I have a standing order due out today which is a Sunday. Previously with Starling standing orders would go out on the day they are supposed to (complete with retry if not enough balance).
With Monzo they don’t do standing orders on weekends. What is the reason for this? It feels like a backwards step.
This is one thing I used to like about Yorkshire Bank. Transactions credited and debited 7 days a week. If a DD or SO was due to fall on a weekend day then it debited. And my wages used to credit on the Friday even been due on the Monday.
I’ve not been with Monzo long enough to tell if DDs or SOs transact at the weekend.
Salaries are different, they are sent by your payroll on a specific day and usually by BACS. They have rules about when payments are sent and aren’t processed on weekends so if you pay date falls on a weekend they would process the last working day before this
For years, RBS/NatWest used to put a salary due on Monday in your account on Saturday. Was a nice ‘feature’ of their outdated systems but they ‘updated’ the system in January this year and it apparently no longer happens (although I haven’t been paid Monday since the supposed change to confirm).
Got reply back from customer support. Standing orders go out at the end of the day nor the start. So the standing order due out today will go out at midnight tonight.
Everyday I was told. Confusing through as you say you had a payment taken at 3am. I could swear I’ve had the same. I suspect this is weekends only even though I was told it happens the same every day.
Update on this. Monzo have confirmed that standing orders through CASS are treated differently. Those do not go out over the weekend. The thinking behind this is that they want the behavior to match the legacy banks they are being transferred from. To fix this so they go out on weekends you have to delete and recreate them.