With you on that one, from a n00bs perspective they are similar, but if we was given the opportunity to have small features released which could you survive with and without, rules with Direct Debits or Standing orders?
I believe there are lots of great little plans coming with pots though, Monzo have been scheming on this for a while.
Given that TFL transactions go through even if you don’t have the funds, I don’t think you can default on one of their payments. The worst that can happen is to not have 10p for the initial check when touching in, at which point you’ll need to add money and wait some time for their cache to clear (it’s station-wide from what I remember) before you can try again and it’ll authorise and let you in.
Joined the community just to see if someone had asked for this feature and was not disappointed
It just makes much more sense to me to be able to put money in a special pot that your direct debits and standing orders will be paid from, covering your financial commitments for the month, so you know what’s in your current account is yours to spend or save into another pot.
Rather than put money in a pot for Direct Debits and want Direct Debits to come out of that pot, the other way would be to have Direct Debits come out of the main account but transfer the rest of your money into a spending pot and have card transactions come out of that pot
I was reading this confused, but it literally is the reverse of the requested - which is a decent idea. I would assume (noob assumption admittedly) that the same amount of development time/effort would be the same either way.
Hey Richard thanks for the update! I think the integration is amazing, and the creations people are making are great.
If you have any influence over the list that Monzo are working on, I still think a dedicated direct debits pot will win the hearts of many and change the way we all manage our money.
I hope everyone is well - today is another attempt to bump this topic; mainly for the attention for a dedicated pot for direct debits.
It’s all pretty self-explanatory. In the past Monzo had spoken on “being a financial control centre” and the mission statement has since been updated to “Monzo makes money work for everyone” - I believe that a Pot dedicated to all Direct Debit payments no matter how primitive it works will help put Monzo customers in better control of their finances and ‘make money work for everyone’.
And who knows it could convince a few more customers to go #FullMonzo or at least half&half with a few easy to manage Direct Debits.
I envisage something similar to the ‘Coin Jar’ pot when that was released, a pot specifically named something (even a GUID if necessary) that triggers all Direct Debit payments to be taken from it.
But… I’m no microservices engineer or developer , I don’t know the complexity of this request, so if there are any Monzo Engineers willing to explain the limitations I would love to read about it (@simon@cookywook@kieranmch )
Please make this incredibly useful tool a reality for us that need it - don’t make me say I am willing to pay for it (I rather not, but if I have to…)
These are just a handful of other people in need, like me
(I trust we can all search the forum so I’ll skip those) any feedback would be appreciated