Loan administration for closed account

I was a Monzo customer a couple of years ago and closed my account with an outstanding loan balance.

My experience since then has been absolutely appalling, with unanswered emails requesting a settlement figure, great difficulty changing my address (Monzo won’t accept my instructions over email as they say it’s insecure, but expect me to send pictures of my ID via the same medium), and an inability to reopen a Monzo account for the loan as they can no longer link the loan account to my (new) bank account.

It seems they’ve made no provision for what to do when customers close their account. Has anyone else had a similar experience, or have any recommendations as to how I can get information from Monzo about how to pay my loan off? My emails to have gone unanswered.

Keeping me in the dark like this in 2023, with only an annual statement to go by, is absolutely unforgivable in my book.


If you make a complaint, they have (I think) 8 weeks to resolve it, and you can can then escalate it to the Financial Ombudsman Service.

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Email or

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I had exactly that! So incredibly frustrating. It wasn’t over an account closure, but something else. From memory it was a complaint which had been escalated - in-app chat had failed for me. They emailed me asking for more information so I replied to the email with more info and they replied back and told me they couldn’t accept it via email because it was not secure, whilst in the same email asking me they could accept it via email if I sent a copy of my ID (via email)! Infuriating.

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Why did you close your account? Wouldn’t it have been a lot easier to keep it while you had the loan?


That’s dreadful from Monzo.

Go to the ombudsman.


I thought the same, but traditional banks give you an account number to pay it to + a reference, I’d have thought Monzo would do the same as a fallback


Monzo definitely shouldn’t make it this hard. But OP made it harder on themself.


That’s the worst form of security theatre… not only does it not improve security it’s now less secure because you’ve just sent your ID on request over email…


You can’t keep the account open if you use CASS. Surely Monzo could have anticipated this and kept a loan-only service available on their app!

Oh they do, they made sure they get their money by standing order. But when it comes to giving me information about the outstanding balance or repayment amounts they’re not half as keen to take action to fulfil their obligations.

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Oh, I see…

They could just be busy. You could rough work it out, pay a lump sum and then wait til they reply to save interest accruing.

Do you want to pay it off or just check what you owe?

Do you use a credit report? That will tell you what you owe and the last update, you could work out what you have paid on top of that.

Hopefully someone from Monzo will see and come back to you properly because it’s really not good enough.


If OP re-opened an account with Monzo, I don’t see why the existing loan could not be linked to his new account

I read it that they opened a new account rather than re-activating their old closed one. Which explains why the loan is attached to a different account. Could be wrong :person_shrugging:

Yes, that’s how it went. The old account closed under the switch system and I asked if they could link the loan to a new account. They said that wasn’t possible.

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I wouldn’t say that’s “Making money work for everyone” sadly

I’ve just had an email from them requesting the selfie and ID, which I’ve again refused to send and have told them they shouldn’t be asking for it.

I doubt they’ll change these unsafe practices based on my experience, but I’m going to fight it anyway.

Once escalated they did send me the information I needed, but that was after escalation and a complaint.


It’s terrible they ask for it via email honestly, they could at least do it in a more secure way, like one of those ‘secure webpages’ other banks use for Authentication