I expect they might only if the numbers are good. They stopped updating these number not just for this but for things like customer service response times as well.
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Hi guys.
I’m a bit scared of Monzo now after watching watchdog last night. I don’t want to leave. But they made a scary point I don’t want to believe. What’s going on? I can’t be bothered to move bank I’m settled WITH Monzo. The wife wants us to move to a safe bank. Help! What is going onzo Monzo.
There’s already a thread about this here. Lots of people are feeling the same. 
Hi all!
As a non-UK resident, I missed all the watchdog BBC fuss.
Is someone willing to give a quick recap of the broadcast?
What I wonder about mostly:
- What exactly was featured in the broadcast?
- How is the handling of freezing accounts different for Monzo than for the other banks?
- What kind of mistakes were mention: mostly about blocking cards, or also other subjects?
- Were there any numbers about how this compares to averages?
Thanks a lot!
Your link is to this thread!
The risk is the same with any bank especially when bigger transactions are going in and out of your account in a short space and time, the difference is that Monzo customers are shouting louder (via social media) about it. I’d recommend having several backup options to tide you over (credit card, a second account with another bank etc.).
I have left my HSBC account open for such instances.
Monzo have provided evidence showing the risk is exactly the same and that monzo customers just complain more than usual?
I merged a new thread into this one
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Well, I’m nearly 60 
and I’ve posted positive reviews and mine weren’t based on “liking a cool app” but more on many years of poor service from high street banks. I’m also as far removed from a “London yuppie” as you could get, being a Brummie 
Monzo is different, yes there will be bumps in the road and this could prove to be a big one but we’re renowned in this country for bigging something or someone up just to knock them down again! It’s not whether you get knocked down, it’s whether you get up again. Just the rambling thoughts of an oldie!
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Where is this evidence? If anything Monzo customers treat Monzo as some cult and defend it or praise it wherever they can. Dont you think it is worrying that a bank with such a high customer satisfaction has those issues? Maybe some of the people that got their accounts frozen moved from another bank where they never experienced this sort of situation?
Just catching up on this story having seen the Twitter hashtag last night.
Do Monzo freeze more accounts than other banks? If not, it’s possible they’ve got in this situation down to pure communication issues (with the customers whose accounts are frozen, and in response to the story). They should have been on Watchdog pointing out that they don’t freeze accounts more than anyone else. If they don’t freeze more, they’ve ended up with a PR disaster that will damage the brand (and the concept of challenger banks on general I’d wager) for a long time seemingly just because their customer services towards the people whose accounts were frozen fell short. It’s all well and good us comfortably analysing the messages sent to people whose accounts were frozen saying they look reasonable… the way those messages come across if you’re a single mum with a 1 year old to feed and no way of accessing your own money is going to look and feel very different.
I don’t have an answer for how they should handle those situations off the top of my head, but bare minimum as short term damage control there should have been somebody from Monzo on Watchdog acknowledging their customer service may have fallen short with those individuals even if Monzo don’t believe it did.
If Monzo do freeze more accounts than other banks (as I’ve seen it suggested they might because there is at least a perception that they’re more susceptible to fraud), then they’ve got a bigger issue to handle, and digging in and implying you believe you’re not doing anything wrong is not the way to handle it.
Acknowledge that you only freeze account in extremely rare cases, and that you’re fulfilling your legal and moral obligations when you do so - but also talk strongly and positively on the work you’re doing to reduce the number of false positives, and that you’re reviewing how customers whose accounts are frozen are handled by your customer service team.
If you’re going to be on Watchdog you front up and demonstrate a degree of contrition…you can do this while being bullish about the fact you’re doing many things correctly.
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The irony, alls you did last night was post unsubstantiated claims.
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There isn’t any which was the point I was making in my question. It was my question to the previous poster suggesting that there was something showing what they we’re asserting.
Monzo could have shows this or told the bbc this but it seems they refused.
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Playing devils advocate here, but has anyone considered that if Monzo are freezing more accounts than other banks, maybe other banks are letting more money laundering take place?
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I’ve based my claims on yesterday’s story, but also on stories I’ve heard over the past few months. The truth is that we don’t have any other evidence, I haven’t seen any numbers that would confirm that Monzo has the same proportion of false positives as other banks, because this is where the issue is. Unless you can provide some?
No one here knows why accounts are locked.
No one here knows why some accounts are locked for a long time.
No one here will ever know, because Monzo aren’t allowed to tell you, by law!
For all we know Monzo may have been advised by legal bodies not to respond to the program. Guess what, you’ll never know.
People are closing their Monzo account because BBC told them a scary story, over dramatised to get a reaction?
Maybe Monzo should start funding warlords and providing money laundering accounts for organised crime like other banks do, then maybe poeole will feel more secure?
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This is the day I’ve been waiting for. They closed my account in August. They still haven’t given my money back. I’m so happy this day has come. They blocked my phone number, access to chat and ignore my emails. To all the people who rebuked it when i was warning people. Ha i told you so. Take your money out while you still can. If you have shares. Sell them before they bottom out. This is not the end for negative press for Monzo. Other media is going to run this story. Get out before monzo implodes and/or takes your money too.
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Also they was on bbc radio 4 last night as well. So much negative press coming for Monzo and its deserved
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Was a telephone call not referenced on the programme ? That’s a response in my book
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