Move money out of pots automatically!

If I want money to go into a pot on the 28th, but wages don’t come into my account till 1am…how will that work?

There’s normally a set time for these things:

1am for Bacs direct credits
2am for Bacs direct debits
3am for standing orders and transfers.

Not sure if these are industry times but they are the Monzo times


Right I will set up pot transfer after I know what time money arrives in my account…as I am not sure about the time…I get paid by bgc (bank giro credit…not by bacs…so it could be 1am or 3am…before or after the direct debit goes…

I have a few pots where I move the whole balance back into my main account just before pay-day. I know Monzo doesn’t do esoteric pay-days yet (last working day, last day etc), but it’d be good - for me at least - to be able to set transfers up to be payday +/- days…

On the whole balance point, does anyone know if I set a regular transfer for an amount larger than I’ll ever have in my pot, will it fail or will it just transfer whatever the contents is into the main account? :thinking:

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It will fail I believe but I have no ready source to confirm that.

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Incoming standing orders and transfers are processed by monzo as soon as they ar received. It’s up to the sending bank when to send it out though on the specific day. BACS are queued in advance hence people the specific time they hit your account.

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All good, but how does this work with Summary?

Currently I have enough money on my main balance to cover my DDs, I’ve moved some into a pot and scheduled it to come out when the DDs are due but Summary now shows I’m going to overspend but the same amount…

For clarity, I have the exact amount in my Monzo account to cover my remaining DDs.

I get paid at pretty much any time on the last day of the month through Faster Payments (last month it was at 15:54), so I am setting up the moving into pots on the 1st of every month for the time being until my salary can be automatically detected either by IFTTT or Monzo itself. That would be the ideal.


All the money is in my pot… will it move in time? Let’s find out! :joy: @Jami


Good luck … I did a test to pull out £1 of a pot today, and it did so at 3.18 AM :face_with_monocle:

My overdraft will cover the amount if it doesn’t move in time so I’m safe but I’ll report back!


I think scheduling money in/out of pots is great, and have activated a few automatic monthly transfers, though I’d like for these transfers to be based on funds in from my employer as I don’t always get paid on the same day.

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Hi, how can I amend these transfers once set up? (Amount, frequency end date etc)

Sorry if this is a stupid question


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I’m having this issue on Android - once they’re set up, there’s no visibility of them :anguished:

Payments tab then Scheduled payments :slight_smile:

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Thanks! Quick question: would you know why scheduled payments and withdrawals from a pot look the same on that tab?

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So update from me on this… (for context, I am currently out of the country and only use Monzo for my remaining bills in the UK, it is my only UK bank account)

I moved some money from my main account into a pot then scheduled for that money to come back out of my account on the same day as my next direct debit, there were a few issues I encountered during this test which I thought I would share.

Issue 1 - My DD was due to go out on the 26th August, due to the weekend + bank hol it didn’t come out until today (28th) but as I set the scheduled payment to move the money back into my main account on the 26th (the normal DD date), this moved two days earlier than I would’ve liked. This could be a slight annoyance for some people.

Issue 2 - Summary consistently told me that I was going to run out of money and my committed spending was more than my balance, even though the money was sitting in a pot and scheduled to be moved back before the end of the month… I would’ve hoped it would have been smart enough to know this…

Issue 3 - After I reset the test and scheduled the payment to come out on the 28th to match the DD date for this month, the DD came out an hour and 20 mins earlier than the scheduled payment leaving me overdrawn for that period of time. In this case my overdraft covered it and no fees were charged… but what happens if someone doesn’t have an overdraft?

Overall, I would say it’s currently not the perfect set up. Unless you want to mess around changing the dates of the scheduled payment back to your main balance each month due to dates moving then it may just be easier to move the money back the day before yourself.


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… :upside_down_face:


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 :expressionless: .