I am Monzo user #243 and have used Monzo as my primary account since December 2015.
After witnessing how Monzo has treated someone else in a dire situation, I can see clearly what Monzo was back then, and what it has slowly declined into now; and what that means in terms of Monzo vs any traditional bank.
My friend, a minimum wage sandwich shop worker who lost their job when corona hit, and hasn’t had any income since. He got a job in a bar 2 weeks ago, they yesterday paid him a cheque for £200. This money is for his rent for which he is behind on payments. His landlord has been understanding and said that if the rent is not paid by Friday, he will have to move out, it’s a PIN number entry so the door will just stop working.
Monzo’s support website indicates cheques can be posted to their address in Broadgate. He went to hand deliver the cheque today (Tuesday) in the hope it would clear by Friday. Monzo refused to accept the cheque insisting it would need to be posted (clearing it 7-14 days later).
Despite explaining the circumstances, Monzo refused to accommodate to the situation.
This is something Monzo would have done years ago, and now they’re totally inflexible, like a traditional bank. And not just inflexible, but totally unwilling to even listen. The irony, is that if my friend were a customer of a traditional bank, say NatWest, they could have paid in that cheque today with no hassle as some of their branches are still open, or use one of their ATMs to do it.
This has been a frustrating and disappointing experience. There is so little support for the lowest earners who suffer the most in these situations.