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.
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…
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.
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
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’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.
I have not been asked to provide any additional information only what I used in the beginning,
Anarchist
(Press ‘Help’ search ‘Contact us’ or email help@monzo.com or call 0800 802 1281)
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Having read all of the comments on this and the other threads, the only sensible conclusion I can arrive at is that Monzo can suddenly see some risk that the customers can’t.
Whether that is a genuine risk, or whether Monzo have made an error, I don’t know.
In short,I think the sensible option for everyone who gets one of these emails is to find another bank, and use CASS to transfer your banking there before the two months are up.
