I’m hoping this is an admin error but I’ve had a message from Monzo giving me 2 months notice then they are closing my account and my joint account. My wife has had the same message, closing her account too and our kids accounts. No mention of my business account.
Totally shocked we are both UK registered tax payers, Monzo have our passport details and national insurance numbers, I’m working full time and wife is self employed, combined income of £100k ish. Been with Monzo since the start, wife joined a few years ago.
Unfortunately it most likely isn’t a mistake and they have decided to exit you as a customer for whatever reason. They won’t be able to provide a reason.
Have you done anything unusual with the account? They won’t provide a reason but there would usually be one.
It could be that your name came up in a random name generator. It could be that you spent too much money at Greggs. It could be that someone you sent money to has been reported for fraud. It could be someone who sent money to you has been reported for fraud. Could be that you complained one too many times. Could be that you raised a chargeback too many times. Could be you froze your card to avoid paying something.
Monzo closing it with 2 months notice means they just don’t want you as a customer. No hard feelings, no bad activity by you - if that was the case you’d be debanked instantly.
2 months notice is just risk reduction or whatever.
Take the opportunity to find a different bank, while you hav 2 months to move.
It’s not. The language used suggests they don’t reside in the UK. If they come back and say ‘oh yeah - that’ll be why’ then we’ve averted another story about Monzo closing accounts for no reason and we can move on.
phildawson
(Sorry, I will have to escalate this.)
16
Wasn’t there a case recently in this forum where Monzo had cocked up the decision. I can’t find the thread
Has an account that’s a ~decade old
Partner an account for a few years
A Monzo business account that’s not affected by the closing.
Whilst length of being a good egg with their business should vouch a bit obviously you could be caught up in a transaction that’s tainted.
The very fact it’s personal accounts yet the business is apparently fine doesn’t seem right if you were a risk you would close both from a business pov
Theoretically they will. Because don’t you have to have a personal account to have a business account?
phildawson
(Sorry, I will have to escalate this.)
18
What I’m saying the system will show a person has a business account. So the decision would be done together.
If the person is a potential risk then logically you close the accounts not just 1/2, and wait a bit before realising they have another.
If anyone can help find that previous thread. I can’t remember the specifics of that one if it was a similar situation. Think it was in a last few months.
It’s possible it is an admin error, but extremely unlikely. I honestly don’t know how threads like this don’t just get auto closed. We will never have the answer, Monzo will never say the answer, it just goes around the roundabout of ‘what-about-ary’ and snide (but likely fair) comments around not providing the full story.
we are both UK registered tax payers, Monzo have our passport details and national insurance numbers, I’m working full time and wife is self employed, combined income of £100k ish. Been with Monzo since the start, wife joined a few years ago.
if you were a risk you would close both from a business pov