Due to my personal situation, I found myself in financial difficulty, and because of this, three defaults will be added to my credit file. I approached both my legacy bank, and Monzo about whether this would impact on me keeping an account open, as it show a poor credit history on my file.
I had a conversation about this with my legacy bank and was given a very rude attitude of 'repeated defaults will cause us to look at the banking relationship very closely, and ‘to be clear, if we make a decision to close your account, you will be informed in writing’.
The response from a Monzo Customer service agent was completely different , I was told ‘I’m really sorry to hear of your difficulties. Your Monzo will never be negatively affected due to financial difficulties and other events and our priority is to make banking easier for you and that my account will remain open, it is unaffected by the credit file, and that external credit history is only taken in consideration when applying for an overdraft with Monzo’.
This is why Monzo is streets ahead of legacy banks!