Reverse transfer from Monzo contact


(Jarryd Pearson) #1

My partner and I frequently send money to each other, but sometimes we need to send it back, either immediately or some time after the fact. Being able to tap on the transaction, then tap “Reverse” or “Repay” and having it send the money back to the contact would be awesome. It would certainly make our lives easier.


(Nicholas Martin) #2

You can already send money back to someone just by tapping their name in the feed, then tapping Send Money. Unless you’re asking for something similar to a refund?


#3

Reversing transactions is asking for trouble. I can’t see this being implemented. Unless maybe the other user could approve?


(Super-cali-fragi-listic-expiali-docious) #4

I see where you’re coming from and think it’s a great idea @Bigjazzz

@JohnE it’s not about “reversing” the transaction, it’s about the person who received the money being able to send it back easily (Probably better called Repay). It’s just a quicker way of sending money back to someone rather than having to type the full amount.

Example:

  • I ask to borrow £30 from a friend.
  • Friend sends me money.
  • two days later, I have £30 to give them back.
  • Instead of going to payments, finding my friend, typing the amount to send.
  • I find the incoming payment from friend and click “Repay” which will send them £30 back.

However, I think you could build on this idea and also have a “Slow Repay” feature where you can setup a rule to pay back X amount per X days/months till fully repaid.

Example:

  • I borrow £1000 from a family member
  • I know I won’t have that for 4 months.
  • I will however have £250 each month to give them
  • I go to the transaction and click “Slow Repay” £250 on the 3rd of every month.
  • Every month £250 enters their account till fully repaid.
  • (Can even have transaction note generated that says: “1/4 paid back”, “3/4 paid back”, “Fully Paid Back”)

#5

Gotcha. My mistake.


(Jarryd Pearson) #6

Exactly this. And I didn’t even think of the slow repay. I like that!