Repeating Payments by duration, not just end date

Feedback & Ideas
#1

When scheduling a payment you only have the option to choose a future date for the repeating schedule to end.

How about a duration too? If I have £1000 and want to give myself £100 a week until it’s gone, I want to say “repeat 10 times” not “end on this date”. Choosing an end date so far into the future using a calendar makes it really easy to make mistakes. It’s a very manual counting process and isn’t very inclusive for many (not all) neuro-diverse people.

I think Monzo can do better and make that process even simpler, while keeping the end date for those who do like that system.

#2

If you stick it all into a pot you can set a scheduled withdrawal to weekly.

#3

Or just pick the date you want it to end as it’s designed as… 10 weeks ahead on the calendar

#4

I was thinking of this the other day. It’s an excellent idea!

3 Likes
#5

I mean, this works yes, it’s what every other bank I’ve used uses for the logic of standing orders and such. But I really don’t like it. It makes things unnecessarily confusing in a lot of scenarios.

I’d feel much more comfortable and confident in choosing how many times I want it to repeat, rather than a date I want it to end on. Less margin for error that way.

2 Likes
#6

@Carlo1460 Forgive that my example was over simplified. Imagine it like 48 payments that are monthly. Do you really want to click 48 months into the future and hope you’ve counted right, or do you want to instead say “repeat this 48 times”

1 Like
#7

I’d probably just set a direct debit for ease and can forget about it until it’s paid or set a calendar note to remind me if it was so difficult.

#8

Yeah that’s a good option for a lot of people, just not everyone and in every scenario. Sometimes you’re repaying a relative or an employee for example. Or saving for something specific. Lots of other situations.

1 Like