As somebody who uses Pay@Pump quite a lot, I much prefer how Monzo handles these transactions more than any other bank I’ve used where you get a notification a payments been authorised, the feed shows it and says ‘Amount Pending’, then notifies me when the final amount is received.
An idea I had this morning is that what if I could click on the item in my feed when it’s awaiting payment and enter what I just spent for it to be subtracted from my balance immediately rather than wait a couple of days.
Obviously if you put the wrong amount in, when the actual amount comes in it would override it.
I think this is why this is not a good idea. People will put in the wrong amount. People will then presume they have X left when they only have Y, they will overspend… overdraft… charges… complaints.
The defence rests.
1 Like
phildawson
(Sorry, I will have to escalate this.)
3
It’s a good idea but theres about a million threads with this idea going back three years.
Oh sorry, I didn’t see one with this idea, I’ve seen them with discussions about how pre-auth works but that’s different to an idea on how Monzo could improve their handling of it. If there is a thread with this idea, happy for it to be merged and vote for it.
phildawson
(Sorry, I will have to escalate this.)
5
Well a million might be exaggerating it but I’ve seen at least 20 or so. I’ll find a couple of recent.
Ha, gets a bit meta here I’m pointing out another thread.
Here’s another one I can quickly see with a similar thing.
Even better option get ur fuel at Costco, it only allows you to take the amount of fuel you have in the account balance, so £20 is all you have that is the amount the Costco fuel pump will allow you to spend and it’s done instantly on Monzo too
But if I go near Costco my Monzo account will also show that I’ve spent £67.10 bulk buying chocolate muffins, loo roll, and 3 things I don’t actually need!
But if they don’t realise it, and work of the balance left (that is wrong), do you really think there wouldn’t be complaints when they started getting charges? "Well why can’t Monzo know the amount in the first place? Its in a system somewhere isn’t it’? And so on and so forth.
I’m not saying this is reasonable behaviour, just that it will need to be consider. And whilst I would never presume the user of any system is an idiot, personal experience suggests it is most definitely something to factor in…
Agreed. But Monzo still then have to deal with a complaint. Which costs money.
Ultimately, what’s the ROI of letting people put in a value, versus the current system (which now costs Monzo nothing as it’s been built). That’s all I’m really saying.
Ha, gets a bit meta here I’m pointing out another thread.
