Sometimes we have pending transactions which should not go through, such as when a vending machine fails to vend. Some days/weeks later you should get a “refund” when the transaction is not collected by the vendor.
It would be nice to help keep track of these by marking the transactions, then getting a notification if funds ever are transferred.
You can request it be refunded immediately. That used to be more or less automatic if you queried the transaction but I’ve heard you have to chat to someone these days.
I’ve not been able to get auto reversal to work at all lately. Just comes up with the red fail screen. I did ask for a reversal at the weekend and provided payment proof there and then and they refunded it within 5 mins.
Same, the automatic reversal hasn’t worked for months for me, get the red error screen and have to start a chat (I get duplicate Tesco transactions from time to time).
Automatic refund doesn’t work for me either, but chatting to someone is still reasonably quick
But even if you get a reversal automatically or from chat, the transaction can still eventually go through and charge you (though I guess it would be a new feed item and notification).
I think this is a great idea, maybe with a companion “mark completed transaction as expecting a refund”, just to let Monzo keep track of things rather than having to remember and monitor them yourself.
I’ve had to have a couple of things in the back of mind for 30 days just to check that the right thing happens with pending transactions/refunds.
The transaction could go through but monzo can’t do anything about that - that’s between you and the retailer. If word got around that monzo could arbitrarily refuse transactions on the word of the cardholder the number of retailers who would accept it would quickly drop to zero.