Payments on Mondays

Hi folks

I currently bank with RBS and (as much as I hate them) one thing I like is that when salary is due on a Monday the funds are available on the Saturday before. It can be helpful if funds are running low towards the end of the month and some of my colleagues get envious as I have the option to go out and party and they have to stay indoors!

Direct debits and standing orders are also taken on the Saturday which is also cool as it prevents overspend and then not being able to cover outgoing commitments on the Monday.

I was just wondering how Mondo was going to handle payments on a Monday? Would funds be available on the Saturday?

Thanks for all your hard work… Loving the Beta so far.


As I was reading through the forum, I thought i’d give my 2 cents worth.

Salaries are usually always paid using the BACS payment system which takes 3 working days to clear, and its 3 working days are only Monday to Friday as Saturday is not considered a banking day. FP is instant (nearly) which some smaller companies opt to use instead of BACS. Either method your company chooses to pay you it should be adhered to the same at Mondo as any other bank. As you said it appears on the Saturday I would expect your company to be using the Faster Payment scheme to pay you.

@Avidfanofstuff very interesting! As @JoshuaT said, it’s hard to say what exactly is happening here without more details. We’d need to know whether or not your salary comes in as BACS or Faster Payments and if the official value date of the payment is Friday or Monday. I could imagine that they’re doing something clever where if Friday is the second day of the clearing cycle they will just credit your account a day early.

As a general rule, we’ll make the funds available to you as soon as we can :slight_smile:


Nope, my bank is the same. My salary isn’t paid by Faster Payments but standard BACS, with the official value date set as the Monday (always the 15th as it happens*). It’s just that the bank counts Saturday/Sunday/Holidays as part of Monday and so credits/DDs etc appear shortly after midnight on Saturday. Other banks count Saturday etc as part of Friday and so credits appear shortly after midnight on Saturday.

In my experience, RBS/NatWest and Barclays operate Saturday=Monday while Lloyds/TSB/Nationwide/Metro operate Saturday=Friday. I’d much prefer the Barclays option!

*My employer recently switched to paying on a Friday if the 15th falls at the weekend, until this year payday being on the 15th meant we didn’t officially get the money until the Monday (or Tuesday after a bank holiday) so it could be as late as the 18th if you didn’t bank with RBS/NatWest/Barclays!

The Mrs has also noticed this, she gets paid on the Monday yet her colleagues who are with Natwest get paid on the weekend. Very odd.

If your payments are due on Monday and are done via the BACS scheme, if the funds appear on a Saturday this is entirely under the banks descretion to credit your account before they recieve the money.

The BACS payments are only processed Monday to Friday. If the second day is a Friday and after 11am the bank will know they will recieve your funds on the Monday and so can choose to credit your account on the Saturday, before 11am your payments may be cancelled by your employer but afterwards you’d have to submit a refund request.

So essentially the bank knows on Friday after 11am they will recieve x funds on Monday so will be nice to you and give you your funds on Saturday instead of Monday.

Just so you know all banks consider Monday as Monday and Saturday as Saturday, they don’t fuzz the lines between days and consider a Saturday as a Friday.

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Thanks for the replies… Just to confirm @jonas my employer does pay by BACS on the 25th of each month… Which has meant that this month funds were available on the 23rd as the 25th was a Monday.

This has been the case with Natwest/RBS Group accounts for some time. Transactions (both credit and debit) due Monday (or following working day if bank holiday) are processed during Friday/Saturday night/morning. There is an FAQ entry on their website saying they are trying to change this behavior.

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“If you find that you have less money available to you than you expected over the weekend, it may be because we reduce your balance by any amounts that are due to leave your account on a Monday… This should not be happening as the money remains yours until the payment is due, and we are working on changes to stop this from happening in the future.”

You can have access to these funds over the weekend if you call us on 0800 151 0404 or visit a branch"

That’s astonishing…

“or visit a branch”

Good luck finding one that’s open on a weekend!

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I too had this when I banked at Drummonds (part of RBS) and also at Handelsbanken UK incomming money from say HMRC shows up on Saturday on internet banking with Mondays date displayed.

Late than never… but I think this is a benefit of banking with the same bank your company banks with! :nerd_face: Don’t think any company is going to be banking with Monzo anytime soon so don’t expect this benefit from the start. M

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I don’t think that is the case. I’ve had this from four employers now. And i know that they don’t use the same bank as me. Payments due in on a Monday always appear on Sunday.

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I confirm with Barclays that any BACS payments due to clear on Monday, appear in your account during Friday night / Saturday morning. This is really handy sometimes and I do hope Monzo does this by making Saturday a Monday :grinning:

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this is an antiquated system that RBS/ NatWest has and they are currently looking to find a way to stop it as it causes alot of inconvenience. I have a basic understanding on how monzo are building their core systems but from what ive seen i doubt they will purposefuly add in a feature that causes bacs payments due in or out on a monday to show on a saturday!

Keep Calm, Folks.
Mondo will definitely get us all the VERY BEST of Banking Options & Experiences.
Cheers, y’all :beers:!

Hi, I was reading through your comments and this is quite interesting and would just like to comment further, I have until recently Banked with NATWEST and I always had my Money paid in for a Monday however it will show on Bank Statements as being paid in on a Mondays date however the funds were available to withdraw using an ATM on a Saturday because following discussions with NATWEST certain Banks computers do not operate on a Monday therefore they can’t credit in on a Monday so it would either be a Saturday or wait til the Tuesday.
However I am now worried as I no longer Bank with NATWEST but NATIONWIDE so will be intrigued to see when I be able to access my funds.

Hi I get paid weekly into my Monzo account but I have noticed that the day my pay get credited is different from RBS. With RBS I got my time sheet processed on Wednesday and it would be in my account on the Saturday. But now with Monzo it’s monday?

My understanding is that RBS credit you early if you BACS payment lands over the weekend. Could Monzo do the same? As getting payed early is an obvious bonus lol.?

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This was actually brought up a while ago :eyes:

Here was @Jonas’ take on it :point_down:


I used to bank with NatWest and my money used to go in on Saturday even tho my payments wasn’t due till Monday but I’ve just changed to nationwide does the same happen with them?