Right, another situation where I needed to have a conversation with my bank, and again, I have found the reading comprehension on the folks on the other end of the chat is basically equal to zero.
The question posed to was the following brain teaser:
"I got my limit raised for a transaction I need to do on Friday the 15th. I got my limit raised to X pounds. Now, since getting the limit raised with monzo, the vendor of the item I am buying, have found a slight issue with the order and have sent me new invoice, which is 2 pounds higher.
So, my question is, do I need to apply to have my limit raised further, or since its only 2 pound more, will the transaction still go through?
"
So, far the responses have been âplease try the transaction againâ, followed by âto make a large transfer, click this link to request a limit increaseâ and finally, when I pointed out I already had one. I got put in a queue to âsomebody that can help me betterâ.
This, again, is not a hard question. I assume everything will be fine, as the limit increase will still have some buffer for other transactions on the day.
But, basically, we have no means of talking to our bank.
Iâm out. I have zero trust in Monzo at this stage.
ah well , enjoy the competition , having experienced other banks apps âŚllloyds usually send me notifications about a couple of hours after the transaction âŚyou will be back âŚif they let you return âŚmost banks have absolute limits , if you have to go over them they wonât allow it , maybe you should have asked for a ÂŁ2 extra higher limit âŚ
maybe you should have asked for a ÂŁ2 extra higher limit âŚ
so, I âjustâ should have predicted the vendor made a mistake, and had to send me a new invoice which was two pounds more than the originally invoiced amount.
Sure. makes sense. Silly me and my lack of clairvoyance .
and now we are getting to the crux of the issue. By bank isnât able to advice me on this.
I mean, itâs easy, I sorted it out with the vendor already, they grasped the situation straight way, and we resolved the âissueâ in less than 2 minutes.
But the fact that Monzo cant give me a clear answer to the above enquiry is ridiculous.
why do you need an answer - raise your limits request âŚgranted âŚrealise it wasnt enough , make another request âŚgranted or refused âŚwhy do you need somebody to say âŚyes thats ok âŚit will either be re raised by Monzo or not âŚ
Monzo customer support isnât going to win awards anytime soon so always start from that point. I find simple and clear is the absolute way to go. Tell Monzo what you want.
In this case, itâs not really a question - if you have a limit, that is your limit. If itâs 2p over it wonât go through, let alone ÂŁ2.
You would likely have best gone âPlease increase my limit by ÂŁ2 further to ÂŁXâ. Itâs clear and the operator knows what you want.
If the service isnât good I recommend making a complaint - they do eventually answer those and often will try to make it right (usually throwing a small cash amount at you).
A limit is a limit. If I had a cash withdrawal limit of ÂŁ400/day I wouldnât expect (or want) it to allow ÂŁ420 of withdrawals.
In such a circumstance I would either make 2 payments to the vendor or use an alternate account (although you would probably have the same limit raising requirement).
I get your point of - the bank being able to advise me on this
different people approach problems different ways , which doesnt excuse not being able to contact, or get a timely reply from support for your ÂŁ2 problem
I know this isnât the point of the post, but wouldnât the vendor just take ÂŁ2 off?
I mean, by the fact youâve had to raise your limit would suggest itâs large amount, so is that ÂŁ2 going to make a difference?
This was exactly what the vendor did. As per my reply in the thread above, they understood the âissueâ straight away.
The problem isnât hard to solve. For me, the issue is, which seems to be lost on a few people here, was that that the person I attempted to talk to on monzo side, didnât understand what I was asking.
Ive had the same before , Customer support is fairly poor , I agree
however I dont think there is a block for re applying for a higher limit once the limit has been agreed by Monzo previously ⌠you arent meant to know that as a customer though âŚ
would you use the raise limit flow on the app to re apply or wait for somebody to say yes we can raise your limits over the limit you have applied for âŚhmmmmm different folks different strokes
cant wait for you to try this âŚ" This, again, is not a hard question. I assume everything will be fine, as the limit increase will still have some buffer for other transactions on the day." lol it doesnt have any buffer , I couldnt pay for fuel on a card because I had gone to my limits âŚ
And this is actually what I take issue with. I spoke to the vendor, using the exact same langue and they understood immediately what I was saying. Similarly, the people in this thread doesnât seem to have a problem understanding what I was saying.
I donât want to sound pedantic here, but I donât think its idiotic to not make any assumptions about how the limit increase works, and just ask your bank what the appropriate next step is. As far as I see it, the limit increase could be excused in a few different ways, for example
The they raise the limit of your total daily transition spend, to the value of the transaction you have reported to them (they ask, specifically, what the value of the transaction is). Meaning, you can do 0 pounds worth of transfers next to this on the day
They allow one transaction of the exact value of what you requested, next to your normal daily allowance (in this case, I could just make two transactions).
and so on and so forth. All I really wanted, was my bank to tell me what the appropriate next step was. Thats all.
Most people wouldnât raise the limit beyond what they need because for this sort of request you are often asked to provide evidence, etc which is an easier conversation if it is matches the limit requested.
Anyway, thatâs a distraction from the real point here: you canât get a quick answer to a simple question from Monzo support. This is a problem.
Blaming the user, for needing to contact support, makes absolutely no sense in this instance.
I certainly wouldnât want to start doing another limit increase request without explaining the situation first as Iâd be fearful Monzo would flag that as suspicious and freeze my account, or even close it for suspected fraud. Trying to raise limits and then transfer money out is exactly what a fraudster would do, so this situation would need to be handled carefully to avoid triggering fraud algorithms.
Iâm assuming this payment is large enough that youâre talking over a ÂŁ10k transaction?
If thatâs the case weâre talking a significant purchase here - and from that who stands to benefit from facilitating your purchase the most?
The Vendor, who may risk losing out on the profit generated from that sale - and as a result youâve probably got access to some form of sales person or account contact as a result?
Or Monzo who have the fraud risk and may only benefit from payment processing fees which I assume are small change in the grand scheme.
And this gripe with Monzo and their systems is a result of the Vendor making a mistake? If they had given you accurate info in the first place you wouldnât have the problem I assume?
Iâll all on board the âMonzoâs chat can sometimes suckâ train, even more so the large payments are a pain one - but of course the vendor will be able to do more to help you here - they made the error and have greater motivation to help you solve it, surely?
Plenty of issues I wish support could solve better tho - my biggest gripe is the seemingly âauto script being send when you trigger a keywordâ thing.
