Declined for overdraft

Hi everyone are monzo really strict with there overdraft criteria as I keep being declined. I had a £2000 overdraft with my previous banks Santander and nationwide and have a pretty good credit history so I see no reason why I’d be declined. I have only been with monzo for 3 months so maybe that’s a factor.

Whatever the reason is, the criteria does change. I was turned down a few times before they would offer me one.


They’ve never been that generous and they have got tougher with it.

Thanks guys I appreciate the replies.

If your score is only pretty good then use their advice as a guide and aim for excellent if you’d like to increase your chances of acceptance.

Otherwise you can use Monzos tools (that those other banks don’t have) and you may find that you actually don’t need an overdraft at all.

Overdraft increased from ‘up to £500’ to ‘up to £1,000’ overnight on


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I was offered a loan, then a week later wasn’t - same credit score, no new accounts. it just changes, no one knows what the criteria is. Just don’t worry about it too much

Not worried I just like having it in case of an emergency like I did with my previous banks. But it’s not needed as such

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Like mentioned before Monzos lending can be up and down. You might find in a few months of income coming in that you will have an offer