Digital-only bank Monzo has built a new feature
Digital-only bank Monzo has built a new feature called Get Paid Early. It lets customers receive their salary or student loan a day earlier than usual, for free.
To use the new feature, a customer needs to get their salary paid directly into their Monzo bank account via the app. Also, they’ll need to be paid by Bacs (most people are).
If a customer is already paid into their Monzo account, they don’t need to do anything. The bank will notify them the day before they’re due to be paid (or on Friday if they’re paid on a Monday).