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). [Blog link was removed]. Surely they need to have some sort of valid reason though right? Ive been told that a purchase Ive made using Flex (my first ) is to be refunded in X working days. OR: . "I thought I was the only one," he explains. Theres more here about two ways to pay. Finding out your bank has blocked or closed your account can be stressful and frustrating. Having a wage deposited into it and its all been fine. Only like you said, if it was fraud related. Which is a bit anxiety inducing given that from the customer perspective theres no identifiable reason for it. It was around December last year when Rhys Harford, 25, first noticed a problem. monzo closed account refund. You can use your virtual card, or you can pay with your Monzo debit card and then move the transaction to Flex up to two weeks after you made the payment. If the account activity does seem suspicious, we have to report it to the National Crime Agency, and wait for their response before closing the account. Closing accounts can help fight financial crime Financial crime is a serious problem across society. 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. 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.. To protect peoples money and stop criminals using Monzo for illegal activities, well block accounts when we suspect this is happening. If it's rejected the merchant should inform you and then likely ask for new details. Nothing dodgy has happened in my life at all - and certainly not in the last few months - so it doesnt make any sense to me. You can find more information in the terms and conditions. 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. 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. He. I then got an email from them saying it was going to take two to four weeks. It happened just over a week ago when she was shopping. On the next screen, scroll until you see the heading that fits your situation best, and then tap 'Dispute this transaction'. 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. I can't get in touch with Monzo since I my account was deleted and I can't login anymore. 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. monzo closed account refundplains, plateaus, and mountains worksheets. 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? That 400 was everything I had to last 'til after Christmas.. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 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 If dodgy stuff is confirmed (or unable to be shown to be legitimate) they'll close the account to protect themselves from facilitating further ML/fraud (as any bank that is found to do so can face a huge fine). Im only able to do this because refunds from a flex purchase dont repay the balance. So what do I do? Criminals successfully stole 1.2bn from people in the UK in 2019 alone. W: 12st 0lb. 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. Get in touch with proof from the merchant confirming that they plan to refund your deposit. The police tell us to. It impacts our economy and can affect people in devastating, life-changing ways. Existing customers can get help via the app. We know this can be very frustrating, and were not being deliberately difficult. Monzo legally cannot tell you why. How do I get it back? Monzo closed my account but I have a loan with them. Getting your car rental or hotel deposit refund. But if theyve checked it and given 2 months notice, thats the end of it. 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). If a fraud closure is immediate then its clearly something less serious but also something Monzo dont want to be a part of. 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 . If youre having any trouble downloading the app, logging in or approving your identity or you need us to send your balance to an international account please email remainingbalance@monzo.com with the following information: Please also send a selfie holding your ID, so we can verify your identity. If you do come across one of these stories, its wise to take them with a pinch of salt. 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. 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? 6 yo Gelding. So if you bought something for 30, flexed it over 3 instalments; and then sent it back for a full refund, youd see 20 of the refund paid-off the instalment plan, and your first instalment of 10 refunded to your current account. Its likely that your old Monzo account has a positive balance. VICE spoke to Monzo users who claim their accounts have been frozen or closed, with some waiting weeks to have their money returned. Christmas was approaching, and he planned to use the 365 in his Monzo account to buy presents for his family. Refunds take up to 14 days from when the merchant processes it. But the biggest issue i have is they said 2 months. If you used your account for anything cryptocurrency related, that might be why. Powered by Discourse, best viewed with JavaScript enabled, Refund into closed Monzo account. Some users are accusing Monzo of freezing or closing their accounts for no reason, claiming to have had to wait to get their money back or even not receiving it at all. The call just cuts off after 10 minutes! Rest assured we investigate all cases thoroughly and only take action when we're confident about our decisions. 19/06/18 - I just got the final statement from Monzo and they sent it back to one of my clients! Privacy Policy. Free Bets are paid as Bet Credits. We contacted Monzo about Liam's case and it explained that it initially refused to refund him due to inaccuracies in his story. Turns out, there were loads of people going through the same stuff. Others in a similar situation to Harford recommended keeping screenshots of all correspondence with Monzo, and contacting its complaints department. ! 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? You can use that refund to pay-off the Flex instalment plan by tapping pay off extra - or keep it in your current account and just pay off the remaining instalments on your Flex payment date. Criminals successfully stole 1.2bn from people in the UK in 2019 alone. 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. 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. If the account is closed it'll 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 harryalex99(Harry Alexzander) 21 January 2021 17:19 #3 Theres a lot of anger towards the otherwise quite popular service. Usually a refund cant be sent to where a person requests it, as some fraudsters do use refunds as a means of cleaning fundsbut if you can prove the account is closed you may be able to get them to refund it elsewhere, should the money bounce back. 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. Place your first bet, if it loses we will refund your first bet stake as a free bet. Do drop Monzo an email to confirm what will happen, though. Form: 2- BF. 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 ). Bet 10* & Get 30* in Free Bets. This is a first Ive heard it happen to a personal current account, and I dont like it one bit. 09446231). The account would be frozen until the concern was resolved. Monzo have flagged his account for something. 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. I went to the shop to buy my daughter some food, and my card got declined, she explains over the phone. OP will have done something or some flag for it. If that was the case they would not have two months they would be cut off immediately. 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. Mr Fisher was angry that. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. denver museum of nature and science prehistoric journey. Would be nice to know, in at least a vague sense, the criteria, so as a customer I can try to avoid falling into it. Denied for all further applications. He continues: A couple of days passed, and I thought it would take three to five days [to get the money back]. Sometimes blocking or closing accounts is one of the ways we do this. "But for others, it's been detrimental to their daily lives.. Flex after If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account.