Surely they need to have some sort of valid reason though right? 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. Do drop Monzo an email to confirm what will happen, though. Need it sooner? Or will the end up in my main account or something else? Managers have more impact on our mental health than doctors and therapists! And we can close an account immediately in some situations, like if we think youve broken the law or breached our terms and conditions. The max refund is a single 30 free bet and will be applied to your account with 72 hours of qualifying bet settlement. I genuinely thought it was just an issue with their system, Harford tells me over the phone. 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. Which is a bit anxiety inducing given that from the customer perspective theres no identifiable reason for it. I am being treated as a fraudster without any due process. Monzo is allergic to cryptocurrency fraud risk, so they will sometimes close the account for that. if someone commits fraud theyd shut the bank account down immediately though (or so id assume as it would be a legal risk). Monzo Bank Limited is a company registered in England and Wales (No. I went to transfer the money over to my other account, just in case the card wasn't working [but] it didn't let me transfer it., I was in the middle of the shopping centre trying to text Monzo, and they texted me back and said my account had been frozen, and they couldn't tell me why or when it was going to unfreeze, she continues. OP will have done something or some flag for it. Form: 2- BF. Otherwise criminals would quickly figure out how to get around them! been abusive to anyone at Monzo or a member of our community. It's stressing me out., Hopkins was stuck in the middle of a shopping centre with no money to buy food. Monzo Bank Ltd (/ m n z o /), is an online bank based in the United Kingdom. Criminals successfully stole 1.2bn from people in the UK in 2019 alone. There are some common signs that someones using an account for criminal activity. Mr Fisher was angry that. So obviously it cant be a security risk or a fraud risk issue as they still are allowing me to use their service for 2 months, right? 4 Likes ndrw (Monzo is better than sliced bread) 15 February 2021 11:12 20 Revels: 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. What's going on? I just started to get tired of it, and that's when I came across the Facebook group.. This needs to be sorted out now. The call just cuts off after 10 minutes! Monzo, the banking start-up loved by millennials, has over three million users. During those weeks I kept contacting Monzo and going, What's going on? So of course Im going to keep the money in a pot until its due back. Neither the refund from the chargeback nor the refund from the merchant closed my Flex agreement. I've had an inconvenience, which is frustrating," says Harford. Monzo Bank Limited is a company registered in England and Wales (No. Monzo Bank Limited is a company registered in England and Wales (No. I went to the shop to buy my daughter some food, and my card got declined, she explains over the phone. 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 . Do other banks pull stuff like this? However, it's not all rave reviews. In response to a 2019 Watchdog investigation into Monzos freezing of peoples accounts, the bank told the BBC: Typically, if we discover that activity is not suspicious, an account that has been frozen is reactivated in ten minutes. So in my mind, Im a Premium customer and I get paid interest on my balance. Your first step should be to contact the merchant and see if it has bounced back. That blog link doesnt apply to this customer, it only applies to those who have had their accounts closed immediately. OP will have had his account flagged for something. (Monzo Closed Account Without Explanation). Powered by Discourse, best viewed with JavaScript enabled, Introducing Monzo Flex a better way to pay later. Some users are accusing Monzo of. Ive posted about this previously. There are two ways you can buy with Flex. You might not understand why its happened, and feel powerless to change things. I contacted Monzo, and they told me they had nothing at this time. This can be as simple as phoning up with a story about hardship, posting one on social media or taking one to the press. Denied for all further applications. 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 So what do I do? It was a refund from Ticketmaster in October they also did not contact me to let me know but they are saying that it was refunded and I have to wait 15 days for them to find out where it went. Monzo closed my account but I have a loan with them. Sadly its common for criminals to try and get into their accounts by putting pressure on us, and sometimes getting other people to join in too. 09446231). There isnt a tombola with all our accounts on and they pull one out every Monday morning and that person gets their account closed. However, its not all rave reviews. If youve been told by the retailer that theyve sent you a refund, its always worth checking the instalment plan to see if some of the balance has been paid-off, and whether a smaller amount has come back to your current account at the same time. We can close your account by giving you at least two months notice. I still live in the UK (havent left), lived here all my life so have a passport, no legal troubles etc. Its unlikely to happen to 99.9% of customers. Free Bets are paid as Bet Credits. 