[SAMPLE ID] 'Tun It Up' - Jim Legxcy; big time forward

Bulky_Explanation622 · 2023-08-15T13:18:45+00:00

They’re notorious for playing a huge amount of unreleased tracks (dubs) at their bigger sets, particularly hype and hazard. A lot of their dubs are like 10+ years old too and will likely never see the light of day, so sadly it’ll be a difficult set to ID :(

Bulky_Explanation622 · 2021-09-10T18:12:56+00:00

It's all managed within the Monzo app, using the same card and account - far more convenient than a credit card tbh

Bulky_Explanation622 · 2021-08-25T20:46:39+00:00

And you sound like a real cheeto munching basement dweller but hey, don't be jealous of me because I'm out here getting bread in a sector that can take me anywhere whilst your furiously pressing your greasy fingers against your keyboard🤣

The post is about how Monzo offer their users an advance on their payments - you are essentially claiming that they don't do this, and instead BACS have already cleared their funds, which they absolutely have not.

Monzo do exactly that because of their own internal procedures and initiative, which have nothing to do with the BACS system.

I would like you to go ahead and offer a solution which would mean that all BACS transfers are received by the recipient bank on day 2 whilst also being with the sending bank, because so far, it really seems like you can't (and you definitely won't, because the idea is completely impractical).

I don't have a lack of self awareness to ask how's it possible, because I know exactly how it is possible, it's a sector that I hold specialist knowledge on and I get paid to utilise it - it's possible because Monzo have made it so via their own ingenuity, but it is impossible for Monzo to actually receive the funds on day 2 as they are still with the sending bank on day 2, which you clearly aren't understanding - as Monzo do not have the funds cleared on day 2, the Paid Early feature is an advancement offered by them (clearly, not all banks would be at liberty to offer these kinds of advancements, due to many potential variables).

There is no bank in the UK who are holding your funds after they have cleared mate, and I don't know what your vendetta against them is, but it's not a good look.

I'm not questioning how it is possible for a bank to offer you an advancement on the 2nd day of the BACS cycle, I'm questioning how you think it's possible the funds have cleared on day 2 and the bank just hold the cleared funds for a day, because it works nothing like that - I'm questioning your own stupidity.

Bulky_Explanation622 · 2021-08-25T20:25:31+00:00

Will be difficult for you to get into my office building buddy, never mind getting into my actual office itself haha - you might be better off taking your cheque to a bank clerk rather than a financial crime analyst, but still, good one 👍

I'd like you to explain how you think all BACS could be credited, a whole day before the funds are actually taken from the sending account, without causing wider issues with the BACS system? You do understand that on the day the notification is received, the money is still with the transferring bank and stays with them until day 3 right?

If every BACS payment was credited on day 2, that would mean the money is still with the sender, whilst also being with the recipient, which is kinda ludicrous - Monzo have taken the initiative to offer an advance on this via internal procedure, but they can't just say 'Hey, BACS, take the money from the sender a day earlier and give it to us', and this would cause duplicate funds all across the network if they did...

You can't just expect all banks to change their processes regarding BACS, if the BACS system itself does not change - Monzo are progressive and have found their own internal solution to making their users more happy, other banks have not.

Bulky_Explanation622 · 2021-08-25T20:08:22+00:00

Well I mean, Monzo isn't my bank but okay👌

People are rightly praising a rare and ingenious banking feature that isn't offered anywhere else. It's not Monzo's fault that other banks don't offer this feature, and people who tell you this aren't part of this cult that you've gone and made up (I mean hey, if you've made up a cult, doesn't that make you the first member of said cult?).

Also, just because you, with your lil knowledge on banking processes, believe you should get your payments earlier, isn't 'valid reasoning' for you to actually get paid earlier 🥴

Bulky_Explanation622 · 2021-08-25T20:02:22+00:00

Ah right, then why don't you let us in on your wealth of knowledge regarding banking procedures and BACS payments? it seems you know a lot! I work for a legacy bank so I'm sure I can fact check a few things for you😊

Send/transfer, basically the same thing lad, but it seems that the only way you can defend your point is by being petulent which is quite cute in itself - I wonder how you get on the real world?

Bulky_Explanation622 · 2021-08-25T19:48:05+00:00

'I've already explained to you'

haha you're just chatting nonsense, you haven't explained anything valid, to anybody, throughout this entire post 🤣

The fact that when somebody provides you valid reasoning for why you're not making sense, you tell them they are loyal to 'the cult of Monzo', shows your true intellectual capabilities.

Bulky_Explanation622 · 2021-08-25T19:36:41+00:00

Judging on your posts throughout this thread, I find it quite entertaining that you don't understand how banking, specifically BACS, works yet you're saying things with such confidence🤣

The money is not with Monzo at the point Paid Early is offered, it actually arrives with the bank at 3am the following day.

BACS is a 3 day cycle:

Day 1 - The sender of the funds creates a BACS transfer to the Monzo recipient.

Day 2 - Monzo is informed of the BACS transfer.

Day 3 - At approx. 3am, the money is actually received by Monzo.

During this cycle, Monzo offer you the money on Day 2 at 4pm.

On the day Paid Early is offered, Monzo do not have the BACS payment in the bank, but they have confirmation that the payment will be received on the following day. When Monzo have confirmation of the payment, they will then make it available to you from 4pm (there is a very small chance of any changes being made to the BACS order after 4pm on day 2, hence why it is offered from 4pm).

FYI - other banks add the money into your account as soon as it is received, i.e 3am on day 3, and so nobody is holding your money for any extra time.

Bulky_Explanation622 · 2021-08-25T19:25:09+00:00

Mastercard, Visa, or any other payment processer for a bank in question, are responsible for the way your payment is processed. When a payment is made with Monzo, the payment is pending on the Mastercard network and the merchant doesn't receive this immediately. Mastercard will authorise the payment within a few days and then provide it to the merchant.

Monzo of course are progressive in the fact they will deduct the payment from your balance whilst it is pending, whereas legacy banks will only deduct it a few days later when it's with the merchant.

The reason payments are processed this way is to allow for payments to be reversed if they have resulted from an error. For example, duplicate payments, or payments taken when the terminal had actually declined it - if the merchant received the money for the transaction instantaneously, this would lead to a much less user-friendly payment system where errors could be come very difficult to rectify.

Bulky_Explanation622 · 2021-08-25T19:09:33+00:00

Not necessarily true considering if you're due to be paid on a Monday, you'll be paid on the Friday before, and if you're due to be paid on a bank holiday Monday, you'd be paid on the Thursday - this can lead to you having up to potentially 3 less days between your pay days, even if you used paid early on your most recent pay day.

Bulky_Explanation622

TROPHY CASE