Hi this monring I got a message in chat from Monzo support saying my personal account “could” be closed as they have seen I was apparently using my Monzo personal account for business purposes. This was not and is not true. I hold a secondary Monzo business account for my business. So I asked them to clarify which transactions were flagged as “business” on my personal account.
They came back saying "faster payments from “my company name” to personal account. The exact wording they used was “I am seeing here the last transation on your personal account for faster payment “my company name” Since this situation is related to a buisness account I will to esculate this to our specialists”
This is ridiculous - as all I was doing was withdrawing money from my business account to my personal account - it was not a business transaction. Being a sole trader self employed I do need to withdraw money at times from my monzo buisness account to my monzo personal account. Now there is a threat they will close my accounts and give me 2 months notice to do this.
Anyone any advise on this ? I have sent a reply to monzo chat support trying to explain these faster are not business transactions - but its a concern if this is not allowed or for some reason they have failed to see that I own the business account and the personal account.
Any help appreciated many thanks Dino