Credit to former crowdfunding investor @davidwalton for spotting this one 
. Splitting this out into its own topic.
I’ve just had a terms and conditions update drop into my inbox with the following:
Looks interesting. Would be keen to hear from Monzo how this will work in practice. I’m hoping it’s just as David has said it’s a short period after pretting confirm where you can undo the action.
Well played
I saw the title and was ready to put it in the top 3!
It’ll be interesting to see how long the delay is and if I can avoid it. Usually I want to move my money right away.
And how many people that are scammed realise that quickly?
Damn I literally was creating a post for this 
I think it’s seconds (maybe 10 from the teardown?) ex-investor @davidwalton may confirm.
Read a number of articles where people say it dawned on them very shortly after they sent the money. Whether that’s true or not is anyone’s guess, but reasonable that the panicked mindset would be relaxed after making the payment and only then do people realise it doesn’t feel right.
Edit: just read the teardown thread and it says 10 seconds. That’s probably quite a small window. I guess does need more clarity over how it’ll work.
Right!
Actually the context from the teardown helps a lot, because from the little information given in the terms update my immediate thoughts were, scammers will love this and people won’t accept Monzo payments.
Appreciate it’s still very early days, but the messaging from Monzo on this has not been good.
it’s not even launched yet, so that’s why there’s no messaging from Monzo 
Maybe I didn’t articulate this well but the terms is the messaging I’m referring to.
They make it sound like the payment could be sent and then recalled within an unspecified amount of time.
Which is very different to the 10 seconds to undo before the payment is processed. I kind of get the feeling this could have been worded better still without giving anything away.
I guess the way to put it is say you’re a property solicitor and you have a client exchanging today, if you saw this terms update from Monzo you’d be well within your rights to say ‘if you’re paying us your deposit from a Monzo account, we need to hold the payment for 24 hours before exchange’.
Yes I definitely think there’s an “Oh shit” moment, but I don’t think 10 seconds will achieve anything.
I do wonder if you made a payment and put your phone down. Could you pick it up, unlock, Monzo, payments, “recall” within 10 seconds? This is the sort of thing @N26throwaway likes to test.
How useful this is will probably going to come down to how well the confirmation screen (where you can presumably cancel it) is designed. You’re probably gonna need some very glanceable and important information for your brain to react fast enough I imagine.
I feel like 10 seconds is too slow and won’t be useful outside of noticing and correcting a mistake on the confirmation screen. 20 seconds I think would be far more practical.
Yeah, I only noticed the 10 second limit after reading the other thread.
My interpretation was that once it’s sent it’s sent (rather than being able to be recalled), but there’s a reasonable delay on it actually going out. So like undo send in Gmail as David mentioned. That wouldn’t cause any issues with making payments for house sales etc as once it was sent that’s it, but you’d be able to change your mind and stop it even going out of your account.
I guess like a standing order that’s set to go out in 10 minutes.
10 seconds, I’m not sure would be too useful.
Great that Monzo are adding new feature but it shouldn’t take the instantaneous nature of Monzo.
I think that we can learn a lot from email services who operate the same features.
One thing I like about Monzo and American Express is the notifications are instant. Transfers are instant along with updates.
Any delay that’s too long would be detrimental I think.
I’m guessing the upcoming feature will allow users to quickly backtrack when they’ve mistakenly (for example) initiated a payment from a Personal account instead of the intended Joint account - or - to a different recipient account than intended - or - etc.,
aka - ‘Phew’ thanks 
for allowing a bit of after-thought recovery.
Keeping in mind we only have the extra context around the 10 second period from the teardowns and nothing has been officially said about this feature beyond the text everyone would have seen in the terms update:
I’ve just found the Reddit equivalent of this topic and the most upvoted comment is someone concerned that they’ll sell something on Marketplace, the buyer will pay by Monzo, walk away with the goods and undo the payment.
Now I know there will be boring legal reasons why this had to be announced in the terms ahead of time, but I just can’t imagine a high-street bank being so careless with the language used in those terms.
Word-of mouth is powerful and rumours about this can quickly get out of hand, plus all it takes is one clickbaity online website to run a story on this for it to turn into a dumpster fire with people distrusting payments coming from Monzo accounts.
It reminds me a lot of the issues with payments on planes and also the fact that so many people still see Monzo as a prepaid card - Monzo shouldn’t be giving people more reasons to distrust them as a bank.
Just to be clear, I have no issue with the feature, especially if it is only a few seconds. It’s the copy used in the terms given that the terms are the only announcement that’s the problem for me.
I think this overall is one of those growing up with Monzo problems, but I want my bank to be careful and boring with these things.
In my mind the money won’t reach the other person until the undo payment timeframe had passed, so someone shouldn’t be able to do this.
That’s completely fair, and you’ve used logic and reason to arrive at that judgement.
You just can’t expect those crappy online news sites to do the same before they run a headline like ‘Warning Sent to Facebook Marketplace Sellers After Bank Allows Buyers to UNDO Payments’.
