I just got a message that Monzo are closing my account. This has never happened to me so a little shocked tbh. I have never used my account for Crypto. I always had about £12-1500 every month going into the account and there were a bunch of regular payments set up.
I know I’ll never know why they are doing this and they will not explain but it just feels so unfair. I have had my account since from early beta days. I invested in Monzo and believed that they were going to offer something exciting and were going to bring banking into the 21st century.
oh well…
I just started a full switch so that I can have the last laugh … just kidding I feel a bit upset but there’s nothing I can do about it so just wanted to rant here.
Actually, I intend to make it complicated. I know it’s my money which can get stuck somewhere but it’s only about £400 there and all the regular payments have been paid at the start of the month so just completed the switching form on my other account.
I don’t want to accept their decision to close my account (I know, they already have..) I want to ‘resign before I get the sack’
Not sure if I making any sense - Apologies!
Here my Monzo timeline over since they launched the current account…
It just feel wrong to fill those details. Kind a like admitting that I have done something wrong. I will not do that until I am forced to so full switch it is…
They’ll just keep your money until you give them the details
Be interesting to see if the switch works as your account is closed so it seems very unlikely. I wonder if the other banked will get a message saying the switch is declined as Monzo closed your account
Well, they will give money back eventually but I am planning to go long on this. Complaint process, FCA etc… and at the end of all that I will handover the details to get the money back. I know Monzo most likely will never tell me why they are doing this but no harm in trying. I’ve got time and money is not that much that I can’t live without.
I can’t see how you can “make it difficult for Monzo”.
You provide your bank details and they’ll give you your money. That’s all they will keep saying no matter what you do. You’ll exhaust yourself before they do.
I’m in “the switch will fail” camp. It’s surely not possible to switch from a closed account, and the estimate of how long the switch will take is given before the bank will have checked and found out the account is closed.
You are most probably right and I really don’t care if nothing will come out of all the complaining and going though this process. I feel angry and hurt so I want to waste their time and money on this as much as possible.
To be fair I’m sure they’ve wasted far more money on their own than @SC95 could ever dream of, and crowdfunding investors have no real say over that, I’d just look at it as starting the return on my investment, as is every £30 compensation payment It’s just how you frame these things
I know it’s not healthy at all and I know my psychotherapist will not endorse it but I genuinely feel I have the right to know (again, I also know T&Cs). I know most people will not believe me but I have not used my account in any way which would have caused this. I just don’t get this at all.
I’ve invested a couple of thousand pounds and still want Monzo to be successful but I just can’t let go.
I have read so many threads here about people getting their accounts abruptly closed. I never thought this could happen to me but now that it has I want to make sense of it. The only way I can do that is to try everything I can legally do and if in the end, nothing comes out of it, I will at least feel that I have tried.
It’s just how you frame these things 