Back in September, I noticed a fraudulent payment on my account via paypal. It was to a company located in Israel (I live in the UK and have never purchased anything from this region). I immediately flagged this as fraud, and monzo refunded me immediately. Great! However, I have now seen that Monzo have cancelled my refund as the merchant has disputed my claim. I can very honestly say that I didn’t authorise the purchase and have no clue what it is. Monzo are refusing to look into this further and say that the matter is closed. It’s made me now want to bank with them altogether. I’m going to refer this to the financial ombudsman as Monzo have failed to supply sufficient evidence that I authorised this payment, tell me who this merchant is, or a proper reason why they took my money again.
The merchant has provided evidence to Monzo that you shouldn’t have had the money back.
Did the payment run through your own PayPal account?
Bear in mind a company based in Israel doesn’t mean you’ve knowingly bought something from Israel.
Hey @dxmm_y - I’m really sorry for the inconvenience!
I’ve raised this internally and we’ll make sure to look into it further for you.
I don’t understand what evidence they have as I never authorised this payment?
It could’ve come from anything you’ve done on or around the time the transaction was made.
I know I haven’t bought anything for the cash value, I keep a very tight lid on my spending. When searching the company name in google it comes up with a zodiac reading site… really??
Yes sir
If it’s gone through your PayPal account PayPal needs to dispute it, not monzo.
With PayPal, money moves from monzo to them, and they pay the end user.
Have you raised this with PayPal as a dispute?
The location of the merchant doesn’t mean it’s been purchased in that region.
Example of this was at the Silverstone F1 GP last year when I bought a cap from a merchandise stall. Monzo welcomed me to Holland as the payment was processed there despite paying by contactless at the stall in person in the UK.
You may find this is the case too, but it looks like they’re going to look into it for you regardless.