When are Direct Debits collected?

So I noticed this morning that Amex claim my Direct Debit has been collected, however money has not been taken out of my Monzo Account yet… is that normal? I would have expected exactly the opposite behavior…

:credit_card: :confused:

This is normal, see my thread regarding the issue the other week :slight_smile:

Amex are at fault here for presuming a day or two early that they will be paid. Silly system on their end if you ask me!

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Ah I see… Thanks Jack!

Direct debits are a legacy batch process that updates once a day - creditors send the requests to BACS which batches them up at midnight and makes them available the following day to banks (Monzo download and process this file at 2 or 3 am).

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That makes sense - so Amex created a request to BACS today, they will generate a list for Monzo later on today and Monzo is going to process it at 2am. As COPs have written in their response to Jack it seems Amex have been a bit over enthusiastic in their “thank you for your payement” message :smile:

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Amex actually created one, at the latest, yesterday (could be much earlier than that though).

It was received by Monzo today at night, will be applied to your account tomorrow night, and the result will be submitted to BACS automatically, for Amex to collect the day after starting from midnight.


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