Just realised I only changed bank details yesterday. Will this effect anything? Like will I still get paid into monzo but not until tomorrow or?
In that case it’s likely going to the other account, most companies payroll have a cut off date as to when any changes won’t be effective until the next pay run
By ‘only changed bank details yesterday’ - do you mean you only informed your employer of the change yesterday? If so, they will have already submitted the payment to your previous bank.
Yes, where I work the cut-off is around the middle of the month for payment at the end of the month. Is the previous account still open, or did you do a CASS?
If you did a CASS, it’ll be forwarded to the new account, otherwise it’ll go to the old account.
Get Paid Early is a really nice feature, but is it worth all the support inbound it must generate for Monzo?
I’m sure if it ever got too much of a liability it would get pulled
Locked pots went for the same reason.
If you’re paid monthly, generally expect a cut-off for any changes 2 weeks before your pay date (this will vary employer to employer but in my past experience it’s a general rule of thumb).
Therefore, any changes to salary, benefits, deductions, or bank details will need to be submitted prior to this cut off.
If you only changed bank details yesterday, it’s doubtful this will get processed in time and you’ll get paid into the existing bank account they have held on file for you.
I’d expect it to all be processed fully in time for the next pay run.
I guess you didn’t speak to HR then like you claimed earlier
I think that rather depends on what time the sending bank process it, mine have been 3-5am. My weekly standing order out from Monzo was at 3-4am (Only 2 so far)
The thing is unless you transfer them out by faster payments, or withdraw as cash any outgoing transactions wouldn’t hit the account till the next day anyway. For the most part it’ll cost them nothing