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…
I got an answer to this. The date is inclusive. So if you pay on the 1st of each month and want it to end on 1st November then if you select 1st November as the end date the it includes it too.