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). 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. W: 12st 0lb. 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. It made me feel upset and angry because that's the only money I had for my daughter, she says. Most refunds will come back within a day or two but sometimes they can take up to 2 weeks, so it's always worth checking your Flex 'Manage' tab and current account. What can I actually do. Which youve already replied to? HELP! I was wondering how this will work with the Flex experience - will that purchase be paid off? Rest assured we investigate all cases thoroughly and only take action when we're confident about our decisions. They're saying they can only refund to the original card Any idea what I'm supposed to do here? Powered by Discourse, best viewed with JavaScript enabled, Refund into closed Monzo account. Junho 11, 2022; police story: season 2 . I contacted Monzo, and they told me they had nothing at this time. We don't know what and we'll probably never know. 09446231). 4 Likes ndrw (Monzo is better than sliced bread) 15 February 2021 11:12 20 Revels: 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. If a fraud closure is immediate then its clearly something less serious but also something Monzo dont want to be a part of. Place your first bet, if it loses we will refund your first bet stake as a free bet. Monzo is allergic to cryptocurrency fraud risk, so they will sometimes close the account for that. 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 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. Have you had a change of circumstances? What's going on? I just started to get tired of it, and that's when I came across the Facebook group.. So in my mind, Im a Premium customer and I get paid interest on my balance. My understanding was that UK banks have to give you a grace period to move your money to another bank of at least 30 days. It might be a mistake on Monzos part, youd like to think theres human intervention here. OP will have done something or some flag for it. CONFUSING! As we mentioned, explaining some of the reasons we close accounts could give fraudsters clues that might help them get around our security controls. I genuinely thought it was just an issue with their system, Harford tells me over the phone. Over the weekend that 55 cash advance became a 139 cash advance as the merchant has now refunded the duplicate transaction, but the 55 Flex balance hasn't automatically settled and Monzo's 88 chargeback refund is still in my account too. If our review finds theres a perfectly reasonable, legal explanation for the activity, we of course immediately unblock the account and apologise. Some customers posting on it report having up to 30,000 stuck in frozen business accounts and say they. 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). Existing customers can get help via the app. 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. I dont understand your point? However, when he got to a cashpoint in north London, his Monzo card was declined. Our Financial Services Register number is 730427. 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? Existing customers can get help via the app. Mr Fisher was angry that. 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? Monzo Plus/Premium I would have thought having it set like this would open the system to abuse somehow. This needs to be sorted out now. Yeah i did think that. It impacts our economy and can affect people in devastating, life-changing ways. Last year, hundreds of Monzo customers complained that their accounts has been closed or frozen without explanation. The stories on it may alarm some of. ! How do I get my money back? So refunds can appear differently depending on whether you used the virtual card or moved the transaction to Flex after. I still live in the UK (havent left), lived here all my life so have a passport, no legal troubles etc. On the next screen, scroll until you see the heading that fits your situation best, and then tap 'Dispute this transaction'. There isnt a tombola with all our accounts on and they pull one out every Monday morning and that person gets their account closed. 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. Criminals successfully stole 1.2bn from people in the UK in 2019 alone. Cookie Notice If you do come across one of these stories, its wise to take them with a pinch of salt. So what do I do? The Monzo stole my money Facebook group contains stories of people who have struggled to pay rent, couldnt access Universal Credit payments, or were stuck abroad without a functioning bank card. There are two ways you can buy with Flex. In response, HSBC said in a statement: 'A customer who has closed their credit card would be entitled to any refunds that are . 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. Some users are accusing Monzo of. If youve been waiting more than 14 days, please check that the merchant definitely sent the money. New Customers only. We contacted Monzo about Liam's case and it explained that it initially refused to refund him due to inaccuracies in his story. What happens to that refund? This is a first Ive heard it happen to a personal current account, and I dont like it one bit. 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. Sometimes well spot behaviour that makes us think a customer poses a risk to Monzo or other people. according to figures published on its website, are accusing Monzo of freezing or closing their accounts. 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 ). 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. 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. Monzo, the banking start-up loved by millennials, has over three million users. Surely they need to have some sort of valid reason though right? Statements Taints my faith in them somewhat. You can find more information in the terms and conditions. If fraud is involved, regular rules around account closures do not apply. But your point was Monzo legally cannot tell you why. which is not true unless its AML or fraud. To protect peoples money and stop criminals using Monzo for illegal activities, well block accounts when we suspect this is happening. 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. Monzo can not (by law) tell the customer this is why their account has been suspended. No change of circumstances and still live in the UK. Thats not an acceptable risk for us. and our Im afraid this customer forum isnt the place to discuss closed accounts. But your point was Monzo legally cannot tell you why. which is not true unless its AML or fraud. After being criticised by. Criminals successfully stole 1.2bn from people in the UK in 2019 alone, Information about our Personal Current Account Services. if someone commits fraud theyd shut the bank account down immediately though (or so id assume as it would be a legal risk). In the summer of 2019 a Facebook group, " Monzo stole our money ", was quietly set up by Ian Fisher after his account was unexpectedly closed by the digital bank. But this theyre saying i can still use everything for a further 2 months then on the 18th april itll be cut off. [Blog link was removed]. Criminals successfully stole 1.2bn from people in the UK in 2019 alone. I continued using my account saying I am willing to provide anything they need to get this case disproven but they asked for nothing. Why have I received an email about a refund from my closed account? Denied for all further applications. Have you stopped being a resident in the UK? I can't get in touch with Monzo since I my account was deleted and I can't login anymore. Monzo Bank Limited is a company registered in England and Wales (No. 