Fraudulent transactions?


(Mr P T Brookfield) #1

Just come back a week in Tenerife (Spain) and everything went beautifully from the Monzo end. I can’t wait to test out the card somewhere else! When I first told my Mum about Monzo, she initially thought it would be a load of rubbish but she absolutely loves it now she’s had the chance to use it!

I should explain: I’m visually impaired and it’s likely that if someone wanted to enter an incorrect amount on a transaction, I would not be able to spot it.

What is the procedure for reporting incorrect transactions? How does Monzo deal with this? Would I get my money back? If something is supposed to cost me £20 but they bill me for £200, how can I report that as being false?

Many thanks in advance.


#2

With your in-app chat you can discuss transactions with customer service or you can call customer service 0800 802 1456 and speak to them about any transaction and they will investigate for you. Alternatively email help@monzo.com


(Mr P T Brookfield) #3

OK, so my understanding is that it isn’t something I should worry about unduly?

Basically, the reason I am asking this is that my father ‘bought’ a tablet for about £50 (the Pakistani scammers in the shop said), but these fraudsters took over £2,800 from my parent’s joint debit card in Tenerife. It took about four months and a lot of wrangling (our parent’s debit card company were very unhelpful), including an expert technician’s report, and sending the useless tablet back to Tenerife recorded delivery and signed for, for them to get their money back.

I assume that if I bought something from a merchant using Monzo and they charged me far in excess of the agreed price that I would be covered? How much protection would I have compared to a debit card?


(Rika Raybould) #4

You’re covered by MasterCard’s Chargeback Protection. The question is more how willing your card issuer is to go through the process and how easy they make it.

Right now, the process is handled on a case by case basis with an external form, however there has been talk of moving it in-app after the current accounts and debit cards have rolled out.

More information is scattered around the community in discussions about credit cards and how well a debit card could match the protection offered by many credit card issuers (spoiler: shockingly well).


The Overdrafts Pricing
(Mr P T Brookfield) #5

So it sounds like I shouldn’t panic, and that we will be covered. :smiley:

Many thanks.


(system) #6

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