They don’t have to play ball, but considering the values Monzo say they have, Monzo should be playing ball.
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I did say your issue was niche in my first response.
Because the -FCA- meant ombudsman - agrees in your case, doesn’t mean they can force a bank to build from scratch.
They don’t have to kiss everyone’s 
.
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On the contrary, in the ombudsman’s decision they seem to think the FCA can force them to fix this! Or at least include it as part of the overdraft agreement (which only references midnight; no mention of time zones)!
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Not at all. Although I have taken the lack of Badger Pay personally.
This seems to me to be clearcut: they state that they’ll take overdraft fees based on the balance at midnight. But they don’t. That’s just wrong. They have the opportunity to change the terms or the software.
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It’s not about the money.
It’s what is the right thing to do.
If in 2 years from now, this blows up because someone else realises and does a sad face to the Daily Mail, then this will get massively out of hand and it will be a huge PR mess.
It’s one thing to not know/realise/understand, it’s a totally different one to not fix it afterwards. Whether Monzo do or don’t is another matter.
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But that isn’t what this is. It is about being fair to the customer. If Monzo just sits back and doesn’t do anything, they are going completely against their own values and are just getting more and more like the high-street banks they claim to be completely different to.
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There are things that Monzo chooses not to implement, or fix, and willingly pay a fee to keep the customer happy every time - this has been stated before - complain, and it’ll become a financial cost of not fixing it that Monzo can apportion.
£50 here and there, is nothing to Monzo + not a reason for them to spend ages trying to fix it, and cause all sorts of issues.
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You’re confusing things. The FCA hasn’t made this determination, the ombudsman has. The ombudsman can’t force Monzo to rectify the situation. But the regulator certainly can. And that would not be about kissing the proverbial: it’s about making the required adjustments to stay in business.
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The ombudsmans opinions are expressly that.
The ombudsman can’t cause change, and it’s unlikely the FCA will entertain someone’s opinion, because monzo had to run this by them years ago to go live with it so they are already aware.
You say that like no bank ever has ever made a mistake that’s fallen foul of the FCA. It happens a lot more than you think!
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I’m doubtful that the FCA looked at the code. And I’m equally doubtful that they would consider this right and proper. Whether they’d actually get involved or not I don’t know.
I do find that the attitude that banks can do whatever they want at whatever disadvantage to the customer is an odd take, though.
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That’s completely turning words and thoughts into something else.
The FCA would’ve read the terms and acknowledged what the process is and gave go ahead.
Don’t twist and turn what others say to suit your own ideology.
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I’m sure they did the same with N26 Metal too. Didn’t stop them from later forcing N26 to refund all metal customer with Interest less than a year later.
I don’t actually think every single thing gets run past the FCA for approval though, maybe you know something I don’t. But even if they do, it hasn’t prevented these things.
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Whoa! No ideology here!
I really think we’re talking past each other.
The terms are right and reasonable. But the software doesn’t act that way. It would only be the first time that the clocks changed that it would be noticed. I’m not sure that either Monzo or the regulator would have been aware of that.
Listen, it’s fairly niche but it’s to customers’ detriment. I don’t know why we’re arguing over it - if this blows up in a few years and Monzo is obliged to refund everyone then the reputational damage would be high.
The mature thing to do is accept that there’s an issue, scope the fix and schedule it in.
That’s all in my opinion, by the way.
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I’ve now gone ahead and reported it to the FCA thanks to the lovely encouragement and motivation from @Carlo1460! 
Probably not gonna be anything I can later update folks on because the confirmation email for my report says this:
Please note, for reasons of confidentiality, we can’t discuss any action we may take as a result of the information you give us. We also can’t resolve individual disputes you have with a firm.
Hopefully, at the very least it goes towards potentially prompting Monzo to actually fix it, if they weren’t already going to.
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Well this was a wild read on the way to the airport! Monzo don’t need to make this right to kiss anyone’s or because customers “moan”. They have to because it has real, financial impact on who knows how many customers.
I’ll take this to the extreme. If someone got cancer from an additive in a beverage, would you still agree that the company don’t need to fix it because one customer complained but the rest don’t notice so it’s fine?
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Earlier in on the thread you were suggesting the OP take it to the Ombudsman!
Reading your responses to this today I can appreciate why you and Monzo are no longer contractually conjoined.
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At this point, I wonder if you’re the first person ever to have been caught out by this, or simply the first person to shout about it.
How hard would it be for monzo to audit this and make sure that no one else had been charged incorrectly?
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I think that’s it, they didn’t know this was an issue before this was raised.
As for catching it, I think you’d need to find all users who were at a <£0.00 balance at 00:01 (Monzo time) but not at 01:01 (Monzo time), each day, per user, during BST.
(I think anyway, if I’ve understood it)
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Maybe, but surely I’m not the only person who plans out tomorrow in bed before they go to sleep! Which for me involves moving money around to where it needs to be before my income hits in the early hours of the morning. Or maybe I am?
Unless I’m working overnight on something my wind down is routinely from 00:30 til 1am-ish. Getting it all done then beats doing it when I wake up.
Or maybe others just don’t realise or notice and assume it was their error, not the bank’s.
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