Recurring Payments

Monzo Chat
65

Are there plans to add more details on Recurring Payments any time soon? I would really like to see how much is going to be taken and even better include that in the chart, so that my spending timeline knows about upcoming charges

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66

I have experienced this too. Feedback from in app chat app is that its a known issue and will be resolved. My declined DD was re-processed.

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67

Itā€™s driving me mental that the regular payments list has different names to the names in the Transactions list :flushed:

Is it just my mild obsession that this is wrecking?

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68

This tab, does it disappear or can it be made to disappear or better still just be tacked on to the bottom under the categories part as right now itā€™s just thereā€¦ I know I have 2 direct debits going out donā€™t need to see it everyday :slight_smile:

IMG_4004

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69

it currently doesnā€™t disappear

70

I donā€™t think it should be in spendings but if there are more than a dozen reoccurring payments like I have you would wanna keep an eye. I know App will eventually get a major refresh so letā€™s wait and see

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71

Iā€™m super against it in spending I think the least that could happen is it should be moved under Payments under Bank Transfer as it just makes very little sense under spending and I canā€™t imagine that is a massive change :thinking:

72

To me itā€™s just an annoyance, kinda like that pulse graph.

73

Hiya so according to that fun website Experian (credit rating bods)ā€¦

Late or missed payments in the past six years are likely to impact your credit score, meaning that any credit you do apply for and manage to get might cost you more money.

With that in mind, once DDā€™s and standing orders moved to Monzo, if there is yet another unplanned outage, which happens on 1st of the month, day i guess what have everything go out, is it YOU or ME that has to write and update my credit report with the reasons why which they insist on? And happy path is, any failed payments bar the obvious make thjjem once your back online -> you have a prenegotaited agreement with Experian so they know its your fault, and not to penalise automatically meā€¦ thoughts???

74

Hello Liam, Iā€™m switching over to the current account and have come across a stumbling block. I have a standing order payment that is quarterlyā€¦ but my options are monthly or yearly. Help!

75

Hi Lee

Whatā€™s a cont-auth payment? Iā€™ve not heard the term before and Google gave me nix on it.

Cheers

76

Thanks. Every day is a schoolday. :+1: :mortar_board:

77

A Continuous Payment Authority (cont-auth) is an authorisation given by a customer for you to take payments from them by credit or debit card. Payments can vary in frequency and amount.

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78

I love technical details for payments too so I canā€™t resist getting involved. Interestingly (or not) thereā€™s no such thing as a CMA. Each time the merchant wants to take new payment, they need to request a new authorisation. But Iā€™m not sure anyone in this community needs to worry about this stuff :man_shrugging: what matters is what the user sees & they donā€™t see this level of detail.

79

yes but they just request that authorisation from the card scheme they donā€™t need to go back to the cardholder for a fresh signature or a repeat PIN

80

Right. As I said, itā€™s not a Continuous Payment Authority though. Iā€™m not sure what point youā€™re trying to make?

Also, there must be other forums where people who actually care about this stuff hang out?

81

If you know any you are welcome to advise where (URL)

Thanks

82

I donā€™t know of any Iā€™m afraid. You could try the developerā€™s Slack or set up a Telegram channel?

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83

There is such a thing as a Continuous Payment Authority in the legal/regulatory sense. It isnā€™t backed by much practical implementation or anything particularly specific going on, but that doesnā€™t mean it doesnā€™t exist.

For recurring payments, merchants generally bill you the first time with the CVC you entered. If they bill you subsequently for a subscription or whatever, thereā€™s no CVC, and there is a flag which indicates that itā€™s a recurring payment.

Consumers have the right to revoke the Continuous Payment Authority held by a particular merchant. They can do this by contacting their card issuer. This is actually something I did with Monzo about a year ago.

Practically speaking, it just means that they decline all authorisations from that merchant ID for your account.

3 Likes
84

Which would mean youā€™d have to first contact Monzo again to undo the block on that merchant ID if you ever wanted to shop at that place again? Even for a one off payment?

What a horribly non-specific implementation :confused:

1 Like