How Monzo's 'Get Paid Early' works

Monzo lets you get your salary one business day early.

Here is how it works: When your salary is sent, it shows as a pending transaction in your Monzo account. You can then get the money one business day before it is officially paid.

How does Monzo do this?

This happens because salaries are processed through BACS (a regulated payment system for money transfers in the UK). There are three types of bank transfers in the UK: BACS, CHAPS, and Faster Payments.

How do Stream process salaries? Stream processes salaries differently: Salaries are sent using Faster Payments instead of BACS. Because of this, your salary will not show as a pending transaction in your bank account, so you cannot get it early.

What does this mean for you? You will still get paid on your payday as usual. However, if you use Stream, you will not get early access to your salary in the same way. That said, Stream offers a special benefit: you can transfer your wages anytime before payday. Instead of showing as "pending," your wages are available to you until payday.