Im in the process of selling my Shares and they do not interfere in the price u set as they ask you to use an escrow service. Here is the emails i got from them.
Thank you for your email.
You hold the beneficial title to 130 E Ordinary shares in Monzo Bank Limited (“Shares”). You wish to transfer the beneficial title to the Shares for financial reasons (the “Transfer”).
In order to process the Transfer, we shall need:
- for you to select a transferee. For example, a friend or relative;
- if the transferee is not a permitted transferee under the Articles (e.g. spouse or child), the Company will need to consent to the transfer. If this is the case, please provide details of the transferee and we will request the consent from the Company;
- if the transferee is not already a Crowdcube member, for the transferee to create a Crowdcube account by visiting the Crowdcube website: https://www.crowdcube.com. Please confirm when this account has been created and provide the transferee’s email address;
- The transferee to pass our standard AML checks, and provide documents to prove their identity if required;
- The transferee to confirm they are happy to be bound by the Articles and any shareholders’ or investment agreement; and
- an executed letter of direction. We will provide a template when you have selected a transferee and received consent from the Company (if applicable).
I look forward to hearing from you soon with the details of your proposed transferr. Please let me know if you have any questions.
Thanks for your prompt reply.
Your shares are held under Crowdcube Nominees Limited and so will need to be transferred to another investor, rather than sold back to Monzo. You will need to find a transferee and we can put your request to the team at Monzo for review.
I am afraid that Crowcube are unable to deal with payments for transfers. Any payment arrangement would be between the transferor and transferee and not something that we can help to facilitate. This is due to our regulated status, we are not able to hold money for transfers.
If using an online escrow service, I am happy to wait for both parties to confirm that they are happy to proceed before completing the share transfer.
I hope this information helps? Please do let me know if you have any further questions.
Monzo is doing their internal checks on both me and my buyer and should message me back today. I’ll let you guys know if they do ask for any documents etc.