So for the first time ever ive had my bank account frozen. This has now been frozen by monzo for almost a month with no time line or reason given. Are they allowed to do this with not even stating a reason as to why or a timescale?
Am I better going to the financial ombudsman?
Yes, they’re allowed to. They’re not allowed to tell you incase it’s (not saying it is!) for potentially illegal reasons to stop you being tipped off etc.
Unfortunately money laundering, and similar laws mean Monzo have to make sure they know everything about the account & user.
You’re best checking your emails to see if you got an email stating what’s happening etc. Also, the messaging when you open the app may give some indication of what’s going on.
No one on here can help explain what/how/why you’re frozen, when it’ll be unfrozen, or if it’ll be unfrozen unfortunately - as we’re all customers on here
Best of luck!