Variable Scheduled Payments

Not sure if this is a thing, but might be quite nice with scheduled payments to be able to refine the amount of the next payment. E.g. phone or credit card bill which might vary month to month, fairly significantly.

Can you go into a bit more detail on this one? I’d love to hear more…

How do you envision this working?

Once something appears in committed spending you could click on it to edit the amount if you know it’s going to be different.


E.g. So I have my credit card coming out of my bank. Statement date 22nd, payment around 7th of following month. I get paid on 26th. The amount varies significantly.

So I flag my credit card payment in Monzo as a scheduled payment to repeat monthly on 7th.

Monzo shows an estimate of my committed spend, but on 22nd I know how much of my pay check I need to withhold that month to pay my bill (say £500)

I then go to my committed spending where there is a ghost version of my next payment, which I can then say ‘Hey, this is £500’ which then shows my real committed spending to consider with my next pay check.

Admittedly, I haven’t used this functionality in its current form very much, but I feel like I could get some use out of this. Can’t speak for other users! :grinning:

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Oh, is this functionality already there? Have I Missed it?

No, that was just a very rough guess at how something like this could work. Seems like a sensible idea to me!

Obviously the best way to do this would be to link your external credit account with Monzo, I believe this is a fairly distant future goal though.

I have subscriptions to a few cloud service providers, the bill for these is based on usage so varies every month. When I try and set these up as scheduled payments if the debit does not match it doesn’t seem to group them.

I thought this was an issue I could resolve by marking each payment as a scheduled payment but all that got me was a page full of scheduled payments (one for every month I was billed previously).

So currently this feature cannot be used for any payment that varies by even a penny. I think it’s unrealistic to say Monzo could integrate with all of these so there should be a flag allowing you to specify a payment is allowed to vary.

In my case the matching is not that hard to do: there is only one AWS debit per month.

Hopefully this is addressed soon, at least half of my monthly recurring payments are like this.

Yeah, I have a few like this. A credit card direct debit, which will need proper integration to fix.

And a Smarty phone bill which varies from £5-£15 depending on how much data I use. I’d love to be able to set an expected range for ones like this with the max amount being the estimated amount used in Committed Spending.