Continuing with the “saga” of trying to set up direct debits in the Mondo Current Account; I have today received back the following message re; a failed attempt.
Unfortunately we are unable to change the account details to Monzo Bank Limited as our system is not accepting these account details due to Monzo Bank Limited being a non traditional form of bank.
What does this mean? How will it get resolved?
If Monzo is to become the bank of choice for many people, who want a better way of banking; this is not going to be achieved if something simple and straightforward as setting up a direct debit cannot be easily achieved.
I know - already added to that - a list of organisations not recognising the sort code/account details is useful; but the reasons why is what’s missing. Personally I think knowing why is important so that trends/reasons can be explored and resolved.
It’s easier for them to blame Monzo than to update their awful systems. I say vote with your wallet and move to one of their competitors that does accept Monzo.
Maybe we should edit that “hall of shame” wiki page and add for each brand not accepting Monzo a competitor that does accept it.
First Direct is HSBC - an established bank. I think the “issue” is that Monzo being so new is just not yet being recognised as a bank in the eyes of some merchants.
Are they legally allowed to reject a valid sort code and account number? I’m pretty sure they aren’t so in that case just don’t pay until they change their mind and accept your account.
I don’t know about Starling but they may have registered their sort code and got all the databases updated before they launched. Remember, they only launched in April this year and the company had been going for 2 years before that.
By the time we roll out the current accounts to everyone, all databases should have our sort code by then. It’s just something that takes time.
You have to laugh at a “non traditional form of bank” though. What a nonsensical thing to say.
Good find - yes don’t think anyone is blaming Monzo - it probably is just one of those things that will take time.
Maybe the sort code should have been allowed to propagate within the banking “network” for a few months before CA’s were offered? That said, there will always be merchants with out of date data that will get updated over time.
I am curious to know why they bother validating the sort code to begin with. What’s wrong with sending the payment/direct debit down the payment network and see what comes back - if it bounces then you can say it’s invalid, and allow the user to change it?
@simonb What’s allowed delay between sort code appearing and other companies being required to make an update? If we get some details like ‘you need to update sort codes every month’ we can start throwing that at merchants. It would help a lot if it’s more legal requirement…
What a nonsensical thing to say.
