanks everyone, I understand it a bit better now; basically, from what you are saying, if a BACS hasn’t arrived on time, it was never sent, so Monzo never had it to offer it ‘early’ in the first place.
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So you’ve lost nearly £3k, put it that way 
And that’s if you only ever play one line in each draw. If you’ve played multiples…
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I think ‘spent’ rather than lost.
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Technically not the case. The sender can cancel the funds being sent, in which case Monzo will be down, albeit temporarily as they will simply claw the money back from the customer to “repay” the sender.
Monzo do take some risks with paying customers early, but it’s relatively small and an even smaller chance that they will be out of pocket for long, and even smaller chance (to almost impossible) that they will, ultimately, lose the money completely.
It’s in the terms of initial setup of paid early that monzo can take that money back.
Probably put you into an unarranged overdraft until it’s repaid. I haven’t ever seen this happen though, as the likelihood of a bacs being recalled last minute opposed to other methods of overpayments being recovered sender side.
It’s definitely very unlikely but not impossible, is more my point.
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