Open a Monese current account instantly and set up a Direct Debit to cover your regular payments.
While Monese prides itself on continually improving its app with the sort of advanced features regular banks aren’t interested in providing its customers, it’s worth mentioning that we also support regular features commonly associated with traditional banks - and this includes Direct Debits.
Direct Debits have been used as a standard means of automating payments to service and utility providers in the UK for years. This is because they present a number of advantages over making regular one-off payments.
Most people set up their Direct Debits as a means to save time and effort - in fact it’s as easy as opening a Monese current account! - and it’s one less thing to worry about when your electricity bill is paid, on time, in managed instalments. In this way, Direct Debits potentially save you money by avoiding any late fees on bills you might otherwise forget to pay.
Obviously this benefits vendors as well, which is why many incentivise the use of this payment method by applying discounts to your billing.
Not only are Direct Debits safe and secure - they’re also protected by a guarantee that reimburses any incorrect payments right back to your account.
Dependent on whether they support Direct Debits as a payment method (most suppliers in the UK do), you can set one up by simply providing them with your Monese account number and sort code. Request the date you’d like the payment to go out on and your service or goods provider will do the rest.
It should be mentioned that letting these automated payments overrun on old subscriptions for gym memberships or dating apps can be costly. Many waste thousands of pounds a year paying for things they don't need or never use.
Happily Monese allows you to review and manage all your Direct Debits in-app, giving you complete control with the option to cancel them at the touch of a button. These payments also appear in the app’s transaction list along with all your other outgoings.
So, once you’ve signed up to an instant Monese current account, it’s a great idea to make a list of all your utility bills and subscription services. Then it’s just a case of setting a Direct Debit up for each, so as to enjoy more hassle-free way of paying your bills on time.