I’ve finally closed my Investec pot, which has been my main pot since they came into effect, as well as my round-up destination (the interest rate is now silly, may as well relocate that money elsewhere).
When I click the greyed out credit item in my feed, I get this shown, which I think is a new addition, and certainly explains things quite clearly:
The BACS payments are fronted as they take 3 days to arrive and the money is guaranteed and cant be recalled at the point monzo allow you to claim the funds early.
The three-day lifecycle doesn’t matter as much as the fact that funds can’t be recalled at the point which Monzo front the money.
The same applies to the savings account withdrawals too - once you ask for your money you can’t do anything with it until it arrives. It would result in a more seamless experience for users if they’re being shafted on the interest rates at least
That script has been there for quite a while.
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