Is there a known time and/or order to scheduled payments? If I want to setup a scheduled transfer from my joint account to a personal savings pot (I don’t think that is allowed atm) and so instead I setup two separate scheduled transfers for the same amount (#1 = Joint Current → Personal Current, #2 = Personal Current → Personal Savings Pot) do I need to schedule #2 the day after #1? The amount is large (£950) so I don’t want to risk #2 happening before #1…
Monzo’s processing times operate in an ish basis. So whilst setting them both on the same day could work sometimes, I wouldn’t rely on it, unless your personal account has an overdraft large enough to facilitate the second transfer Incase it triggers before the first.
In which order would you consider to be most logical?
It doesn’t matter what’s logical. Monzo processes standing orders and scheduled pot transfers at the same time. 2am GMT. Due to the ish nature, sometimes transfer #1 would be processed first and the chain will go off without a hitch. But sometimes transfer #2 would be initiated first and might fail as a result if there’s not enough funds or an overdraft.
Unless you can facilitate transfer #2 without relying on the funds being there from transfer #1 first, you’ll need to do transfer #2 the day after (or manually move it)
It was an attempt at humour based on his username… I’ll get my coat.
Ah! Star treck?
I think that’s one thing where I buck the stereotype of my clique. Never watched it, never will.
Gotcha, that makes sense, thanks!