Bringing age and a supposed correlation with how well that means people understand things was very bizarre and quite arrogant really. Saying that older people are more knowledgeable and that “less knowledgeable” people, meaning younger people if “more knowledgeable” people are older, wouldn’t be able to understand what a cleared date meant, was completely unnecessary to the question you asked.
Age is a very important factor in product design. Monzo will have designed their product to work best for their targeted age group. As the other commenter noted, settled date is now the legacy system. Most people now just want to know exactly when their transaction occurred.
Each to their own, it’s a discussion board and we’re all different in our desires, as the thread has shown. I also regard until it physically leaves my account and is written as a confirmed entry it is nothing more than a hold on the money, and not an actual transaction. I’m also never aware of any transactions debiting immediately, the merchant still needs to submit their transactions for actual processing at the end of the trading day.
Detail for me is always important, in my opinion, over aesthetics. To give you an example, the V1rgin credit card have decided to copy the Monzo approach by beautifying the transaction - as in rewriting and editing the merchant name to be in standard case, and assigning a logo, and so losing the detail in the presented merchant data.
The system is not perfect and you lose lots of actual detail - for example, any Tesco purchases now just say a generic “Tesco” rather than “Tesco Stores XXXX” - XXXX being the store number. So in the app you now need to drilldown further into the transaction itself to get that detail and where it was spent, whereas if it was left as presented, you could see where at a glance before.
It also has a weird thing of completely removing things arbitrarily, for example purchases in the work canteen come up as “ISS” - google this and first result you’ll get is the “International Space Station” Lol. Rather than if it was left as presented, it would show “ISS Facility Services”, this is more helpful and descriptive if it’s your first purchase in the work canteen, and you don’t know it’s oursourced.
The money is a transaction the second you’ve spent it. The “confirmed entry” is just a book-keeping record.
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I definitely prefer the way Monzo show the transaction date on the statements- not so keen on their layout though
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