When I look at the loan eligibility it says under “Your income information”, “we don’t know enough information about your income”.
I’ve no idea what this means? I was asked for my salary information recently, so what I don’t get is if they don’t know it why not just ask me?
You can lie. They mean they can’t validate it.
You can change that by getting paid directly from your employer in to Monzo. Or apply for a loan elsewhere.
It means they can’t verify it, either by getting paid into Monzo or via information recorded to CRAs.
I was told 3 months pay will validate your income. As soon as that happened for me I was eligible for Flex, overdrafts and loans.
I see, my salary is paid into a different bank account and I don’t particularly want to change that. I wasn’t looking for a loan was just interested in what it meant. I think the app’s text could be a little more specific.
Looks like you were looking for a loan.
I have a nose at that area in the app from time to time. I’m not actually going to apply but just curious.
Same with the Flex credit limit. Although with that one I did decide to accept the new limit after a few days.
Is it unclear?
They say they don’t know how much you earn.
Given you don’t get paid into your Monzo account, they don’t.
Solution: get paid into Monzo.
You simply telling them isn’t proof of anything. You could very easily lie.
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