I opened a Monzo account not long ago and I wanted to know if I can use my Monzo for student finance, last year my friends received their student finance a day or so earlier due to the bank account they were using just wanted to ask if Monzo gives out student finance on the day allocated or a few days earlier
It would arrive your account when it normally would in the BACs cycle (unless they’ve switched to faster payments but doubt they would due to volume of payments), but likely to show as “incoming” the day before.
Monzo used to deposit into your account as soon as they received notification of the deposit from BACs, a day or so earlier than the BACs ‘3-day cycle’. This is probably what happened to your friend.
I believe Monzo removed that ‘perk’ months ago. This is probably because BAC’s could in theory stop the transaction anytime in the 3-day cycle so Monzo would be liable for the early release of the funds or be asking for them back off you.
They now tell you that it is pending, as @Dannytc mentions, instead.