I have had my current account for nearly a few months now and so far so good. I decided to spent the last month having my old current account and monzo running in parallel until all my direct debits were moved over.
Most of the direct debits I have changed have worked first time no problem, such as credit card issuer etc… But there have been a couple of times where I have declared my new sort code and companies have failed to recognise it.
Do we know why this is? And is there anything in the pipeline to make sure this is resolved?
The last thing I want as te advisor pointed out is for a payment to be collected for my direct debit and it to fail which may affect credit scoring etc…
You have to ask them to update their sort code database and or report them to BACS. I would have thought this would be a non issue by now considering how long Monzo has been a current account
Which companies? If you search their name on this forum, hopefully, other users have already reported the issue to them but if not, we may be able to advise on possible solutions. Typically, asking if they can investigate updating their sort code database will start to nudge things in the right direction. Most companies do this monthly or quarterly so should be fine.
In theory, if you use the CASS which is in beta testing now, Monzo set up the switching so there shouldn’t be any trouble, as they’ll be liaising directly with companies so can escalate issues. Fingers crossed, anyway.
Thanks all. What I should have specified is this happened twice with the same company. Specifically it was for Audi Finance. But it looks to have been accepted now. Thanks for quick response!
