Monzo Fraud Process

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1

I’ve been a personal and business customer for years, paying for premier and pro accounts respectively.

On the 23rd December, I was the victim of fraud and obviously reported it immediately to Monzo. It os a clearly fraudulent transaction, £500 to Iceland - one of the cheapest shops in the UK. You could probably buy food for 6 months with £500.

I’m based in Edinburgh, and the store that my money was sent to was in Flintshire (i have no idea where this is).

Since i reported this, i have had no refund of the transaction, even though a cursory search of my accounts would yield one result for Iceland - the fraudulent transaction.

January is the worst month for my industry, construction, and the money that was stolen was meant to be a buffer until work picked up. It was for fronting costs for materials etc so i could secure work.
I advised Monzo that they were affecting my ability to provide for my family and work and they’ve done nothing to help, and as a result I am having to suspend trading and get a job somewhere.

I don’t understand what could possibly be taking this long, nearly 6 weeks, to refund my money and Monzo have done absolutely nothing to help me. If you’re a Monzo business customer, beware; they will do nothing to help you should the worst happen.

3

If Monzo thought it was fraud you’d have it back by now.

2 Likes
4

I’m not on here looking for help, I am getting the word out to anyone and everyone who has their business banking with Monzo. They’re an absolute joke and have done nothing to help

7

Yes I want my money back, but some transparency on the investigation process, some support whilst they investigate, better communication and some customer service trained to do more than fob you off would have been nice.

1 Like
8

The issue is they don’t believe you, which is clearly slowing things down.

If they had an update either way they’d have told you the outcome.

9

I hope you feel better now after your vent. Yes, Monzo could probably do better educating people on the process and the importance of it.

I hope that you have a better understanding of this now and hopefully your claim is resolved soon :crossed_fingers:

11

Im in the process of going to the ombudsman, but i need a “final outcome” letter from monzo’s complaints department in order to progress it.

15

A fraud case can take ~3 months, but more often less than 8 weeks.

If it’s hit the 3 month mark and you’ve not heard anything, reach out to them for an update.