How protected is money in a bank?

For instance if someone created a direct debit with my details, use my card online and withdraw or purchase items without my permission: is the funds protected as in you’ll receive a refund?

Generally, yes. But there will be cases where the responsibility falls to the bank customer, rather than the bank.

For example, if you give your card and PIN to someone and say ‘don’t use this card’ - and they do - it’s your fault because you have allowed access to your account. But if someone else accesses your money without your knowledge and/or granting them permission to access your bank account, you’re protected against such fraud/ID-theft.

So it all depends on the circumstances and if there is evidence that it is a genuine fraud/ID-theft or if there is evidence it is something that the bank account user did incorrectly.


If you haven’t been negligent, then it’s safe.

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What caused you to suddenly have this concern?

Perhaps by sharing a bit of background we can help by explaining in further detail.

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If someone would set a up a direct debit on my :monzo:, Starling or Revolut accounts, I would notice it VERY quickly as apps would inform me :relaxed:

So I could cancel it within a few seconds :wink:

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I believe that if the bank goes bust, you’re covered up to £85,000 by FSCS (just check the banking licenses used, i.e First Direct & HSBC or Cahoot and Santander it’s between the two).

  • Quick edit on this: if you have say inheritance or money for a mortgage in I believe you can apply to Financial Services Compensation Scheme for assistance in getting it back!

In regard to APP fraud, some banks are signed up to a code whereby if you’re social engineered, or hacked into being scammed, they will voluntarily refund you.

Direct Debit Guarantee exists and I’m sure as long as there’s no negligence or fraud on your end, you’re fine.

Debit transactions are generally covered especially for fraud, as long as the bank can’t prove the transactions were made by you, that you’re lying essentially.

If I’ve missed the mark somewhere, I look forward to being corrected.



I deposited cash and I have never used pay point before just post offices in the past and the person who served me must have only been 17 and asked if I have proof of funds along with a Id that matches the card. He then said he has to take my address and name on a note pad as the machine has been playing up however he also asked for my account number and sort code which I thought is normal since I’m depositing until he wrote it down aswell so I’m kinda scared incase he was just trying to get information especially as I did some research and found the person on social medi which confirmed he was actually 16 and multiple Images of him taking illegal substances which didn’t help with my paranoia so was mostly concerned incase my money vanished such as a payment or direct debit I didn’t intend on setting up.

That shouldn’t of happened

If all of that actually happened then I’d suggest speaking to Monzo about it.

Even if they see no cause for alarm at least you have proof and have actively tried to prevent fraud should it happen. There will be no doubt that you’re complicit then.


There’s no need to treat your account number and sort code as private information - actually they are kind of public by design.

Direct debits can always be refunded instantly - it doesn’t matter if you have been ‘negligent’ etc as direct debit refunds are made without any investigation.

Card fraud or bank transfer fraud is different but you haven’t shared anything that would enable those by the sounds of it. So I think you are fine.

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I’m pretty sure that they do not require your ID or address when paying in at paypoint.

Did you give them your card to swipe? If so they now have your name, address, sort-code, account number and potentially card number too …

I think you are right to be concerned and I would speak to Monzo about this.

Edit: In fact I think I would freeze my card and speak to them just to be safe

They don’t usual since it’s not as so you’re withdrawing or getting a parcel