Devastated About Account Closure after 2 years

[anon95680666]

does that not depend on who is asking them to tweak their risk appetite …hmmmm …( if anybody is ) when do FCA regulations / advice become law ? and Im not suggesting this is externally driven …

[SouthseaOne (Michael)]

@TTJJ

in this situation which seems to be happening to a fair number of people (just going by the tiny % who use the forum) with no explanation.

Going to keep out of the wider discussion on this topic, but I would say it is more likely that we hear from someone in that situation (as they may search the forum out to air it) for the same reason you see a lot more passionate views/comments for low scores on Amazon and eBuyer than for high - folk who are happy and for whom things are going well tend to not say much on a topic and vice versa

[Revels]

And all of them are new.

• Get email from Monzo
• Google - Monzo closing my account
• Leads them to this place

[SouthseaOne (Michael)]

Monzo said they’re closing my account

I’ve stuck this on slow mode as I am off to try and catch a bit of daylight for the first time in ages and I don’t want it spinning out of control I will only add that they won’t be closing accounts purely because you do not pay as they would go straight from 5 million accounts on Sunday to a few hundred thousand tops. Most users have free accounts, so naturally they would make up the bulk of these closures

[DaveJ (Dave)]

Nothing to be upset about you’ve plenty time to switch to a new bank and you can still access funds.

CASS out to a new provider they’ll take case of all the hard work and then just update UC with the new bank details. You’re lucky in a way as it’s not an instant closure so plenty time to get a new account sorted.

[txm_xt]

Everyone handles things differently but thank you for taking the time to repeat what was advised previously.

[Gaoler]

Put in a complaint, get to deadlock (you seem to be there already), then move on to the ombudsman with it. Fair treatment surely doesn’t include making up half-baked excuses for closing your account!

Maybe they’d rather lose a few customers than raise backing for capital adequacy (if they have, I called it )

[Revels]

@Gaoler

then move on to the ombudsman with it

Who will side with Monzo. They can give two months notice and close an account. That’s what they are doing.

[ndrw (This place is done for, y’all)]

And they’ll take 6-12 months to side with Monzo. They were under a lot of pressure a year or so ago so I imagine it’s worse now

[Gaoler]

@Revels

Who will side with Monzo

I think they’ll side with Monzo on the substantive issue, but maybe not the communication

@ndrw

And they’ll take 6-12 months to side with Monzo

Perhaps for a one-off complaint. It’ll be a different matter if they’re getting significant numbers of the same sort of issue

[lpoolrob (Rob)]

@Revels

Who will side with Monzo. They can give two months notice and close an account. That’s what they are doing.

Indeed, but if they were to get an influx all complaining about the same thing it will become a trend which may be investigated.

[danmullen]

@Revels

@Gaoler

then move on to the ombudsman with it

Who will side with Monzo. They can give two months notice and close an account. That’s what they are doing.

OK, so if they side with Monzo, go to the Advertising Standards Authority and complain about their claim of being “fair” and “transparent”.

From the website about us page…

By solving your problems, treating you fairly and being totally transparent, we believe we can make banking better.

I’m sick of Monzo’s BS

[Peter_G]

Hey @txm_xt, I’m sorry tp hear that this has happened to you - I’d be frustrated too.

I’m going to close this thread because it’s a duplicate, not to prevent anyone from posting. Do pick up the conversation in an open topic.