I’m currently out of the country on holiday, and relying on my Monzo card to keep my family fed & pay my way, etc. I’ve been topping up using my existing bank debit card as normal in the App, & everything was sweet. Suddenly, my topup’s stopped, as my existing bank account debit card was declined. I guessed that it was a normal glitch, & called them to sort it out. It turned out that my card had been compromised somehow, just before I left the country. My bank had blocked pretty much all transactions on it, as they said that it had been used to set up accounts on Apple & GoDaddy. For the rest of the holiday, I have had to topup my Monzo card using bank transfers, which have been working exactly as expected. My old bank debit card has been completely cancelled, & no money was lost thankfully.
However, this whole thing gave me pause for thought. I only know that that debit card had been used to set up Apple & GoDaddy accounts because the lady on my bank’s support line told me. I could not actually see that info anywhere on the pages that I am allowed to view on their internet banking. Can Monzo give us that kind of info on a popup notification, as it would appear to be a great way of detecting card fraud before it happens. Ie something like the payment notification, but one that says “Your card has just been used to set up account blah at site.blah”?
What do you think? Is this feasible?