So your answer is in agreement with mine, that people just need to pay early by manual payments if they don’t want monzo showing them their debits are due in a few days?
Or will you argue that’s not correct too?
And like someone already suggested, it COULD work exactly like monzo loaning you the money on “get paid early”. As long as everyone is aware of the T&C’s - you could LOAN MONZO the money when you pay early - then they pay the dd on the correct day.
In some respects this could be a benefit to monzo as it would offset the “get paid early”
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What if the company cancels it and Monzo holds the money? How many complaints is that going to result in?
Monzo wants less human interaction, not taking loans off customers to pay bills. That’s the customers responsibility.
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That’s fair mate, have your opinion. But like I have said, they introduced it one way, no harm in people wanting the other function. I’d love it, it’s clean and effieicent. You don’t want to do it - stick to your pots etc. Different strokes for different folks and all that.
The two options are not the same. Direct debits are contractual agreements, paid early is not.
Monzo can withdraw paid early at any point in time.
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They might not be the same, but to the customer, there’s a lot of (logical) crossover/comparison.
If you don’t want the function, then why do you have to be the party pooper for people who do?
Go champion the functions you DO want.
I’m countering arguments with logic. We don’t all have to agree, it’s ok not to.
There doesn’t need to be any arguments as it won’t happen.
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Nah, we want digital parents in the name of banks
Like I said at the start - it’s interesting how different peoples brains work.
The fact is though, you don’t want this function. So why expend so much energy to down play something others do want.
All you ever offer is work arounds that you might be satisfied with mediocre.
And you know this how?
Common sense.
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That’s not always how it works, though. Some companies will still take the direct debit on the due date, even if you’ve already paid it early, and if you pay it within the three days before the payment date, when the DD has already been requested, then it’s too late to stop the DD coming out.
Exactly - but this is what happens when it’s in the collection window when it shows on Monzo. The exact time where the function of “pay early” would work.
And I think some go as far as 8 working days before due date, anything past that, they won’t amend it
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Most here have been around the block long enough to know that not all tech decisions come from “common sense”
There’s nothing wrong with the idea anyway, makes perfect sense - some of you just don’t like the idea and are happy to be the ones who take away from people who want to contribute valuable ideas
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Direct Debits are managed by Bacs, and work on the principle of a 3 day processing cycle. Instructions can be presented in advance by whoever is taking the payment from you, but the processing and settlement dates are then fixed. The money is withdrawn from your account on the same day it’s credited to the company you are paying. That’s fixed, and you can’t change that.
If you are suggesting that the bank could provide an option to “remove” the amount from your cleared balance then I suppose they could develop that: you would not be paying the DD early as money would not go to the company you are paying at that point.
Given Monzo already provide advance notice of DDs and bill pots from which you can pay, I can’t see that they are going to bother with this development.
There would also be a question of whether that would contravene Bacs scheme rules. DDs are very tightly regulated - it would be an interesting question.
There have been various proposals made for more flexible types of payments which may be developed as wearepay.uk develop the UK’s payment systems but they’re not going to be available any time soon.
Edit: the whole underlying “language” of payment transactions is slowly migrating to ISO20022 which will provide richer payment data and more opportunity for innovation. Bacs DD messages haven’t changes in decades - despite the files now being sent electronically the file format still includes headers and footers from the days of magnetic tapes being sent by courier.
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Just pay your direct debits from a pot. Money is then ringfenced.
It’s available now, job done - no overengineered togglable “solution” needed 
Plus you’ll get 0.00000000001% interest for the extra time your money is in your account and not someone elses 
Their worry is spending the money on a good weekend.
They can dip into the pot. They want the money to be inaccessible
That risk will always be present, no matter how many “tools” Monzo introduces.
If someone withdraws from their bills pot, they understand what they’re doing and may need broader financial support or guidance rather than additional product features.
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