Hi i was wondering if anyone else is in same situation.
I got caught up in becoming a money mule back in 2019 and had a marker on my name. Cat 6. All my ban accounts started to close down. Ive been refused for basic accounts etc i dont know what to do.
I have monzo at the moment but im worried this might be getting closed in the future following the closure of my old accounts.
I done a stupid mistake and i regret it everyday it feels worse then a prison sentence.
This is the only account i have left can someone please help me this has effected me in everyway possible.
Any experiences here will be anecdotal at best and speculation at worst
Given that you a Monzo account, you have not heard anything from them, and all situations are unique, I suggest contacting them in the chat in app ASAP. Honesty really is the best policy here
Other members, please keep to the specific question. As above, speculating on the situation is really never good and would likely see the topic closed
If the OP has managed to open an account then theyâve already managed to pass the necessary checks. Thereâs nothing to worry about, and if Monzo do decide to tweak the level of risk theyâre open to and close their account later down the line, the OP can deal with it at the time.
Monzo do check at other points as per the other threads about this.
Sure, you can hope they donât but would you rather know now or just wake up to it one day?
OP, have a search, thereâs multiple threads on here about this and good suggestions of other banks to try as when a bank is a certain size, they have to offer you at least a very basic account.
Try an account with a local credit union, can get one as a backup. Then if the worst happens youâve something to fall back on straight away without the stress of having to sort it.
I agree with above posters who say do not contact Monzo about this, it could be like opening a hornets nest. Instead look at opening a backup account with a credit union just in caseâŠ
In the meantime be scrupulous in how you run your bank account, who you send money to and receive money from, and steer away from anything that may look unusual or suspicious.
Fingers crossed you will be able to keep your Monzo account until the CIFAS marker drops off your record.
you can try open a account with revolut they do exactly what monzo do but better, bills pots, disposable cards virtual cards which are free and get paid a day early, roundups, the only thing they donât have a banking license for the UK yet only a e-money license but theyâre in the process of getting one so give them a try
Obviously opinions differ, but hoping they ânever noticeâ risks becoming one of those other âtheyâve closed my account without warningâ topics we all so know and love
If Monzo were okay with opening the account knowing the facts then contacting them changes nothing. If this will be news to them then I would personally prefer to be out ahead of it
Il just wait and see. I woudnt have been as worried but i have a spouse visa application to submit with proof of income etc and will need bank statements for this monzo is my last hope. Im just hoping they let me keep it for another 4-5 months at least. What worries me is apparently they review accounts now like high street banks do as they are member of cifas now.
Ive tried nearly all the basic banks i got rejected. Cashplus and think money also rejected! I just opened one called suits me but they are not officially a bank and reviews aint to good
There is a thread here somewhere of someone finding a Credit Union who would give them a debit card if a Cifas marker and they were in your posision of unable to open a basic account anywhere. Have you tried local Credit Unions?
Yes ive tried they said to apply online which im going to do. Only thing now is i dont know if they can stamp a bank statement to verify as home office as for certified copies of bank statements. Its just all happend at the wrong time. I havent even told my family members about it. Having to wake up everday thinking it might be today it gets closed etc.
Stop getting ahead of yourself and just focus on one thing at once. Wait until your application to the credit union has been processed and then start looking at statements and such.
All this worry and remorse youâre feeling is normal. These are the consequences for your actions and are there to stop others from thinking itâs ok to do the same. As harsh as it sounds they are probably similar feelings that the victim of your crime would be having if you hadnât got caught too.
You donât know this is going to happen and even if Monzo do close your account you wonât get told why and you wonât know for certain itâs because of this.
You have a few options:
Tell Monzo (pretty much everyone here thinks itâs a bad idea)
Get a credit union account as a backup (pretty much everyone thinks itâs a good idea)
Keep your Monzo account in good standing and donât use it for anything that may draw attention to yourself. Salary, Bills etc are fine but deinfintely NO CRYPTO and NO money transfers from anyone not a business
Assuming the CIFAS marker is a genuine error in judgment then learn from it and move on.
Remember, worrying about the things you have no control over is pointless, it will affect your mental health and IMO make you more likely to stray back into a bad place.
