Is Monzo a robber? Leave my money in Monzo and not transfer it to me!

I just want to transfer the money from my account out. I said, I can accept monzo to close my account. This is their right. However, I can also ask them to help me transfer the money in my account out as soon as possible. This is my money. I need money in my life.

This must be awful for you. It’s akin to how the victims of push payment fraud must feel after their accounts are emptied.

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Yes. I feel helpless. I just want to get my money back.

The process is, lodge an official complaint with Monzo, if you don’t like their response to that or after 8 weeks then lodge a claim with the Financial Ombudsman.

I think they misunderstood my complaint and gave the wrong reply. Can I let them give me a new final response?

No. They’ve given you your response.

They say 2-4 weeks because the situation is out of their hands and that’s when they expect to be able to give you the money.

Your account wasn’t closed for “no reason”, Monzo is not a “robber” and all you can do is wait.

At this point your only option is to complain to the financial ombudsman.

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Thanks for your reply. Because I can’t get the money, I am really upset.

The Monzo staff also said, let me continue to wait. But I am worried that I may need to wait too much time to get my money back.

I need to use money. This matter has seriously disturbed my life.

I really hope that Monzo can improve efficiency and give me the money as soon as possible.

Read the article that was posted earlier. It’s not just Monzo involved in the investigation which is why they can’t be precise with timescales.

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And to answer your questions whether Monzo is a robber. No! They have a legal obligation to protect everyone from money laundering!

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I saw a group called “Monzo stole our money” on Facebook. Many people’s accounts inside were closed by Monzo, and their money could not be transferred out. And the people inside said that monzo sometimes does not refund all money in the account. There was a person who had £4,000 in his monzo account, and in the end monzo only transferred him £2 after monzo closed his account.

I am so worried that monzo is holding the money and not returning it to me in full.

If you got a final response and it wasn’t resolved, there should be details on that response for escalating the response to the ombudsman. This is the next step for banking complaints after internal complaints procedures have been exhausted.

Will Monzo transfer all the money out?

Don’t read stories on the internet. You don’t know all the facts and people like to exaggerate and stretch the truth to create drama and get reactions.

Something you’ve done has triggered the alert, if you’ve done nothing wrong you’ve noting to worry about. Millions upon millions of others are fine - trust them over a handful on facebook.

There was a person who had £4,000 in his monzo account, and in the end monzo only transferred him £2 after monzo closed his account.

This means the NCA - not Monzo, but the NCA aka the police decided the money legally didn’t belong to that person. Ie. that person is a thief and Monzo rightfully returned the money to someone he had stolen it from.

Be careful who you listen to and support online.

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Yes. I have got a final response. But my complaint is to get my money back quickly, and the final answer is that they will not change the decision to close my account. Don’t you think monzo did not understand my complaint correctly?

Either way, the ombudsman is the next step.

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I just think monzo should communicate with me, it would be better to make a phone call to make it clear.

They have communicated. You just don’t like the answer so you ignore it.

You have two options.

  1. Wait.
  2. Financial ombudsman.

Or actually 3, do both of the above.

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Thanks for your reply.

Thanks for your sharing.