Declining new business accounts, why?

An update … after a long wait on chat, Monzo CS responded and accurately identified what the cause of the issue was (a missing item in our Companies House listing). And now our Business Account has been setup! Great support from Monzo CS, and the overall setup process is superb. I have made a suggestion to their CS that the rejection message should have a more detail in it, outlining the specific cause for rejection.

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Did you reach out to Monzo chat? Looks like the post above was very successful when they did

As a quick update: we know this can be a frustrating experience for some people, and we’re working on improving this in the app so that you can see this information (like the missing Companies House information that @Ramathing mentioned) earlier in the signup process. So stay tuned :crossed_fingers:t3:

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I mean. He might just have other things to do…?

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Well that’s just rude… :joy: To ask a question like that and then not even bother to come back and see whether anyone’s answered? Rude, I say!

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Unfortunately I am in a similar position.

I have applied a number of times over 6 or so months, maybe more.

We fit every eligibility criteria listed and everytime I’ve asked support I’ve been informed that they cannot clarify why they won’t offer an account…

It’s very frustrating. I’ve been an actively promoting member of the monzo platform and have used it for many years, recently moving to Monzo Plus.

Very disappointed with the lack of clarify.

All this reaching out. Does nobody contact anyone these days? :astonished:

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Have you dropped them an email?

I’ve contacted support for maybe the 5th time yesterday and today.

"Unfortunately each application is taken on an individual basis. Sorry this isn’t the outcome you would have preferred. Unfortunately this can’t be changed.

Have a good day and good luck finding support with your business banking."

Door closed in my face. Bitterly disappointed and will strongly consider my future with Monzo going forward…

Would you rather they didn’t have any criteria and let everyone in?

It isn’t personal. You don’t tick a box for whatever reason, and if they tell you what that is, you could just lie on your next application/change something.

You assumed I didn’t contact support Johnny. I have multiple times.

Support in the past has been excellent but have handled my query in an poor manner in my opinion.

I’m sure if I practiced this method with my own clientele, it wouldn’t go down well.

‘yes, we’ve been able to clarify another customers issue with their companies house record, but sorry, we can’t justify yours and unfortunately we’re not going to tell you why either - goodbye’

If anyone is interested in my chat logs, they’re more than welcome to them.

Pretty hard to lie about legitimacy of details of a Ltd company…

Well there’s something Monzo don’t like about your details and maybe they don’t match somewhere as said above.

And plenty of people lie about lots of things.

I’ve assumed nothing, Matthew. You’ve misinterpreted my comment in which I’m highlighting the use of a terrible Americanism in our language.

I absolutely agree with you.

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For people having problems, I’d suggest just reconfirming that you are eligible, by taking a look at the eligibility page here:

Although some of the new ones are successful in taking COVID-19 money from the government. Lots of fraud.

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I agree with you. Pretty damn awful isn’t it.

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Have you triple checked spelling/typos/names with an initial vs not or anything like that?

Yes I have!

Only thing I can think if Monzo classifications of blocked SICs, maybe one of our categories falls under this? Who knows. Just pretty damn frustrated with this all now… hey ho.

Not even slightly hard unfortunately. The UK is full of sham companies that are fronts for money launderers. The barriers to setting up and reporting on a UK limited company are some of the lowest in the world.

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