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. Taints my faith in them somewhat. "The prevention of financial crime is an issue that affects the entire. Last year, hundreds of Monzo customers complained that their accounts has been closed or frozen without explanation. On the next screen, scroll until you see the heading that fits your situation best, and then tap 'Dispute this transaction'. If the merchant confirms that they've sent the refund and your refund still hasn't arrived after 14 days, please get in touch with: We won't be able to help unless you have these and 14 days have passed . Our Financial Services Register number is 730427. Having a wage deposited into it and its all been fine. Monzo Bank Limited is a company registered in England and Wales (No. 21/09/18 - 5 accounts now closed. We identify a risky customer. Have you had a change of circumstances? so what other reasons could it be? Im only able to do this because refunds from a flex purchase dont repay the balance. How do I get my money back? 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. So refunds can appear differently depending on whether you used the virtual card or moved the transaction to Flex after. In the end, it took over four weeks for Harford to receive his money back. I thought I was the only one, he explains. Refunds take up to 14 days from when the merchant processes it. I have opened up a new account on the highstreet today, surely that indicates I am under no investigations. 18+ only. I then got an email from them saying it was going to take two to four weeks. 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). No change of circumstances and still live in the UK. Only like you said, if it was fraud related. If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. Finding out your bank has blocked or closed your account can be stressful and frustrating. For more information, please see our 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. 'If criminals get access your online banking via your Sim card, they can charge your details, set up new payments and even open up another account or take out a loan,' Steve told us. If were able to confirm its definitely you, well unblock your account. My account was closed about 8 months ago which is fine and I accepted it, but I need a refund from an airline for a flight I was supposed to take in March 2020, but booked in June 2019 with my Monzo card. Just as you can choose which bank you bank with, they can also choose who they maintain banking relationships with. Announcing the move on its community forum yesterday, Monzo said 'things just haven't gone the way they should have'. 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. 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. Harford says that he struggled to get information from Monzo after his account was frozen. Almost 3,500 people have joined a private Facebook group titled "Monzo stole our money". In line with our terms and conditions, we can close an account by giving two months notice. How do I get it back? They usually cannot legally tell you this - it's literally the law they would break if they took pity on you and told you. What happens to that refund? But your point was Monzo legally cannot tell you why. which is not true unless its AML or fraud. Monzo Premium is for customers aged between 18 and 69 years old and comes at a monthly cost of 15 for a minimum subscription of 6 months. They're saying they can only refund to the original card Any idea what I'm supposed to do here? Meu negcio no Whatsapp Business! For legal reasons they won't be able to discuss it with you whilst the case is ongoing. Its funny you say that because Ive heard back from chat now and the response pretty much amounted to lol, sort it out yourself mate. But the biggest issue i have is they said 2 months. Its likely that your old Monzo account has a positive balance. It was very frustrating., Charley Hopkins, 19, also says that she had her Monzo account frozen without warning. Quick question. 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. How is this fair? 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. That 400 was everything I had to last 'til after Christmas.. 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. VICE reached out to the Financial Ombudsman Service, the body responsible for financial complaints in the UK. We have robust processes and controls in place to flag any unusual activity in Monzo accounts.. Why wouldnt I? If you do not, your paycheck may go to the bank, but you will not be able to access the funds. This document will be password protected, and well send you the password to open it in a text message. 09446231). Monzo legally cannot tell you why. Existing customers can get help via the app. houston methodist willowbrook cafeteria menu; disadvantages of minimally invasive heart surgery; terry kilburn edmonton. Whether Hopkins and other Monzo users like her receive their money back in full, the trust between them and their bank is broken. But this theyre saying i can still use everything for a further 2 months then on the 18th april itll be cut off. 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). If you're expecting a deposit refund from a car rental company or hotel, it'll take around 30 days. 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). It means youre effectively given a cash advance in your main balance that you can either pay back monthly or immediately. If the refund is for the full value of the purchase, there will often be some left over which well put back into your current account. I continued using my account saying I am willing to provide anything they need to get this case disproven but they asked for nothing. If you used your account for anything cryptocurrency related, that might be why. If the account is closed itll probably return to the sending bank, If you have evidence of the account being closed provide it to the entity refunding you, they may require this evidence to have it paid anywhere else for AML reasons.
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