Looooong time of answering...overdraft question

Yesterday i open chat in my Monzo App, and tryied to speak with customer service about my overdraft.
So i opened chat at ~09:00 and wait for the answer, but answer came after 4 HOUR!!! You can imagine that it last so long? And for my next question - almost 6 HOURS!!! Better for me that i have just a question about overdraft - but if it was about card or payment problem, what to do?
For me is terrible this situation, and when I’m thinking about ADs in underground station like - “we are here 27/7” I’m laughing well. Yes for sure may be support center is working 24/7 but you’ll wait a day for answering…

And about overdraft, i have regular overdraft rating for my region so i intendent to ask about overdraft, and they said - “we are low low appetit for risk…” WOW guys, you just got 1bn price for bank with last investment for 100k million and you cant me offer overdraft for 500£… Its very amusing situation, i cant believe that with 2million customers Monzo have big problems with it.!
About proofs ill attach some screenshots.

Monzo are not obliged to offer you an overdraft.

If you have overdraft facilities elsewhere, this may have an impact on their decision making process.


This type of enquiry is probably part of the reason why support is so slow.

They’ve determined you’re not eligible, you’ve just got to move on.


They’re valued at 2ish billion - that doesn’t mean they have 2 billion in the bank sitting there. Also the money they lend to people is the money that customers have in their account so they need to be careful with how much money they are giving out to people.

If all 2 million customers had a £500 overdraft (the maximum is actually £1,000) that is £1 billion lent out - which as you can imagine, is quite a lot of money.


It’s crazy how people expect an overdraft these days, like it has become the norm and you couldn’t possibly survive without one. :exploding_head:


In your opinion, what would have been an acceptable time for Customer Service to answer you?

Instant or near instant


Monzo not obligated…but what is monzo then? Bank service just?

No matter what type of theme i have to discuss - my overdraft or another problem. Its about time of processing

I think all guys on this topic what to make me believe that im not right and monzo is.
I attached money theme to show that they with SO value want to risk with ~ 500£…and this is named “Bank”

Reasonable time - not 4 hours and another time 6 hours.

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No one is saying monzo is right however no bank is obliged to give you an overdraft and every bank will score you differently depending on their own risk appetite. In this case Monzo have a pretty low tolerance to risk when it comes to lending. You will also find this appetite to lend can vary several times a year as banks reduce lending to maintain a healthy balance sheet.

With regards to response times - the way monzo have built and sell the chat means it has the appearance of being live chat and with it an expectation of fast response times. Had the decision been to go a ticket based system I don’t think there would be such an expectation of very fast response times.


There’s isn’t a “right” or “wrong” here - Monzo decide who to lend to and that’s their decision to make unfortunately. Albeit COps should have got back to you quicker

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If you already have an overdraft with other banks, why do you need another one?


Fair enough.

There are obviously a few issues here.

  1. slow response times. Unfortunately, we know this. From what I can see, there are many people that are bombarding Monzo support with absolute crap which is contributing to the delays. I am by no means putting this query in this category. What irks me is that the one-thread based chat does not allow you to raise issues as urgent if we need to get past this several hours wait. From what I’ve read somewhere on here it looks like the staff aren’t closing chats? Anyway, I don’t mind the idea of raising a question and getting a response in a few hours, but for something urgent i take issue with this. I’d probably call up if it was that urgent though. Something like this though? Surely not urgent… A typical bank you’d be on the phone waiting for 10-20 minutes but chat is surely far more convenient? I totally agree that chat times rivalling/bettering other banks’ call wait times would be the ideal. I understand there’s a great on-boarding of staff currently to help this.

  2. overdraft limits. Well, yes - they’re a conservative bank shall we say. My personal experience here wasn’t the best; there was a bug somewhere which declared me ineligible for an overdraft but Monzo couldn’t work out why. After a few months of raising this it got referred and immediately I had an overdraft available to me. Didn’t match my £10k overdraft I had previously elsewhere but I don’t mind that - as said many times before, they’re a conservative lender.

Unfortunately as an immature bank we have to accept these sorts of limitations - it doesn’t affect everyone, and you’ll probably find that people affected by these sorts of issues are probably in the monitory - the pull of this sort of bank is the information-heavy presentation of your finances and how to manage without the credit-heavy facilities offered by the big players in this industry.

Please don’t be put off by initial expectations not being realised :slightly_smiling_face: i’ve never been more in-control of my finances since joining Monzo - just give it a go.


You can mark chats as urgent

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Not in all cases. I haven’t had the option for months. It’s just a continuation of the previous discussion.

I’ve not had mark as urgent at all in the new chat functionality either.

Oh maybe they have changed it. I don’t use chat much so didn’t know they have updated it