Hi All - I recently returned from a Trip To Thailand with my family. My Adult Son attempted to withdraw £50 from a Kasikorn ( kbank) ATM which was situated alongside two other banks ATM’s at a 24 hour 7-11 in Phuket. The machine didnt dispense any cash so he went to a similar maching just around the corner and this time the equivlaent Thai Bhatt was dispensed. Next morning he noticed both transactions had been recored on his Monzo account so he reported this to Monzo who have returned 75% of the £50. We assumed while they investigated with K Bank. What now - my son is still 25% down - this isnt fraud its a problem with a recogniesed banks ATM ?
What did Monzo say when your son spoke to them?
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They refunded my son 75% of the £50 he attempted to withdraw in local currency as tho he’d been the victim of Fraud, which I don’t think was the case. Monzo Paid E Bank a reputable bank in Thailand £50 their ATM just didn’t give my son any money – my son reported this and they sent him £37.50 no comment just the credit. My son is travelling and cant be bothered with trying to take this up with Monzo Such is the Attitude of Teenagers sometimes!
I use Monzo too – I’m concerned if this were to happen to me with a larger amount, I’d lose a considerable amount of money by Simply using an ATM in a legitimate place?
I know Monzo have been criticised for only covering 75% of fraud when other banks cover 100% but this doesn’t appear to be fraud anyway?
If your son doesn’t want to talk to Monzo about it then that’s the end of it.
Monzo don’t chase/check with the ATM provider, the ATM will automatically have refunded when their machine doesn’t balance. Some are quicker than others at this.
All banks are doing the same, not just Monzo. But it applies to APP fraud, not ATM transactions.
As to why he got 75%, it seems too high to be exchange rate but unless he speaks to Monzo himself and gets the answer then we’ll never know.
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The ATMs in Thailand are weird, using the brand of ATM you mentioned I tried to use 3 different machines of them in a row, all charged me and took over 24 hours to release the money after not dispensing any cash, and then days later charged me again and immediately reversed it in the middle of the night
Another BangkokBank ATM swallowed my Monzo card and just acted like nothing happened, I tried to warn the Australian tourist waiting behind me but the ATM continued to do the same thing to them after they ignored me
The only brand of ATM I had no issue using was the yellow Krungsi ones
Agree – for £12.50 he can’t be arsed – doesn’t make it right tho. Somebody has trousered £12.50 is the way I look at it and banks make enough money out of every transaction when you are abroad as it stands. One withdrawal in Thailand at an ATM costs £4.50 plus another 5% of the total.
D
Perhaps but MasterCard is a global platform – Monzo is Mastercard – if Banks in Thailand are keeping money paid by Monzo for ATM transactions that don’t in fact dispense then MasterCard should deal with the Thai Banks in my opinion.
D
Usually the bank would issue a chargeback for the cash that wasn’t withdrawn, in the rare case that the ATM doesn’t correct the mistake itself.
ATMs are pretty well made, they often don’t dispense properly but they always have copious records and I’ve never seen someone not get their money back.
He should speak to Monzo.
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I’ve suggested he does so – Cheers.
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