Sorry I’ve been a bit missing. I’ve spent most of the week battling with a few Customer Advocacy members at Monzo and I can’t lie, it’s been a very frustrating process.
On Friday, Nov 1st I required my limits raising to pay my mortgage after receiving an early inheritance, my new deal was specifically set up with this overpayment in mind, had it not been made in time my mortgage would have doubled its monthly payment, leaving it unaffordable and potentially catastrophic circumstances for my family.
I awoke bright and early Friday morning and pinged the required details to Monzo. I had actually done this both one week and one month ago (exactly!) stressing the importance of this transaction to Monzo and attempting to adjust limits in advance, only to be told “no” and reassured this procedure was straight-forward and would sail through.
It took 1 hour or so for Monzo to respond and escalate to a specialist. All going well.
The next three hours were absolute radio silence and the magnitude and importance of this payment was weighing hard on me. I’ll admit to having kittens when I saw transfers were due to be down on Saturday. (My flex day, if I couldn’t make the payment on Friday.)
However around 1pm Monzo came through and the transfer went out and was received without a hitch. Phew!
Afterwards, I fed back to the team that I found the process quite taxing and offered up some suggestions on how to improve. Primarily the ability raise limits in advance.
Monzo offered me £15 and gave me a bit of lip service that the team had been following their own guidelines properly.
I declined the £15 as I really don’t see why I should receive money and asked for a final response regarding the raising limit issue in the hope that it might see a different, less resistant to change, set of eyes.
Today I had £30 deposit placed in my account (wtf) and another letter saying that the wait I experienced was unacceptable (I never complained about that?), but essentially reiterating that the processes Monzo followed are as per their internal guidelines.
I’ve replied to say that I don’t want the money and I’m more interested in helping change the procedure. Unfortunately Monzo’s replies resemble an earlier statement.
I’ve found this feedback procedure pretty frustrating to be honest, so spent some time cooling down and straightening out my head.
Today, I chose to write to Tom on Twitter in the hope that something can happen. I’m well aware that I look totally pig headed, but I just don’t like this procedure and the lack of a decent response (and papering over the cracks with the unwarranted £30) is just so alien to me. Especially from Monzo who have always seemed so receptive to change for the better.
[Click on this one to open out, it’s big!]
Apologies for the mind dump. This has been a very frustrating period for me with Monzo, this problem seems too easy to resolve, even my legacy bank can do it.
A final screenshot after I reiterated to Monzo that I wanted policy change not compensation elicited this response…