If I went into an overdraft with Monzo but paid it back the very same day world I still be charged 50p? If not what is the cut off time?
Nope you wouldn’t be charged.
Think you have until midnight to pay in funds.
Thanks a lot.
How will my charges be calculated?
The charge will be calculated based on your balance at midnight UTC each day and taken from your account on the first day of the month. You can check how much you owe at the top of your Monzo feed anytime.
So half a year it is at midnight UK time and half a year it is at 01:00 am UK time!? As while UK time switches back and forth by one hour between GMT and BST, UTC does not have a summertime.
Lots of companies dont have time to work on time.