Receiving Salary from Barclays


(Shamil Nunhuck) #1

It looks like I can’t have my salary directly paid into my Monzo account - my work checked with their payroll processor who asked their bank processor, Barclays.

Barclays does something in the way they process BACS which means that until Monzo’s out of beta, it won’t send any payments to it.


The Monzo Current Account Preview
(connorianreilly) #2

Barclays reek of fear. Let’s take them down, Monzo. :angry:


(Caspar Aremi) #3

That doesn’t sound right. Why would they care if it’s out of beta or not? They should just take the sort code and account number and pay in to it. I’d contact support and ask them about this. If they are blocking Monzo specifically, it would be anti-competitive.


(Shamil Nunhuck) #4

I’ve asked them to contact support, because I completely agree - unless they’re using a horrendously outdated EISCD file… which I suspect they aren’t.


(Danny) #5

Probably just the payroll processor unable to process this on their system so blaming Barclays.


(Rika Raybould) #6

To confirm, the current account is not a Beta. It’s a full, working account as far as the payment systems are concerned. We label it a preview because some of the extra functionality on our side (Monzo.me, app interface, etc) isn’t 100% there yet. :slightly_smiling_face:


(Frank) #7

Are you trying to pay into the preview current account or the beta prepaid card? The former should allow it but the latter will not.


(Alex Sherwood) #8

The current account. I’ve moved this post from the current account preview topic & added an - CA to the end of the topic’s title to make this (& other posts) easier to identify - hopefully that’s just an interim solution though..


( related to Monzo CEO, Investor in Monzo ) #9

while admiring the trust in Monzo and its new Current Account launch it perhaps not completely wise to put all your funds into a Current Account at this time that is being tested to see what can be broken is it ? :slight_smile:


(connorianreilly) #10

You’re assuming that receiving your salary onto Monzo means all of your available funds, which simply might not be the case. :slight_smile:


( related to Monzo CEO, Investor in Monzo ) #11

true I am , and they may not be :slight_smile:


(Rika Raybould) #12

Ideally, you can put your salary into the Monzo current account (as many of us are doing internally) but what we recommend is keeping a bit of money elsewhere too.

Honestly, it’s makes good sense to not leave 100% of your money in any one account in any one bank, though we hope that Monzo will be your main bank that money flows through. :monzo:


(Colin Smith) #13

I agree. I am waiting desperately to chuck Barclays.


(knows someone who knows Tom quite well) #14

You mean, like starling? :wink:


(Shamil Nunhuck) #15

I don’t plan on putting all 140k into the account… god no… recipe for disaster


(Shamil Nunhuck) #16

Here’s the response from the payroll service:

As per the update from the development team Monzo Bank Limited is a new start-up, and the sort code has only just been added into the modulus checking specification, and does not become valid until 21st August. In other words, it seems they are not quite there yet.
Please refer to https://www.vocalink.com/media/2717/vocalink-validating-account-numbers-v440.pdf
Version Date Details
4.4 13-Jul-17 • Section 6.1 - Added new sort codes 230088 and 040004.
These changes will be active from 21st August.
At this time we would suggest to use alternative bank details for this month since we have the pay date set to 18/08/2017 or make the payment electronically outside of payroll on or after the 21st August.


(Adam Williams) #17

That would’ve been useful to mention at the current account presentation - I assumed the sort code was “live”


(Adam) #18

no issues from my HR (although they have the old address :man_shrugging:t2:)


#19

My payroll company was able to update my bank detail and pay my salary into my Monzo CA without any fuss or delay.

I get paid weekly and have received two payments from them.

I’ve received my card on the 1rd of August, contacted my payroll company the following day and received my payment on the 4th as expected.

So I suspect the problem lies with your payroll company not Monzo.


(Caspar Aremi) #20

It is live - but as it’s new, some companies may not have updated their databases yet. Mine hadn’t when I first tried to update a few weeks ago but is now fine.