Any idea on what would constitute to extreme? For example when in another country maybe? I imagine that could take some time to sync between the banks…
I know if you fill in a banks ATM Dispense Claim form it normally says it takes up to 20 days for LINK to investigate the claim as they need to check the ATM balances and confirm the surplus etc. Not sure how it works with Monzo/MasterCard
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It depends on what it is, some hotels hold authorization but don’t make a presentment for over a month!
90% of the time though it’s only 2 to 7 days I believe.
Some merchants are so slow at making presentments that the original auth has released the money, you’ve spent it again and then they come to collect it! I guess that’s what they are trying to avoid here.
If the ATM is wise it won’t make a presentment as the money wasn’t withdrawn. Thus the auth will run out naturally.
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Speaking to monzo chat it was confirmed that processes were changed on October 19th so anyone who had this issue and had a immediate refund were lucky because it’s not likly to happen again.
Again to reiterate I am not blaming monzo for the funds not dispensing. My first post was clearly to advise people of what to expect if this happens.
At the moment it has been stated above the legacy banks have such a faster turnaround with this issue. Whilst I want a immediate refund, if the issue was it had to be investigated and took for instance 7-10 days I would be upset but that is the process of other banks so I would have to deal with it. My issue is that 45 days is far to long. Whilst at the moment there is a massive doubt I will ever use monzo again, I would certainly never use it again to withdraw cash.
Is there anyone that would be happy waiting 45 days for money back up to £400 that they didn’t get, especially when other banks resolve problems some immediately
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Hello @Steveb1471,
First of all I’m really sorry to hear that your ATM withdrawal was unsuccessful. I can see that you’re talking to us on the in app chat to get this fully explained to you.
This is a process that the industry is following. If the ATM reconciles its data that it was indeed unsuccessful, then it will automatically reverse the hold on your money in around 7 days time.
The 45 days is indeed an upper limit that we need to allow for Mastercard to investigate, and this can be resolved much sooner.
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