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 Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Managers have more impact on our mental health than doctors and therapists! I went to the shop to buy my daughter some food, and my card got declined, she explains over the phone. Thats why like many banks, we constantly evolve our approach to financial crime and the risks that come with it. houston methodist willowbrook cafeteria menu; disadvantages of minimally invasive heart surgery; terry kilburn edmonton. Its likely that your old Monzo account has a positive balance. Meu negcio no Whatsapp Business! Sometimes blocking or closing accounts is one of the ways we do this. 6 yo Gelding. If you're expecting a deposit refund from a car rental company or hotel, it'll take around 30 days. Refunds take up to 14 days from when the merchant processes it. A private Facebook group, "Monzo stole our money", has grown to 850 members, mostly customers complaining that their accounts were frozen without warning. 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 . 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. 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. How do I get it back? But the biggest issue i have is they said 2 months. I am a victim of fraud here, I cannot even afford to take this to court. 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. VICE viewed the . In the Watchdog investigation, the bank said: Without context, which we are prohibited from sharing by law, it is incorrect to reach a conclusion about why accounts have been frozen or closed., It also told the Guardian: "Blocking accounts is a legal requirement, and as a regulated bank we have a duty to detect and prevent financial crime.. so what other reasons could it be? The FOS are a sham, they are taking a further 3 months or so to come to a final conclusion after being told by an adjudicator that everything done by Monzo bank was a fair process. Ive been told that a purchase Ive made using Flex (my first ) is to be refunded in X working days. He. Flex after If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. 18+ only. 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. 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. Refunds take up to 14 days from when the merchant processes it. After filing numerous online complaints to Monzo, one was finally upheld, and Harford had his money returned in full along with 25 compensation. We know this can be very frustrating, and were not being deliberately difficult. 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). However, its not all rave reviews. I've had an inconvenience, which is frustrating," says Harford. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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. I had my bank account closed since Late October, I was awaiting a refund from Adidas For around 800. Privacy Policy. There's more here about two ways to pay So refunds can appear differently depending on whether you used the virtual card or moved the transaction to Flex after. Almost 3,500 people have joined a private Facebook group titled "Monzo stole our money". (This is known as tipping off.). According to the most recent data it holds on Monzo from January to June 2019, it received 140 new complaints against the bank. 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. Bet 10* & Get 30* in Free Bets. For over a month, I had no funds. If were able to confirm its definitely you, well unblock your account. It impacts our economy and can affect people in devastating, life-changing ways. Bet 10* & Get 30* in Free Bets. The call just cuts off after 10 minutes! "The prevention of financial crime is an issue that affects the entire. This document will be password protected, and well send you the password to open it in a text message. The first bet must be placed within 7 days of registration and at odds of 1.8 or more. 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. Existing customers can get help via the app. Monzo Bank Limited is a company registered in England and Wales (No. Closing accounts can help fight financial crime Financial crime is a serious problem across society. So we might block the account on our side to investigate, and close it depending on what we find. 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. 21/09/18 - 5 accounts now closed. '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. Its just the way the law works. Launched in 2015, the company sees 40,000 new bank accounts opened each week, according to figures published on its website. 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. 19/06/18 - I just got the final statement from Monzo and they sent it back to one of my clients! Just as you can choose which bank you bank with, they can also choose who they maintain banking relationships with. If you used your account for anything cryptocurrency related, that might be why. Your first step should be to contact the merchant and see if it has bounced back. Were sorry to see you go. Having a wage deposited into it and its all been fine. 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. The max refund is a single 30 free bet and will be applied to your account with 72 hours of qualifying bet settlement. The account charged a monthly fee, starting at 6, and offered exclusive card colours and what Monzo . It happened just over a week ago when she was shopping. They were quick to respond, but not with very helpful advice. They also have the same mental health impact as our spouses and partners | 11 comentrios no LinkedIn Corporate_Drone31 2 yr. ago. I have been banking with Monzo for a few months now, using it to trade Bitcoins through LocalBitcoins (peer to peer) and pay for various things. OP will have done something or some flag for it. If weve blocked or closed your account, its very likely we wont be allowed to tell you specifically why. If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. Otherwise criminals would quickly figure out how to get around them! We identify a risky customer. Danielle Richardson. You might not understand why its happened, and feel powerless to change things. Last run: 364 days. 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. Monzo Bank Limited is a company registered in England and Wales (No. 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. When VICE approached Monzo for comment, a spokesperson said that the company would not be able to comment on the closing of users accounts without specific details on individual cases. If a fraud closure is immediate then it's clearly something less serious but also something Monzo don't 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. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 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. 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. Getting your car rental or hotel deposit refund. 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. 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. 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.
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