The police tell us to. It made me feel upset and angry because that's the only money I had for my daughter, she says. They usually cannot legally tell you this - it's literally the law they would break if they took pity on you and told you. Wide margin winner of his sole point-to-point for Cormac Farrell in November was overturned at long odds-on in this event last year, albeit finishing a clear second to the now very useful 138-rated hurdler Three Card Brag; 20-1 shot for the Cheltenham Bumper . Neither the refund from the chargeback nor the refund from the merchant closed my Flex agreement. Ive asked Monzo to take a look at this via chat, but were at 9 days now and Im still yet to get a response from a specialist. In Section 14 our terms and conditions, we explain some general reasons we may close or block an account. Bet 10* & Get 30* in Free Bets. The account would be frozen until the concern was resolved. With its neon orange card and well-designed app, plus the ability to advance your wage before pay day, the company is popular among younger consumers. Our Financial Services Register number is 730427. Theres a lot of anger towards the otherwise quite popular service. If you have any issues with the in-app flow and provide your defund details by email well aim to transfer it within 7 working days for UK accounts (2-3 weeks for international payments). I can't get in touch with Monzo since I my account was deleted and I can't login anymore. I havent moved country, or moved address, or done any transactions i havent done many times over for months, just your normal wages coming in and amazon type transactions. For legal reasons they won't be able to discuss it with you whilst the case is ongoing. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. If weve blocked or closed your account, its very likely we wont be allowed to tell you specifically why. So of course Im going to keep the money in a pot until its due back. OP will have done something or some flag for it. Ive had an account with monzo since 2018 and used it regularly for years. Monzo closed my account but I have a loan with them. The start-up has done so well that, in 2019 after a new round of funding in the US, it was valued at around 2 billion. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. How is this fair? In line with our terms and conditions, we can close an account by giving two months notice. I cancelled a amazon flex order and money was refunded instantly to my account and the flex plan closed automatically with "paid off " status , and the 1st payment I made was transferred back to my current account automatically , Good to know, thank you (hadnt spotted your post as I just looked at thread titles and not used to this system ). This increase in dissatisfied Monzo customers may just be proportional to the growth of the bank (it had 2 million users in June 2019; in September 2019 it reported to have hit 3 million), or it may indicate issues linked with such rapid expansion. been abusive to anyone at Monzo or a member of our community. I dont understand your point? Harford says that he struggled to get information from Monzo after his account was frozen. I can imagine TS Anil or Anne doing the draw themselves at the Monday morning staff stand-up, Powered by Discourse, best viewed with JavaScript enabled, Monzo giving two months notice of account closures, Just received a mail that Monzo are closing my account, Devastated About Account Closure after 2 years. It was here that Harford found the advice he needed to get his money back. Monzo Bank Limited is a company registered in England and Wales (No. A spokesperson for the Financial Ombudsman Service told VICE: If youre unhappy with your provider [bank], get in touch with the Financial Ombudsman Service and well see if we can help.. But your point was Monzo legally cannot tell you why. which is not true unless its AML or fraud. In response, HSBC said in a statement: 'A customer who has closed their credit card would be entitled to any refunds that are . If that was the case they would not have two months they would be cut off immediately. In the end, it took over four weeks for Harford to receive his money back. The max refund is a single 30 free bet and will be applied to your account with 72 hours of qualifying bet settlement. According to Resolver, an independent online complaints service, more up-to-date Monzo complaint figures may be even higher. It's likely that your old Monzo account has a positive balance Please log in and verify your identity by recording a short video and taking a photo of one of your ID documents Managers have more impact on our mental health than doctors and therapists! If were able to confirm its definitely you, well unblock your account. Ive posted about this previously. Last year, hundreds of Monzo customers complained that their accounts has been closed or frozen without explanation. There isnt a tombola with all our accounts on and they pull one out every Monday morning and that person gets their account closed. Information about our Personal Current Account Services, Bring your account balance to 0 (this includes withdrawing the balance of your Pots), Tap on your profile icon (if you cant see that, swipe down on your card). If you need to send an item back to get your refund, the 14 days will only begin once the merchant receives the item. It's all the same: I'm sorry for the inconvenience, we don't have a time frame, we can't tell you why. I've told them I have a baby. "But for others, it's been detrimental to their