Detecting card fraud

(Justin Seton-Browne) #1

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?


(Bob) #2

Don’t we already have instant notification via active card check in our feed?

(Herp Derp) #3


(Herp Derp) #4

Also isn’t Apple now 2FA as well as sending you a verification text and an E-Mail to say something has changed?

( related to Monzo CEO, Investor in Monzo ) #5

may have misunderstood - wasn’t the fraud on your legacy card ?

wouldn’t Monzo have to access to your top up cards bank infrastructure to offer this facility of detecting usage on your legacy banks card ?

(Justin Seton-Browne) #6

So, if this had happened to my Monzo card, I would have had popups all over the place telling me all about the activities on Apple & GoDaddy? As standard, already baked into the service?

(Bob) #7

I would expect to receive an active card check in my feed when my card is set up to pay an account. Same when I lose my card and have to set up the new card details.

(Justin Seton-Browne) #8

Just to clarify, all this was on my Lloyds debit card, which is/was set up to be the way I topup my Monzo card. I only wanted Monzo to flag up what happened on my Monzo card, to stop the kind of thing that I’ve just been through with my old bank & their legacy systems.

(Justin Seton-Browne) #9

@iansilversides Apparently, someone set up an account using my debit card, & presumably my name, but using a different email address - so, naturally, apple didn’t actually email me personally to discuss anything…
Yes, fraud was on my other bank’s systems, but I was just comparing their service to Monzo, & asking if there was a way for Monzo to offer a much more efficient service, that would make it easier for us to spot fraud ourselves.

(Michael) #10

Monzo would probably flag it up.

You have the benefit of instant notifications so you’d be able to see that it’s gone out. Then jump into the app & freeze the card.

Monzo does some tracking of where you are in the world if you enable it - so will potentially question foreign payments if you aren’t there physically for example.

(Justin Seton-Browne) #11

Ahh, @michaelw90 the problem was that no money went out initially. They just set up the accounts, & the automatic systems checked that my card details were valid for the perps. Then, one presumes, they were going to return to make the fraudulent purchases…

(Michael) #12

Yea. Card checks show up instantly in the app too like this …

( related to Monzo CEO, Investor in Monzo ) #13

as Michael says active card check with instant notifications and location based security

(Justin Seton-Browne) #14


So happy to hear that. I feel validated in my decision to choose a 21st century bank over my creaky old legacy one.