Account closing, why?

Hello everyone, after looking online for some help I saw this place and just want to ask why Monzo have closed my account for? I have been a user since early 2018 and this has been my main account since then also. I have always had my wages paid in every month on time, direct debits go out on time and the odd transfer from my child’s account so I can get some bits and pieces, basically I am a normal person that does normal things.

Today I get a mail saying that my account will be closed in two months!!! What have I done?!?!

The only things that have changed recently is that unfortunately last year I was made redundant due to covid so did the natural thing and claimed universal credit and job seekers allowance (something I have never done before) although this does not match what I was earning before it is still a liveable amount.

Why would Monzo do this?

Hi. If you search there’s been 4 of these threads today. Nobody here can tell you why and Monzo won’t tell you why.

Your best bet is to do this


See, i have a feeling that with peoples incomings changing like it has over the year, they are not meeting the monthly income minimum and therefore Monzo no longer see them as profitable and are removing them as customers.

I know its only a few recent customers but this is starting to gain ground…

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Welcome to the community Paula unfortunately we’re all customers here so no one will be able to assist you with finding out why.

Experience tells us Monzo won’t back down and I would sincerely hope they didn’t do it just because your claiming benefits.

I hate to admit it but @Revels is right in that you do need to start looking for a new bank asap.

You may want to consider that Lloyds, HSBC and First Direct all offer switching bonuses so you could ditch Monzo and make some money in the process


Thank you for your reply, will this stop them opening an account?

But this change was not my fault and there are millions like me out there, surely Monzo won’t close all our accounts as we are claiming. I should be in a mew job next week (touch wood) so now what do I do?

This feels a bit like discrimination against those claiming if this is what is happening.

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I’m not sure what you mean?

If you use the CASS service it moves everything over and closes your Monzo account.

Or as @47AlphaTango says, there are other banks that mean you could switch and make a few quid.

It’s not going to be a minimum monthly amount as that would mean closing millions of accounts.


This is the best advice you will get I’m afraid. Time to switch to another bank.


Hi Robyn, thank you for your reply. I hope they didn’t close my account for claiming either but I really can not see why they did. I have never been in my overdraft, never bounced a direct debit or anything like that. I have always been financially secure

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As much as I think Monzo should tell you (unless legally not allowed to), it won’t be because you are claiming welfare payments. Just, not at all.

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Sorry I meant would Monzo closing my account put a mark somewhere to stop me opening another account?

From what others have said in these threads, it doesn’t look like it. Plus if you CASS, technically that’s you closing it. So that won’t have any effect.

I hope not but that is the only thing I can think of, nothing has changed for years. I get paid and I pay my bills. All my stuff is paid on card and I hardly ever take cash out.

I hope not, this is just an unfair hassle I do not need. :frowning:

Unfortunately, it seems like it’s something Monzo are doing at the moment. There’s no explanation for it, just a lot of speculation from people here on the Forum.

There’s nothing you can do to change Monzo’s mind, and no one here will be able to help you - as we’re customers just like you.

Your quickest & easiest solution is to use the CASS, which will move everything for you. Good luck in the future banking, but unfortunately, it won’t be with Monzo :frowning_face:

What is this? the fifth thread today reporting this? Banks close accounts all the time, sure. But given the number of people who have sought out this community today alone suggests an unsettling trend here. Perhaps it’s time someone from Monzo hopped on here to clear some things up, if they’re allowed to share any insights at all.

Most if not all of these reports stem from 2018 signups. Did something go awry back then perhaps with KYC, and this is their way of fixing it? I remember N26 had to retro-actively ask me some additional information as a condition for offering the account. There was a deadline for this, and failure to provide it would have resulted in account closure. Can anyone recall if Monzo went through something similar in 2018?

Elsewhere from this community, I have seen a lot of folks claiming receiving the same email today too. I’m half expecting it to happen to me, as I presume my use of money muling my family’s money around to other family members is a little abnormal.

email to lodge a formal complaint, and if you’re not happy with the outcome take them to the ombudsman. I wish you the best of luck OP, and hope you can get this sorted, or find a bank that will have you.


I’m not saying its your fault Paula, far from it. What I am saying is that most banks, and i think Monzo are included, have a requirement of having x paid into the account each month for you to be eligible to have that account and because of the current situations, peoples income has dropped so it seems to me that the banks are seeing people as no longer profitable and are exercising their rights to remove them as a customer.

I’m not saying this is the case but with 5-6 cases of this in a few days, this is starting to gain some ground and for me, its looking like this might be a reason why.

Just my opinion at the end of the day…

Monzo did introduce requirements like this a year ago. If you don’t meet the requirements you’re just limited with withdrawals and free card replacements.

I have not been asked to provide any additional information only what I used in the beginning,

I don’t recall Monzo ever retro-actively asking folks for additional information thought would have been required to provide banking services. One thing you could check for though is from the home tab, tap on your profile photo at the top left, then the gear icon at the top right, then personal details, then tax residency.

I know a few banks in the past had to later request my tax residency in order for me to keep my account, but I can’t remember if Monzo were one of these.