How Monzo's 'Get Paid Early' works

Monzo lets you access your salary one business day early. Here's how it works:

• When your salary is sent, it shows as a pending transaction in your Monzo account.
• You can then access the money a business day before it's officially paid.

How does Monzo do this?

This is because salaries are processed via BACS (a regulated payment system that allows people and businesses to transfer money in the UK). 

There are three types of bank transfers in the UK: BACS, CHAPS, and Faster Payments.

How do Financial Wellbeing process salaries?

Financial Wellbeing processes salaries differently:

• Salaries are sent using Faster Payments instead of BACS.
• Because of this, your salary won’t show as a pending transaction in your bank account, so you can’t access it early.

What does this mean for you?

You’ll still be paid on your payday as usual. However, if you use Financial Wellbeing, you won’t get early access to your salary in the same way.

That said, Financial Wellbeing offers a unique benefit: you can stream your wages anytime before payday. Instead of showing as "pending," your wages are available to you up until payday.