Ever feel like payday can’t come soon enough? Got too much month for your money? Or just fancy getting your hands on your salary a day before your colleagues?

We’re always looking for new ways to give you more control over your money. So we’ve built a new feature called Get Paid Early. And – you guessed it – it lets you get your hands on your salary or student loan a day earlier than usual. There’s no cost and no hassle. Just more time with your money.

Sounds like sorcery. How does it work?

Most salaries and student loans come into Monzo accounts through a system called Bacs (short for Bank Automated Clearing System). The Bacs system is a bit outdated, so from the day your employer sends you the money, it usually takes three days to reach your account. We wanted to see if we could speed things up.

By 4pm on the day before your money is due to arrive, the receiving bank you get paid into is confident the money will arrive because they can see it coming in the system. So all banks could technically advance you the money at this point. Most banks choose not to, but we thought it was fair to give you the choice to get your money sooner.

How do I use Get Paid Early?

You’ll need to get your salary paid directly into your Monzo bank account, which you can do a couple of ways via our app. Also you’ll need to be paid by Bacs – most people are, but check with your employer if you’re not sure! (All Student Loan Company payments come by Bacs, so you’re all set if you’re a student.)

If you’re on your phone, open this pre-filled email to send to your employer. Otherwise head into your app and tap ‘Add money’ on the homescreen.

If you're already paid into your Monzo account, you don't need to do anything. We'll just send you a notification the day before you're due to be paid (or on Friday if you're paid on a Monday!)

Get to know your money better

Getting paid directly into Monzo helps you control and manage your spending by pulling your bills and day-to-day spending under one roof. It’s like having three bank accounts in one:

Get instant notifications when you spend, and set budgets for things like groceries and going out.

Set money aside for bills and other obligations in Pots, and we’ll warn you if any upcoming Direct Debits are going to be higher than normal (so no nasty surprises).

Pay yourself first by putting money into interest-earning Savings Pots, and see the interest accruing daily.

Let us know what you think!

We’d love to hear your feedback on how it feels to get paid early. What else could we be doing to make Monzo the perfect home for your money?

(A heads up: we can stop offering get paid early, or change this service, at any time.)