There’s a banking code of practice around this situation. From memory, Monzo follow it (though they haven’t signed up to it).
Simply put, if the customer has taken reasonable precautions (checking the phone number and email address looked like Monzo ones, for example), then the bank takes the hit and returns the money.
Don’t forget that this other account holder is likely to be a victim in this scam as well.
Edit: This is quite comprehensive
Interesting, in my case the money was transferred to Metro bank, not sure if Metro bank detected anything on their side as well and speed up the process.
Yep it’s called the “Authorised Push Payment (APP) Code”
Monzo aren’t a signatory, but do, per their own words, “follow the intent of it”.
I’m not sure how well the scam of obtaining someones magic links fits under that code, but it’s worth reading what it covers and being super clear to monzo that it would fall into the code / they should cover it as per their intent. (If indeed it does fit).
Why ask?
I have looked up APP code of conduct, and the fraud team asked ma about my behaviour. I let them know that I have been sick and during our conversation, I kept challenging him and ask him to explain why should I do what he told me to. His explanation sounds legit and he kept using “meanwhile we are talking someone is trying to swipe money off your card” to pushing me and rushing me. I thought I was a smart person but I guess they are much more experienced than me
Thank you everyone under this thread! I have created a new topic and talked about what happened to me with details. Got Scammed £1,256 the day before yesterday
When I had an issue on a Saturday night with someone emptying my account whilst I slept, I had the money back in my monzo account within 6 hours of reporting it.
No one seems to be advocating it, and I appreciate most fraud involves money transfers, but the first thing I did when i saw fraudulent activity was to freeze my card.
Hi were u number spoofed by someone pretending to be monzo?
Yes indeed
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