daily lives.. You might not understand why its happened, and feel powerless to change things. Criminals successfully stole 1.2bn from people in the UK in 2019 alone. Almost 3,500 people have joined a private Facebook group titled "Monzo stole our money". VICE viewed the complaints filed by Harford, as well as emails and messages between him and Monzos customer service team and a letter of correspondence from Monzo, which confirmed the 25 compensation for the delay in returning his money. But the biggest issue i have is they said 2 months. Recently the "Specialist" support team contacted me saying I have been found to have commited fraud through LocalBitcoins and other cryptocurrency platforms (which is completely untrue seeing as I have stolen no one's money and I only use LBC). Refunds take up to 14 days from when the merchant processes it. I then got an email from them saying it was going to take two to four weeks. New Customers only. We have robust processes and controls in place to flag any unusual activity in Monzo accounts.. If our review finds theres a perfectly reasonable, legal explanation for the activity, we of course immediately unblock the account and apologise. I had my bank account closed since Late October, I was awaiting a refund from Adidas For around 800. Get help'. I was relying on that money, and I was stressed and anxious because I couldn't sort anything out, and I don't have any family members close. Which is a bit anxiety inducing given that from the customer perspective theres no identifiable reason for it. Thats not an acceptable risk for us. 09446231). We don't know what and we'll probably never know. If you do not, your paycheck may go to the bank, but you will not be able to access the funds. This process is the same as any other High St banks. Only 29 percent of these complaints were resolved in the consumers favour. Junho 11, 2022; police story: season 2 . Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Before this time frame, it received fewer than 30 complaints in a six-month period. gold coast shark attack video; giant schnauzer service dog for sale But if theyve checked it and given 2 months notice, thats the end of it. Having a wage deposited into it and its all been fine. I wondered if it would have gone tot he alternative account details I gave for them to transfer my remaining balance but apparently now. after contacting monzo support they told me i will be receiving the money left in the account all i had to do is send them my new bank details, and it would take 2-4 weeks it's about 3 months on now and i still haven't received anything what can i do? This only happens very rarely, and most customers will never even know its happening. Thats to do with fraud and AML law - if they are giving him two months its not that. It happened just over a week ago when she was shopping. This needs to be sorted out now. Unfortunately were all customers here so wont be able to help; but if its not an immediate closure its likely that you just no longer fit the customer profile theyre looking for for one reason or another. That blog link doesnt apply to this customer, it only applies to those who have had their accounts closed immediately. To protect peoples money and stop criminals using Monzo for illegal activities, well block accounts when we suspect this is happening. Heres some more information about why this sometimes happens. This Christmas Ive used the Flex system to get a small cash advance by splitting a payment over 12 payments with Curve Credit and then again with Monzo Flex. Form & Verdict. VICE reached out to the Financial Ombudsman Service, the body responsible for financial complaints in the UK. If i was committing fraud (which im not and never have) and they did this theyre essentially saying go ahead, you got 2 months longer to keep committing fraud, and well shut you down then wouldnt make any sense even when you think about it. Why have I received an email about a refund from my closed account? There are two ways you can buy with Flex. If our fraud systems believe someone else may have access to your account, we block the account to protect you and your money. So what do I do? Flex after If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. Monzo legally cannot tell you why. But blocking or closing accounts is something all banks have to do sometimes, to meet their legal and regulatory obligations, in line with their terms and conditions, and to help fight against financial crime. Powered by Discourse, best viewed with JavaScript enabled, Introducing Monzo Flex a better way to pay later. But we can broadly explain when we might do it: We spot unusual activity. There isnt a tombola with all our accounts on and they pull one out every Monday morning and that person gets their account closed. Need it sooner? He lost 4,000, saved for his son's enrolment at university in September, after being called by a fraudster from a number that matched Monzo's, flagging suspicious activity on his account. Closing accounts can help fight financial crime Financial crime is a serious problem across society. Only like you said, if it was fraud related. Monzo Bank Limited is a company registered in England and Wales (No. Your first step should be to contact the merchant and see if it has bounced back. very strange situation here. Getting your car rental or hotel deposit refund. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. I am a victim of fraud here, I cannot even afford to take this to court. About a day or two later, I got a message from Monzo saying I had to source alternative banking. Harford's Monzo account had been closed. Place your first bet, if it loses we will refund your first bet stake as a free bet. Monzo can not (by law) tell the customer this is why their account has been suspended. If a fraud closure is immediate then its clearly something less serious but also something Monzo dont want to be a part of. 4 Likes ndrw (Monzo is better than sliced bread) 15 February 2021 11:12 20 Revels: Monzo Bank Limited is a company registered in England and Wales (No. Last run: 364 days. What's going on? I just started to get tired of it, and that's when I came across the Facebook group.. Danielle Richardson. (Monzo Closed Account Without Explanation). If youve received an email letting you know that youve received a refund and asking you to login to the app, please download the Monzo app and follow the instructions. A day later I end up having payments blocked on my account suddenly and then within an hour my account was shutdown without warning or reason, stating that, "The outstanding balance of your account have been returned to their originating source". New comments cannot be posted and votes cannot be cast. New Customers only. Information about our Personal Current Account Services, Please log in and verify your identity by recording a short video and taking a photo of one of your ID documents, Once weve verified you, youll be able to give us the details of another UK account for us to forward the money to. In a private Facebook group called Monzo stole my money, which now has over 1,300 members, many are furious that their accounts have been frozen without notice, claiming that the company is being unclear about where their money has gone, or when it will be returned. Thats kinda worrying if what you say is true (I dont doubt that it is) but as a average user with no shadyness in my life like 99.9% of account holders, we could all be culled off for no apparent reason. Refunds take up to 14 days from when the merchant processes it. It might take a while, but you should get your money back in the end. If you're expecting a deposit refund from a car rental company or hotel, it'll take around 30 days. They're saying they can only refund to the original card Any idea what I'm supposed to do here? Theres more here about two ways to pay. Sometimes blocking or closing accounts is one of the ways we do this. Existing customers can get help via the app. I continued using my account saying I am willing to provide anything they need to get this case disproven but they asked for nothing. You are assuming Monzo have frozen your account due to the fact that you're dealing in crypto, but everything you've told us suggests they're treating it as a regular fraud concern. Have you stopped being a resident in the UK? My Monzo account was blocked for no reason given, I gave alternative details fro my funds to be transferred but ~I received a refund into the Monzo account a month or two later. Weve taken the unfortunate decision to close yours with immediate effect., The email also said that Hopkins funds will be returned to the source., According to Monzos Terms and Conditions, the company reserves the right to close an account at any time, particularly if it believes fraudulent actions are taking place. Im afraid youll just have to take your money and pick another bank. Refunds take up to 14 days from when the merchant processes it. To cut a long story short, I had current account and a joint account from Monzo and then out of the blue they froze and then proceeded to close both of my accounts, which is fine I can go back to my old bank, but I had a loan with monzo and they haven't even mentioned it during any . Troubleshooting declined contactless card payment, Card payment declined but you've still been charged, Information about our Personal Current Account Services, Proof of the original receipt (screenshot or photo of paper receipt), Proof you spoke to the merchant (screenshot of the email you sent them), Optional: proof of cancellation (screenshot if you tried to cancel the order). In this case, where a customer has been given two months before the account being closing, it means that theyve done nothing wrong by law, but Monzo have simply (for whatever reason) decided they no longer want them as a customer. We contacted Monzo about Liam's case and it explained that it initially refused to refund him due to inaccuracies in his story. This can happen as part of a financial crime investigation, and well co-operate with any requests from law enforcement. If you decide you want to re-open your account at a later date you will need to wait at least 30 days from the date of closure, you wont be able to use the Current Account Switch Service to change to another bank and there are no guarantees that we'll be able to re-open your account for you. Bet 10* & Get 30* in Free Bets. If you follow the in-app flow, the money should arrive instantly but can take up to two hours. Criminals successfully stole 1.2bn from people in the UK in 2019 alone, Information about our Personal Current Account Services. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. I just didn't know what to do., When Hopkins contacted Monzo again, a customer service employee asked her if she had friends or family who could help: I said no, and I shouldn't need to [borrow money] because I have my own money., Hopkins received an email response from Monzo on the same day that VICE approached the company for comment.
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