Who needs payslips?! See your salary in Monzo before it gets paid

Ahh, no you have to wait until it actually goes in the next day. Monzo get informed that the money is coming in a day in advance.

It’s probably a bad idea to encourage people to not check their pay slips… So many other things to check than just the net pay

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It’s more about convenience to know it’s definitely on its way, I’m sure people will still check them, that do.

I know a few people that never even open them :see_no_evil:

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This is me :speak_no_evil:

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This was one few redeeming features of HSBC who’ve had this for donkey’s

Knowing what was coming in AND going out before it happened.

Nice to see it on monzo

I always thought most people’s pay slips showed the payment date? Mine certainly does

Nope mine doesn’t. Just the pay period but the last day doesn’t reflect payment date

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This is one of the great things that are great about Monzo.
We all look forward to pay day — I look forward to payday more each month since going #fullmonzo.

:raised_back_of_hand:

Same!

This is cruel. My pay day is the 28th but it’s a bank holiday weekend so I can see the pay I’ll get but have to sit and look at my near-zero balance for the whole weekend :joy:

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Same here…I am due Tuesday…but can see it today

It’s terrible isn’t it?! I wonder if there is some way for them to make it so it only shows the day before pay day. If I wanted to know that badly today, I could look at my payslip.

I’ve now got bills showing that are due to go out in 4 days time. Perhaps the ability to manually clear the notifications for upcoming income/expenses would be a good idea?

All banks which participate in Bacs know what is due to credit/debit their customers account the day before :crystal_ball::mage:

https://www.bacs.co.uk/Services/bacsschemes/gettingstarted/Pages/BacsDirectCredit.aspx

Bacs processing cycle

Input - day 1
Input day is the latest day a business user/bureau may submit a payment file to Bacs for a processing cycle. Payment files must be transmitted to Bacs between 07.00 and 22.30.

Processing - day 2
Files are delivered to the recipient banks which then process each payment.

Entry - day 3
Payments are simultaneously credited to the recipients’ accounts and debited from your account.

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Another example of Monzo ripping up the legacy rule book and redesigning things to delight.

At my workplace no one really has a clue when payday is this month due it landing around bank holiday and the weekend. Normally just wait and see after it lands.

Now only I know as Monzo says it’s in 4 days. This is verging on witchcraft! :woman_mage:

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I suspect the 4 days is only because of the bank holiday because the payment files will have been sent earlier than normal to ensure collection after the BH

Some of mine also showing

From that flow Monzo can skip the legacy “we only run a batch once per day” part of the process and potentially apply credits as soon as BACS lets them know

That’s because there appears to be no way a cancellation can occur as with a direct debit

Yes, days 1, 2 and 3 in my example exclude weekends and bank holidays.

Really great idea, love it

Screenshot_20180824-094032
All I can say is what an excellent bank this is…
I am ment to get some money in on Tuesday and its showing it as due in 4 days time…it’s probably showing it today as Monday is bank holiday.
And it’s not even a bacs payment…it’s a bgc payment from DWP
Love monzo

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