Fully agree with all points. Moving in and out of pots on a schedule is a messy hack until we can actually have these movements tied to a direct debit/subscription.
I’ve been waiting like crazy for the simple feature of being able to set up a standing order or direct debit to be taken directly out of a pot, rather than having to use IFTTT or this scheduled payments feature to shuffle monies around and hope that it happens properly.
Guess I’ll continue waiting…
The feature is broken. The money comes out of the pot after the money for scheduled payments comes out - causing the scheduled payments to fail .
I think broken is a bit strong. Granted, it doesn’t do what you want it to do but it does do exactly what’s been promised, i.e. transfer money from a pot on a set date.
Perhaps timing it for the same time as incoming credits would be a good enhancement since yours is no doubt going to be a common use case.
I am just trying to raise awareness quickly on various channels because it’s a pretty bad bug.
We could rephrase to “is broken in a critical subset of cases” . The feature’s sole purpose is to fund the main account for other payments. While it will work to fund direct debits, or later ad-hoc spending (I imagine that these were the use-cases tested), it won’t work for anyone sending money to other accounts - and that’s going to be a lot of people (as you note). Think: ISAs, rent, sending money to the joint account, kids at university, etc. So, yeah, just trying to get this fixed ASAP because each day more people are going to hit it - especially because this is the start of the month.
Sorry, it’s not a bug. It’s working as designed.
Eh? It’s clearly a bug.
I’d (genuinely) love to debate it but this is the sort of discussion that doesn’t work in text because tone of voice conveys a lot. Written, it normally comes across as a lot less friendly than intended.
Suffice it to say I disagree but it really doesn’t matter either way because our opinions are rooted in our own assumptions about the way it’s supposed to work and only Monzo have access to that information.
Pot withdrawals are 3am
When the committed spending pots come in they’ll be for the use you describe but pot withdrawals aren’t that
I mean, duck out of you like, but I really don’t see the ambiguity or what assumptions you’re referring to? The announcement states that it’s not just for shunting around arbitrary amounts on a schedule, but also for moving money in to fund bills. They forgot to check scheduled payments out. Simples!
My pot withdrawal occurred at 3.30am, and my scheduled payments ~15 mins before, which lead to the problem.
I disagree. The announcement explicitly said that an expected use-case is to fund bills. They just forgot that scheduled payments are a type of bill - think: rent, it’s (basically) always a bank transfer. It’s a pretty easy fix, and I am sure that Monzo will be on it soon enough.
No, you don’t and that’s why this is such a bad medium for this sort of discussion. An essay would end up being required.
Still, we can agree it will probably be sorted out on the next iteration.
Woah what? The money comes out of pots after the direct debit time? Really? What a massive oversight. There’s a reason salaries go in at 1am and direct debits go out at 2; it’s so that payments going out on the same day you get paid don’t fail. Since the use case for this feature is generally to set money aside for bills and bring it back in automatically to pay them, these movements out of pots should be at 1am. Movements in to pots should be later though as those should be processed after direct debits and standing orders.
As for terminology, if the feature is intended to set money aside for bills, and the time they’re running means that bill paying fails, I’d absolutely call it a bug. If the feature is intended for other things as well as bill paying, then it’s an oversight. A big one, but just an oversight and not a bug.
No, I think they said it comes out before Direct Debits. Scheduled transfers are the issue if I understood correctly.
Hmm, if that’s the DD time, its clearly after them too.
Well scheduled transfers also seem to happen at 3am (mine went out this morning at 3:24, previous ones went out at 3:07), so yeah it still counts and either way still an hour after direct debits. I’m alright because I have an overdraft but yeah it’s still bad.
Edit: ah i see you edited your post. Carry on
As Mike says it’s not direct debits, just scheduled transfers. What might be happening is that scheduled transfers and pot withdrawals are just dumped into a queue at the same time - 3am - so it’s a bit random whether you’ll get affected. Either way, definitely happened to me this morning!
Direct debits are totally affected though as they come out at 2am, before pot transfers and other scheduled transfers (standing orders).
Oh, good point. Yeah so it’s definitely a nasty bug then!
Now you’re just trying to provoke me
I bet you’re doubly keen not to author that essay and share it with us now .