What to do about unsettled transactions?


(Damien) #21

Yes I am worried about it as well. Seems like a lot of people are having this issue

Has the policy changed or is there something wrong?


(Damien) #22

Monzo have just updated the information page for these transactions. Seems another bank a lot of companies use has had an issue.


(Emma (still not the app)) #23

That makes more sense. Has anything been said about when the banks will be collecting? Worried about people who were paying credit cards


(Damien) #24

I don’t think the credit cards will be a problem because they clearly think they have the money


(Emma (still not the app)) #25

I’ll post this update from the app help section


#26

This is a very new feature :slight_smile:


#27

Does it mean I can buy stuff for 1£ and get it refunded, then repeat the process infinitely at Monzo’s expense?

POUNDLAND HERE I COME :smiling_imp::joy::joy::joy:


#28

Aha, no. There are rules surrounding it and it won’t be available to all transactions.


(Toby Toller) #29

Just revisiting this now that the dust has settled:

Amex have now taken back all the money which was temporarily refunded :pensive:

Although I have been able to exclude the ‘second’ time they removed from my Monzo, I cannot exclude the incoming from when it was returned to my account temporarily.

This means whichever category I assign those incomings to, shows as being in credit for my summary period, even though it has netted out.

If I don’t exclude the outgoing, then my summary wheel thinks I’m spending far too quickly based on the higher spend level.

Long winded, but what I’m trying to say is it would be great if we could exclude incoming payments from Summary the same way we can exclude outgoing payments.

Edit: the original payment was in a previous summary period, the refund and the second outgoing came into a new summary period


(system) closed #30

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