I don’t currently have an overdraft with Monzo, and clicking “find out about overdrafts” in the account tab tells me that Monzo can’t offer me an overdraft currently. My question - each time I click “find out about overdrafts” is some sort of soft credit check run? If not, is there any way to request Monzo credit check me again to see if I’m now eligible?
When I first checked to see if I could get an overdraft my Monzo address and credit record address didn’t match up as I was in the process of moving home - I suspect this may have led to me getting declined. If there’s no way to manually request a credit check from Monzo, is this something that is scheduled to happen at some point? I’ve had no issues getting an overdraft/credit from other financial institutions. I’ve been clicking “Tell me if this changes” for about 6 months now.
I don’t even get a “Tell me if this changes” button. I just get this:
Not sure what they mean by “near future”, but that’s been there since May.
Hmm… as of a few weeks ago, I was able to enter previous address details etc. in order to get a better match.
I get this - so they know I exist, but I have had a monzo account for a year now, plenty of bills in my name () and have been in the UK since birth.
I get (still) that they can’t find my credit record. Which isn’t exactly true because they are reporting to Noddle so they obviously can.
What they could say is “You do not have a good enough credit rating” or something to that extent. I’m not going to cry.
Saying they are hoping to fix it… they have been hoping to fix it since overdrafts were launched.
A forgotten part of Monzo. One that can actually make them money if they sorted.
I think this lines up with my case. Maybe they couldn’t find your credit record when you first clicked the button, but have they actually looked for it to consider if you’re worthy of an overdraft since then?
No idea. I assumed that when I click that button they check. If it’s static and doesn’t update since the first check it seems pointless to have the button.
Has anyone had any other text other than those though? If you just don’t have a good enough credit rating, what do they show on the screen?
I would assume the same, but the page seems to load almost instantly for me which makes me think nothing is really happening. I also don’t see any soft credit checks on my Noddle report.
I am getting the “You don’t have enough account history with us to get an accurate picture of your finances” even though I’ve been #FullMonzo since August 2017. Seems like there is no message for “bad credit” as such and it falls back to that one instead.
At least other banks will say if you’re not eligible for an overdraft or credit of some form.
If I’m not eligible then take away the button!
Hopefully someone from Monzo can clarify. It’d be good if COps could run a new manual credit check to see if I’m now eligible, with my consent (presuming the “find out about overdrafts” button doesn’t really do anything).
I remember from another thread that COps can run a re-evaluation on your request. Can’t remember where I saw that though.
I get this too. I realised a few months ago (after another thread on here about the same thing) that my address was slightly different on Monzo than it is everywhere else (it listed ‘Basement flat’ rather than adding an ‘a’ after the property number) and I changed that but it’s still not updated.
Not that I want an overdraft, but I do occasionally press the button to see if it’s updated.
Yep, same. I don’t particularly want one but I occasionally check if they’ve fixed things.
When I first clicked the button and was rejected I remember asking COps but got the generic “we can’t offer you one at the moment” answer as I would usually expect. I’ll contact COps again now and see if there’s anything they can do…
See you in about a week then, eh?
I imagine so at least I get to experience the new chat function for the first time
I’ve asked the help in app but I didn’t mark it urgent so it’ll be a while.
Me too… let’s see who gets a response first