Surely they need to have some sort of valid reason though right? Do drop Monzo an email to confirm what will happen, though. 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. Neither the refund from the chargeback nor the refund from the merchant closed my Flex agreement. This document will be password protected, and well send you the password to open it in a text message. I have opened up a new account on the highstreet today, surely that indicates I am under no investigations. 09446231). Corporate_Drone31 2 yr. ago. We may close your account or stop you using your card and app immediately if we believe youve: put us in a position where we might break the law, broken the law or attempted to break the law. If you'd still like to proceed with closing your account please complete the below steps: Bring your account balance to 0 (this includes withdrawing the balance of your Pots) Tap on your profile icon (if you can't see that, swipe down on your card) Tap on the settings cog Tap "Close account" to get started Was this article helpful? Monzo Plus/Premium Our Financial Services Register number is 730427. It usually happens if a change of circumstances or behaviour means a bank no longer wants to provide banking facilities to you, Its in every banks T&Cs that they can terminate the relationship by giving you 1-2 months notice and when they close the account in cases like this they just point to that bit of their T&Cs, we could all be culled off for no apparent reason. "But for others, it's been detrimental to their daily lives.. Junho 11, 2022; police story: season 2 . Form: 2- BF. I've had an inconvenience, which is frustrating," says Harford. If the money has been credited to your account then Monzo will be able to advise on how you can get hold of it and the rest of your funds after they've concluded their investigation. Monzo has closed its Monzo Plus packaged account to new customers just four months after it was launched. I thought I was the only one, he explains. Digital bank Monzo has closed its fee-charging packaged current account to new customers five months after launching it and is refunding some of those who signed up. If you paid with the virtual card, the refund might come into your current account, but more often it will directly go towards paying off the Flex instalment plan its connected to. Theres more here about two ways to pay, Paying off extra and early with Monzo Flex, Making a Section 75 or purchase protection claim with Monzo Flex, Making a Section 75 claim on a virtual Flex card transaction, Information about our Personal Current Account Services. But if theyve checked it and given 2 months notice, thats the end of it. Sign up, deposit between 5* and 10* to your account and bet365 will give you three times that value in Free Bets when you place qualifying bets to the same value and they are settled. 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. It made me feel upset and angry because that's the only money I had for my daughter, she says. 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 Bank Limited is a company registered in England and Wales (No. If weve blocked or closed your account, its very likely we wont be allowed to tell you specifically why. To create a new dispute request, tap on a transaction in your app, and then scroll to the bottom where you'll see in red text 'Something wrong? '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. But your point was Monzo legally cannot tell you why. which is not true unless its AML or fraud. [Blog link was removed]. Flex after If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. There isnt a tombola with all our accounts on and they pull one out every Monday morning and that person gets their account closed. If you've received an email letting you know that you've received a refund and asking you to login to the app, please download the Monzo app and follow the instructions. Meu negcio no Whatsapp Business! I genuinely thought it was just an issue with their system, Harford tells me over the phone. However, its not all rave reviews. (This is known as tipping off.). New comments cannot be posted and votes cannot be cast. Quick question. Announcing the move on its community forum yesterday, Monzo said 'things just haven't gone the way they should have'. 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.. Its unlikely to happen to 99.9% of customers. If a fraud closure is immediate then its clearly something less serious but also something Monzo dont want to be a part of. 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 . For legal reasons they won't be able to discuss it with you whilst the case is ongoing. New Customers only. Rest assured we investigate all cases thoroughly and only take action when we're confident about our decisions. 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. Need it sooner? There isnt a tombola with all our accounts on and they pull one out every Monday morning and that person gets their account closed. Yeah i did think that. They usually cannot legally tell you this - it's literally the law they would break if they took pity on you and told you. Thats why like many banks, we constantly evolve our approach to financial crime and the risks that come with it. How do I get it back? Im afraid this customer forum isnt the place to discuss closed accounts. 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. I was incredibly shocked as I felt like I was being treated as if I was a criminal, Harford says. Update on this earlier post. Have you had a change of circumstances? If our fraud systems believe someone else may have access to your account, we block the account to protect you and your money. 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. 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. 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. Monzo closed my account but I have a loan with them. He continues: A couple of days passed, and I thought it would take three to five days [to get the money back]. Closing accounts can help fight financial crime Financial crime is a serious problem across society. Some customers posting on it report having up to 30,000 stuck in frozen business accounts and say they. 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. 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. So what do I do? What happens to that refund? But your point was Monzo legally cannot tell you why. which is not true unless its AML or fraud. This can happen as part of a financial crime investigation, and well co-operate with any requests from law enforcement. Unfortunately none of us here can say what the reason might be, as were not privy to Monzos internal discussions. If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. OP will have done something or some flag for it. Existing customers can get help via the app. We cant spell out every reason why we might block or close an account, or explain all the ways we spot fraud. and our Monzo have flagged his account for something. Reading about other people it seems their accounts were cut off immediately (and monzo claimed something like 95% of those decisions were correct- which they would do ofcourse and i assume they put it down to fraud or some sort of dodgy thing). He. Im not in a sticky situation either way, but just keen to know how this side of it works before I use it again - Ive checked Help section and googled this, but come up with nothing so far. Monzo legally cannot tell you why. I was wondering how this will work with the Flex experience - will that purchase be paid off? Form & Verdict. denver museum of nature and science prehistoric journey. As soon as you receive notice that your bank has closed your account, you need to take immediate action in order to be able to continue to pay your bills and manage your money. Free Bets are paid as Bet Credits. Doesnt seem like a bad outcome, but seems odd - I would have thought having it set like this would open the system to abuse somehow. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. After being criticised by. Our Financial Services Register number is 730427. If you're expecting a deposit refund from a car rental company or hotel, it'll take around 30 days. 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 We know this can be very frustrating, and were not being deliberately difficult. Only like you said, if it was fraud related. Only 29 percent of these complaints were resolved in the consumers favour. 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.

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