Monzo Bank Statements (For Mortgages or anything else)

If they only allow banks that ‘their staff are aware of’ then there’s something wrong there alreday!

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Do not use Monzo as your main bank account if you want to make a Mortgage application, loan or credit applications, Visa application, proof of address… no printed copies will be accepted.

You can request a hard copy and Monzo even has a nice stamp for such purposes. :wink:

Take it you’ve applied for all of those things with a Monzo statement then? Or you just making that up.

Got everything few years ago… now I have to pay off mortgage next 25 years…
I’m not sure about Monzo statements, but I contacted Starling support about hard copy statements and they was unable to help me with it…

So is it possible to order original statements from Monzo ? From current account opening date ? Any fees?
I paid to my legacy bank for bank statements £3 or £5 per statement

Yes it’s possible, but will take a couple of days. Make sure to request a hard copy (with the stamp :wink: ) otherwise I believe they might just give you a PDF to print yourself.

Another rip-off from the banking world. A point I made in another thread, would these be the same banks that have been desperate to sign us all up to online statements for the past decade, on the pretext of ‘being green’, only to demand actual paper statements in order to assess a mortgage application, that they can then charge £5 per sheet for? Cannot wait for :monzo: Monzo to trash their business.

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So what you said about not using Monzo is not true and you just made it up.

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I was thinking the same, this whole “paper copy” nonsense is more about keeping each other’s legacy business afloat with bullshit fees rather than fraud protection.

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We have to wait for @anon3539020 response
Legacy bank requires statements for 3 months…
And to avoid big problems with mortgage application … better to use legacy bank as main bank…

I don’t see why Monzo wouldn’t provide a statement for the last 3 months, and as started by someone above did you actually have issues (and if so, we or Monzo can help and give advice) or are you just making this up, and if so, I’m curious why?

No issues at all. I’m very happy with Monzo. Mortgage is very serious step and to avoid refusal… until someone will prove successful mortgage application with Monzo statements…

I have no use for a mortgage so can’t try this myself, but I don’t see why it would be an issue, especially that now Monzo provides statements. My main concern if I was applying for one would be my overall credit history, if that’s good then the lender sees me as a “good” risk and shouldn’t have an issue no matter which bank I use.

I did not have a problem with any of my other banks with this, to be honest. Firstly, they all default to paper statements anyway, so you’d usually be fine by default.

Secondly, when the time came for me, it went like this for all of them

  1. go to branch
  2. ask for statement for mortgage application
  3. “sure, no problem. Let me just go and print that for you and grab the stamp. Do want me to tell you what rates we have at the moment, while we wait for the printer?” my answer to that question depended on the daily mood, but both yes and no were instantly accepted.
  4. 5 min later : left the branch with printed and stamped statements in hand.

For je avoidance of doubt : neither santander, tsb, or Barclays charged me a penny for this.

No more difficult or time consuming than Monzo’s approach…

I’ll let you know in about four years. That’s my ETA on my deposit goal. Soooo expensive to buy a home :house:

I am sure someone will beat me to the punch.

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With FD it was download PDFs, print PDFs, hand stack of paper to cashier.

No reason why Monzo couldn’t have the same available from the app…

OTOH that building society despite being quite quaint in some ways (they still use paying in books, and the standing order for my mortgage goes into a bank account which they have as they can’t accept them directly) they were very reasonable and probably wouldn’t have had a problem with printed CSV - they made it plain they were just after determining my spending patterns.

Yes for mortgages it’s as much about affordability as it is about credit history. That’s why some lenders want paper statements (archaic) and others are fine with a printed .csv file.

I always thought I won’t need any bank statements in future but I was wrong as usual. I was asked to provide statements for past three months for a private matter. I have been using Monzo as my primary Bank account for past three months so reluctantly had to ask for paper statements.

Up till now, I had not encountered any issues to get in touch with Monzo apart from few bugs and missing transaction data reporting. So it was the first serious query, I sent my first messages just after 10 pm yesterday got a response in under an hour asking for my photo while holding an ID. I did not feel it was necessary to provide ID again for statements which were going to be posted to my home address and had a long chat with 4 different COps arguing that Monzo should not ask me for ID verification when they already hold my details and I am chatting via Monzo App.
I felt like COps were trying to stick to a script although they were really polite but it still felt scripted. I had to explain a few times why I think Monzo should not be asking me this, and reasons were simple. I am not asking for a digital copy in-app, if it was an in-app thing I would have happily provided a photo but I think they could ask for other security questions like DOB, address etc… instead of a photo. I know Monzo only ask for DOB for a PIN reminder so photo for statement just didn’t seem logical. Also, I had requested it to be posted to my home address and if they need a photo for that then it’s just a wrong procedure IMO.
Most people get a lot of sensitive documents through post and there is always a risk but that’s not going to be eliminated by showing my face with ID.

One Monzo COop finally said that he can see my confusion and would see if the specialist team can do something.

I am still waiting if they will send me statements or not. I know would have been easy just to send a photo but if I believe something doesn’t make sense to me and no one can explain it logically then I won’t just do it for convenience and time-saving.

Another observation is that sometimes online/In-App chat is not quick and easy it just too much of a hassle, I feel. Some matters could be resolved quicker by actually speaking to someone on the other side of a phone. I know very outdated but phone chat can ensure COps have only you to pay attention and are not distracted by others waiting in a queue.
Monzo should also think about verification by other means like security questions or enter PIN in-app etc…

Edit: COps did tell me that we can expect an in-app solution for Statements next week :crossed_fingers:

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I am still not getting anywhere with this. It’s been raised as an official complaint now because I still feel Monzo failed to explain why I need to provide a Selfie with ID for statements to be sent to my home address.

I am tempted to post my chat transcripts here but will wait for Monzo’s final decision which can take up 8 days, I am told. (I was assured it will be much sooner though)

I am interested in hearing how has been this experience for others, Did you just provided Selfie and thats it?

I’m a little surprised that Monzo can’t/won’t provide at least a PDF statement either upon request, or with an automated button. Every time I’ve moved the agents I’ve been with have asked for statements. As I’m paperless now, I usually just print PDFs (which gives me the chance to black out retailer names, there’s no need for them to know that level of detail).

For your issue @SC95 I can see why they might want ID to ensure you’re not maliciously requesting private data to be sent by post, but then again, if you’re asking via the app, you’ve already got all that info right infront of you anyway. Maybe once they move away from Intercom to a custom solution they’ll be able to be sure you’re definitely the account holder if you’re initiating a support request, and it’s the risk of using a third party solution tied in with the app that means it could be a malicious request? Hope you get it sorted out soon.