I have set up several scheduled payments recently, some using the ‘stop repeating’ feature…
However, I’m not 100% sure whether this will allow a final payment on the ‘stop repeating date’, or whether I need to set the stop repeating date for the day after.
example:
Monthly payments on 1st of each month, to stop repeating on 1st January… will a payment be made on 1st of January with these settings?
I agree - it’s not clear when it says “Stop payment on” if a payment will go out that date or not. “Last payment on” would be much clearer. But Monzo wouldn’t have to limit the date range based on frequency - it just follows the schedule until that date and stops, even if that date is between payments. That’s how Metro works and it’s great.
I am keen to know this too! I have several sinking funds set up in joint pots and the rate of saving switches from ‘aggressively’ saving (because we forgot to), there is a large purchase of season tickets and then save up a smaller amount for actual spending at the games. I am wondering if the last payment will include the ‘stop repeating’ date or not…