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sorry to hear that happened, i think since it was a monzo business account you sent the money to they should of refund your money and on another note any one can register a company on company house because they don’t verify the information that’s been registered, i saw this in rip off britain, reviews i never really trust them, i usually check a website called scamadvisor to verify a website, and when it comes to social media purchases always be wary about them any place that asked for bank transfers as payment, i would always think twice before paying as that’s like handing cash over, but since this is a clear scam and it’s with the same bank i don’t see why monzo shouldn’t try to recover the money for you. you’ve done more than what the average person would do to research a company, for me anything to do with online purchases i never use bank transfers no matter how great a deal is
For whatever reason Monzo don’t believe your version of events there’s other posts on here where they have refunded money from scams etc. Nothing much we can say as customers as you have your version and Monzo have whatever evidence in the background for them to doubt it.
If nothing else you’ve learnt a hard lesson never buy anything off social media as a lot of scams live on that, always do your research by googling for firms to use, check reviews etc etc and if it’s too good to be true then always think this is a scam
Having been bitten buying from social media although not to the level @Kae.Kaeh is describing I would never do it again, and I would advise anyone considering doing so to utilise stringent checks before parting with cash.
I suppose by the law of averages some purchases will be sound and good value, and I do appreciate in these times that folk are trying their best to make a living or at least make ends meet but it is tricky to get right.
Maybe the best way to approach it is to treat it like gambling, which is what it is essentially, and only part with funds you can afford to lose.
Here is the issue I think. Monzo tried to tell you that you weren’t paying who you thought you were and you did it anyway.
The difference between this and the scams that people have had refunded (as far as I can see) is that they were tricked out of money, they had people call them and pretend to be Monzo.
You contacted a company and paid them despite a warring from Monzo.
I’m wondering whether they aren’t treating it as authorised push payment fraud and following the code because they don’t see it as an APP scam. Rather a more general social media scam where the OP knew who they were sending money to and the money did end up where they intended, but goods weren’t provided in return.
Either way my advice would be to never buy from Instagram. There are so many other reputable companies to buy/lease a car from. I personally don’t see the need to make such a significant and high value purchase with a company found on Instagram.
I think @RichardL has probably nailed it.
There’s a similar problem with people buying motor insurance from vendors on Facebook. It’s not real motor insurance. They get sent false documents and remain uninsured.
I’ve never bought anything over any form of social media but I appreciate it’s a growing area for legitimate business and, unfortunately, for scams as well.
Sorry to hear your story. It’s always really unfortunate when scammers catch someone out.
Reading through it, there are more red flags than at a communist parade. You should never buy anything of value off social media unless it’s a physical product you can verify yourself. Dealing with multiple people over WhatsApp is also dodgy.
Pointing to companies house is worthless as although it’s a government website, basically 0 checks are done. I’ve seen companies with a 2 year old as the registered director.
1 review online is nothing - they could get many more from friends and family even.
Finally, LinkedIn is also worthless, I could claim that I am the President of the United States if I wanted to as no one checks that either
As this doesn’t appear to be an APP scam, I’d report it to Monzo and request a chargeback (you never know, it might work), and report all of the details to Action Fraud.
If you are unhappy with the response from Monzo, make an official complaint, and if you are still not satisfied, escalate that to the Ombudsman. It will all take time, and there is absolutely no guarantee of success, but I think it is all you can do.
Being scammed like this is like a kick in the guts, but life sucks sometimes, and I’m sure you’ll come out of it a wiser, more resilient person.
chargeback are only for card payments, this was a bank transfer which is like handing over cash, they can make a complaint and if that don’t work then the ombudsman otherwise there’s nothing else can do right now
I get that warning when paying Amex and Barclaycard which is setup with the exact names those companies state on their websites. Does this functionality actually work? Not asking you specifically for a reply. Rhetorical question.
I was paying who I thought I was. Monzo confirmed that the business account name matched the sort code and account number given. Which means when they opened the business account they would of had to put in the business registration number and send ID. All which would have had to match for them to open the account.
No it was monzo who said to me its being treated as APP Scam.
I know now how dumb I was…will never nake that mistake again
Yes making a complaint now as they have confirmed they are not giving back the money.
My biggest gripe with this logic from Monzo, is that for all the businesses I’ve paid, I’ve had this warning. It’s now got to the point that it’s “just the norm”. The other day, I had the warning after typing someone’s details wrong and “continued anyway” because I’ve become use to it, before realising what I’d done.
If it’s going to be used as the descriminator between who’s responsible for APP and who isn’t, it needs to work in all scenarios.
I too share this gripe.
I think there’s also something written / planned for the APP code that means banks have to give a reasonable warning if they believe fraud, and not just put a warning on everything.
Need to get a source on that, but I’m sure that’s the intent on the APP code, and part of the reason why the whole Name matching thing is important/coming in.
Yup. If you condition people to ignore a warning then you can’t blame them when they do.
I think with HSBC it shows you the name being returned, so you can make a choice whether to continue or not. It makes it clear if you ignore the warning you’re on your own.
I do feel for the OP, I know people in my house have nearly fallen for these but thankfully my firewall has blocked any remotely suspect pages or ads, so you can’t follow up on them.