I have an ongoing chat with Monzo but not getting very far so thought I’d ask if this has happened to anybody else.
I had a regular credit card payment coming out via direct debit yesterday. It even showed in Monzo as debited.
Today I wake up and the payment has vanished from Monzo, as has the direct debit under scheduled payments. MBNA messaged to say that I missed the payment.
I phoned MBNA and they tell me that Monzo cancelled the direct debit and reversed the payment after it had been credited to my MBNA account yesterday.
There is sufficient money in my account so that’s not an issue and I certainly did not cancel the direct debit and request the money be returned.
I was told that I may get a late payment fee which is subsequently going to impact my credit score. I’m also in the process of remortgaging so a bit worried.
Live chat keep telling me that it was cancelled and offer no other explanation.
If mbna are saying monzo reversed it AFTER the payment was credit to the account, this would be aligned to a direct debit indemnity (to claw back the payment).
Or, the mbna system just assumed it was going ahead and looks like a credit then reversal, which would indicate you may have just cancelled the direct debit in error very recently.
It happens in a split second within the monzo app without a second opportunity to cancel or back out after pressing cancel.
Raise a formal complaint with monzo, as this shouldn’t be happening unless you’ve somehow raised a dispute on the direct debit.
You hopefully shouldn’t do if you make the payment manually, there’s usually a grace period. I’ve missed payments 3 times but explained to the provider why (all genuine reasons) and they refunded the £12 fee each time and no missed payments on my file.
If it was made and then reversed then would sound to me like you hadn’t canceled it If it was in the process of taking it, you cancelling it wouldn’t cause it to be returned after it had already been made.
As above, if you make the payment manually just to avoid your missed payment marker you’ll be fine.
Mbna will have an ADDACS reason code indicating it was cancelled by monzo.
Credit card systems will sometimes assume a payment is made on the day due and “credit” the amount until it realises the following day it wasn’t paid, and reverse the credit.
If it was in the process of taking it, you cancelling it wouldn’t cause it to be returned after it had already been made.