I recently lose my iPhone on a night out which had my monzo account and iPhone/Apple pay Attached.
After being able to get a old phone working I got into my monzo and found there had been transactions made which weren’t me. So naturally as any person would I’ve reported this to monzo as fraudulent activity for them to investigate and find the culprit and to hopefully retrieve the funds someone has spent.
They’ve gotten back to me saying they won’t be treating this as fraud even though I’ve explained the situation and proved proof of what they’ve asked for.
Now they’re closing my account within 2 months with no explanation. I find this difficult that this ‘amazing banking service’ is just going to close my account like this.
I have a large amount of money in the Pots and saving isa, and I’m no longer with any other bank.
I don’t really know what to do is the main banks I’ve tried in the past won’t accept me for an account other than Lloydds, which I closed a few months prior as I had no use for it
Could also be poor credit rating. Best not assume as we don’t know. Monzo will accept people despite credit rating. Only banks with a basic account will, but you specifically have to apply for that account, though some will offer you one if you’re not eligible for a regular account.
Biometrics can be overridden with passcode, a surprising number of people still use passcodes that are easy to guess. We also don’t know that the unauthorised transactions were made using Apple Pay.
I’m not sure what to suggest, OP, but escalation to the regulator may be your next and only step. Check your credit file for any CIFAS too. Hope you get your money back out of your savings pots!
Transactions in-store. McDonald’s, some other unkn buisness I can’t find online or the map for the amount of £32 GBP via two separate transactions, with a few others. Totaling up to no more than £125GBP. But it’s still money during these times with covid
In the past I’ve brought crypto currencys just to see if anything comes of it. But I’ve not sold or deposited funds via it as I still have it. The transaction when I broguht the crypto was a normal bank transfer via local Bitcoin
I appreciate all the replies, I didn’t expect so much so soon. My credit score is below average but even then ,that shouldn’t be a reason to close a basic current account as that’s what it basically is I assume.