…are there a lot of people here who think that something should be a certain way because it’s exactly the way THEY want it and therefore every other option is wrong? You know, the ‘sod everyone else, if it isn’t [this way] it’s rubbish?’. When did we all get so blinkered and inconsiderate to the workings, habits, and thoughts of others?
Also, is there really a trend of frozen accounts and rogue transactions, many of them being reported in the forum by first time users? Is this something I should also be concerned about? Or, you know, not?
OK, the rest of the my post is a little tongue in cheek but I do wonder if the above is more of a concerted effort to bad mouth Monzo from within its own forum??
People’s accounts get closed for whatever reason by any bank following UK regulations, it just happens to be the case that Monzo has a forum (while most traditional banks don’t), so the only time you hear about them is when someone manages to get the press to write about it.
AML (Anti-Money Laundering) regulations with the aim of preventing money laundering
KYC (Know-Your-Customer) regulations related to ascertaining the identities of customers.
This blog post briefly explains what Money Laundering is.