Committed Spending is Live (for now) and I love it!
Before I went FullMonzo I had all of my Direct Debits etc in Lloyds - this meant that all the money I had in Monzo was “free to spend”. Then when I moved via CASS I was basically back to where I was with a Lloyds Current Account. I had money in Monzo, but didn’t really know how much I could spend due to DDs coming out mid month.
This is where “Committed Spending” will change everything!
What we know so far:
A) Right now, the items in Committed Spending are past DDs that have already come out
B) We arent seeing any future DDs (so if your iCloud Storage at 79p comes out on the 15th of June, you wont see that yet).
C) If you do the same purchase every day (take the bus at 8:37am each day at £1.50) then Monzo should learn this trend and pop that in “Committed Spending”
D) This will also be the same for that “daily bacon sandwich from Prett”, but hopefully in the future you can decide to remove that from “Committed Spend” as thats not 100% “committed”, unlike the bus to work.
Tom