I was reading Monzo’s information sheet on FSCS Protection and number 1. of the Exclusions List section confused me.
It seems to be saying your deposit is excluded from FSCS Protection if you haven’t been identified as a money launderer, which doesn’t seem right to me.
Is this the case, is the information sheet wrong or have I misunderstood?
Also, does point 3 mean your earnings aren’t protected if you’re employed by, and are subsequently paid by, a company which can be described by those listed in point 3 (eg: credit institution, financial institution, investment firm etc…)?
NB: the numbers are also cut off when the information sheet is view on an iPhone 6.