Fraud refunds


(Enrique Garbi) #1

Hi Guys,

Some time ago I identified 2 attempts of fraudulent transactions with my Monzo Debit Card.
Fortunately, they didn’t go through since I had not enough funds available.

I contacted customer service they sent me a new plastic and all went ok.
But then I asked the CS guy what it would have happened if the transaction had been issued.
He told me that it was nothing Monzo can do, so I’m reading here some similar cases where people were able to get the money back.
So, wondering now why this guy answered me with a “Nothing we can do”?
Has the policy changed recently

I would like to change my bank details now with my employer in order to get my salary deposited in my Monzo account, but I need to be sure first there is such a policy in place in order to proceed.

Could you please give me your inputs?
See the attached for details.


(Jack) #2

I would imagine the customer support agent is referring to the fact there is nothing they can do to stop the transactions going through if they think it’s genuine. They do monitor for transactions to detect if fraudulent but it’s not always possible to catch them all. In your case if you did have the money in the account they would have gone through.

You would get a refund as long as you weren’t negligent and silly by posting your card details in a public place :slight_smile:


(Danny) #4

I must be blind as I can not see this comment in those screenshots


(Enrique Garbi) #5

yeah, sorry, I wrote the text without before rechecking the chat.
What the guy literally said was “if you had money in your account these transactions would go through as normal.”
He didn’t mention refunds at all and that’s why I’m asking.
Just to make sure. Thanks


(Danny) #6

Which is true and the same with any bank and credit card.

If the funds were there they would get taken and then you would report them and the funds may/may not get returned depending on the situation.


(Enrique Garbi) #7

Thanks, Danny,
That’s what worries me the most.
I never leave my debit card stored online, I never share details publicly nor privately or even in a chat window or something like that.
Also, I work in IT, I usually use encryption (PGP) for sharing private data or password to my clients.
Again, I just need to make sure there is a policy there.
Since I came from Argentina I’m not familiar with that kind of things here.


(Danny) #8

My card has been used before both on Monzo and other banks, it happens and as they said you cannot stop it from happening no matter how hard you try. Sadly it’s a fact of life but the good thing is that you are covered in the event it does happen.


(Daryl) #9

Your experience has highlighted one of my favourite anti-fraud features of monzo (whether it was intended as one or not) which is that with pots I only ever have as much as I’m expecting to spend in my main account, and the rest sits in a pot. So I get paid on the last day of the month, then my big bills like rent and council tax come out the same day, then first thing in the morning I move anything left into a pot, and withdraw it as required. Once I have time to play around with IFTTT I’m sure I can even automate most transfers in and out.


(Jonathon) #10

Working from HCMC? Interesting.