Has any bank before Monzo actually paid early on a weekday if payment was due on a Tuesday/WednesdayThursday or Friday? (so if paid on Tuesday if due on Wednesday?).
The other banks is a weekend thing wasn’t it? If I remember right, Natwest/RBS only paid out on a Saturday when BACs payment was due on a Monday. They stopped that about January 2019 to comply with EU directives. I believe Barclays didn’t go that route so still does this I think?
Santander paid me on 30th November (Monday) instead of the first of December.
No bank ever gave the option if you’d like it early or not like Monzo
Yep.
And as I said further up, Monzo markets it better than anyone else. Reminding customers every time they receive a BACS transfer that they can get it early (it would be interesting to see what proportion turn it down) is part of that marketing.
With Barclays it arrives after midnight. Meaning Saturday wee hours for Monday payment.
But it is not 4pm Friday like Monzo.
I’ve received salary into HSBC account for about 15 years. So not quite 20 years, but I don’t ever recall being asked if I want to receive salary early.
Same here with HSBC - almost 30 years with Midland/HSBC and no pay early feature. And I’d have found out about it and used it if available!
You were never asked as it wasn’t an option, it just appeared. Others have mentioned it in previous threads too - maybe there were certain triggers. I have not used HSBC since shortly after the takeover of Midland.
Is that also the case when other traditional banks are mentioned as having had this previously? (e.g. mention of Natwest earlier)
In my opinion, giving customers the month-to-month choice as to whether to take the salary early (what Monzo is doing) is materially different to just releasing pay early every month. The later makes no difference; you’re just moving your cycle permanently forward by one day. The former has the potential to be beneficial if used selectively, as you can elect to use it only in months you need it.
What time does Revolut pay you?
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