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.
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.
I mean, it's been in production for years, has a cap of £20k and I'm pretty sure the design of BACS means it's very difficult to recall a transaction after the 4pm time when the feature becomes available. Simon is probably in a very good position to know how often that sort of thing happened, if ever.
I'm pretty happy with them offering this based on my understanding of BACS, as a shareholder.
I would guess that payroll credits are the second most-reliable category in the ocean of ACH transactions, right after US Treasury payments.
How black would this swan need to be to blow up this stability?