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0 pointsquesera1y ago0 comments

This thread is "completely unrelated to this blog post" and your previous comment was responding to comments about the US ACH network.

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lol7681y ago

Right, but it's talking about "Get paid early" - and in the context of this particular post that's a specific Monzo feature that has absolutely nothing to do with ACH.

Do US fintechs offer something similar? Perhaps, but I bet it works pretty differently to BACS where the bank already knows about the money transfer.

queseraOP1y ago

Yes, "get paid early" is a feature that US fintechs and banks offer, and have for years. So in the context of this subthread, it's all about ACH.

The feature is based on the predictable pattern of payroll direct deposits, and/or a pre-settlement view into the ACH transfers for the day. The latter sounds like what you are describing for BACS, but I don't know the UK details.

j / k navigate · click thread line to collapse

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lol7681y ago

Right, but it's talking about "Get paid early" - and in the context of this particular post that's a specific Monzo feature that has absolutely nothing to do with ACH.

Do US fintechs offer something similar? Perhaps, but I bet it works pretty differently to BACS where the bank already knows about the money transfer.

queseraOP1y ago

Yes, "get paid early" is a feature that US fintechs and banks offer, and have for years. So in the context of this subthread, it's all about ACH.

j / k navigate · click thread line to collapse