Monzo Pots and DDs

UK Help
1

Someone asked me for advice (I’ve no idea why me!)

They said they’ve got the ‘Perk’ and use the virtual cards for payments. They’ve seen a bit within the pots/cards for ‘Direct Debits’ to be paid from the pot, but when they go to add the direct debit there’s no option to do so, only selecting existing scheduled payments.

I then asked whether or not they have a DD set up from their main account. They do not.

So it seems to me that you can only add the ‘pay from pot’ by DD once it has been taken from the main account at least once? Thats what I’ve told them anyway.

Do you clever people know whether that’s correct or am I leading them up the garden path? I think they were thinking it would come with its own sort/account and they could provide the service provider with that, rather than their main account.

1 Like
2

Oh. Now I’ve posted I can see related items that may now answer this… unless anything has changed?

IMG_4907
IMG_49071206×1202 189 KB

3

The direct debit doesn’t need to have a payment taken for it to be assigned to a Pot. Monzo will notify them when the direct debit is set up, and from then go to Pot, edit scheduled payments, and then add or remove payments.

If it’s not visible, it’s not yet set up.

People also get confused about direct debits, when they are referring to Netflix or other recurring card payments. These need to have their first payment taken from the virtual card assigned to the Pot for it to then be visible, and taken directly from the Pot.

3 Likes
4

As Carlo said, people tend to get confused for some reason:

  • If you are asked for Card Details (16 digit card number, expiry date, etc) then it’s a card payment
  • If you are asked for your bank details (Account Number and Sort Code) then it’s a Direct Debit
  • If you are GIVEN bank details to send payments to, that would be a bank transfer or Standing Order if recurring.

Once a Standing Order is set up by you, or when you get notification that a Direct Debit has been set up, you can assign those to the pot.

4 Likes
5

This makes sense. Thanks both. It sounds like they hadn’t set anything up but was looking for the sort/acct for that pot so it could be set up to come directly from it.

I’ve let them know. It’s definitely a DD not a card RP just seems it needs to be set up via the main account. I guess that’s not too bad and the automation is done thereafter. It makes sense I guess, as pots aren’t accounts and you could accidentally or intentionally delete a pot with live payments coming from it.

I think the confusion is because the pot has its own card they presumed it would also come with its own account.

1 Like
6

Only Chase adds additional accounts with their own account number and sort code. Even their savings accounts allow you to set up direct debits to them, which isn’t common practice.

1 Like