Safe to move my salary to Monzo


(Cristian Randazzo) #1

Hello there;
Got my Monzo CA one week ago. Since then all worked fine for me !
I was just wondering as this is still a preview;

Is it safe to ask my boss to change my bank account details with the Monzo CA ones ? :smiley: I mean, I just look forward for so long to get my salary on Monzo and to move totally with you guys and to close my other bank account which at the moment I will not because is still a preview but I would like to try and get my salary on my Monzo CA :slight_smile:

Keep up the good work !


Security - it doesn't 'feel' secure
(MikeF) #2

How to answer that?

A number of us have switched over and a number of us have been paid successfully since (I haven’t hit a payday yet) so it appears quite ‘safe’ as long as your employer accepts the account details.


(Tony Hoyle) #3

Just make sure you have an overdraft agreement ready with your previous bank… manually moving direct debits with come companies can take ages (esp. if they insist on doing it by post) and you can find payments coming out of the old account long after you’ve moved your salary. I’ve done a manual bank move a couple of times and it’s never gone entirely smoothly (ranging from ‘oops I forgot that one’ to ‘company takes a DD change as a cancellation request and applies termination charges’).


(Cristian Randazzo) #4

Yes I know about that stuff. I have no DD for anything.
Well so as I see the 2 answers, it is safe then. Well I will ask them to change with my monzo details, for which my payday is always between 30th(the end of the month) and 2nd(beggining of the new month).


(Marcus Nailor) #5

Just for a 3rd opinion, yes :wink: I trust Monzo with my salary haha - Took a bit of work for the Natwest payment system my company uses to see Monzo… But it worked once payday rolled around :smiley:


'You've spent £xx today' messages
(Caspar Aremi) #6

Lots of us have already! No reason not to. But keep a little cash in your old account just incase there’s an issue.

There’s another thread about this, which this question may get merged with: Receiving Salary in CA


(tom) #7

I put my salary straight into Monzo, if that makes you feel any better?!


(Cristian Randazzo) #8

Thank you !! Just wanted to make sure :smiley:


(Tom ) #9

Me too!

With both FCA authorisation and FSCS protection, I feel very safe.


(Sufi) #10

I have already changed my bank details with HR and looking forward to getting paid in Monzo CA - All but one direct debit transferred and standing orders as well.

Great point :+1: if anyone has any hasitation.


#11

Yeah but, your employer isn’t going to be touchy about Monzo, are they? :thinking:


(Adam Williams) #12

I don’t see any reason why a competent HR department would have any problem with a change to payroll details :slightly_smiling_face:


(Adam) #13

I got paid today into my legacy account. I missed my payroll cut off for this months pay.

First thing I did? Transferred every last penny over to Monzo.

I have money in my legacy savings account for an absolute emergency but no issues with Monzo so far and I’m confident enough to have my monthly salary paid in!


(Cristian Randazzo) #14

Yap, there should be no reason. Their job is to send you the salary. As long as it is a english bank should be fine haha


(Cristian Randazzo) #15

Well I do feel confident about Monzo but for me the salary is an important thing but after all this answers specially from Tom I have no dubs. I already changed my details with my employer ya ! Looking forward to get my first salary :heart:


(Mark Edmonds) #16

Received my second month of salary to my Monzo account, so its a :+1: from me!


(Colin Robinson) #17

HR departments are competent but some of the outsourced payroll providers aren’t up to date :slight_smile:


(tom) #18

Good point - we are working payroll providers right now. Most should now be up-to-date. cc @Will-S


(Colin Robinson) #19

Well I’ve switched mine over and am now nervously waiting to see where my salary ends up on 29th :wink:


(Jonathon) #20

Best advice really. I already have a charge for a direct debit I annoyingly missed to move over.