Right, so I’ve just received an email informing me that Monzo are changing their T&C and fee schedule.
I appreciate some of these changes are not coming in for two months but was surprised to see others effective immediately (today).
I am disappointed Monzo didn’t take this opportunity to update its overdraft fees in the new fee sheet. It still quotes 50p/day which will no longer be allowed once the new rules come into effect.
The email says that the attached document (to the email) shows how the T&C have changed. Mine only seems to show the new version and not a comparison of the changes (unless my phone is playing up).
I’m not saying the changes are necessarily detrimental to customers but the document does have the word compare in its title.
The email includes the standard text at the end allowing customers to unsubscribe from such emails. If customers do this, how would Monzo inform then of changes to the T&C or other notifications they legally have to?
I see the T&C say customers can’t claim back money they have lost if “you gave us incorrect instructions or we can prove the bank we sent your money to received it”
Is this in keeping with the spirit of the ‘Authorised Push Payment Scam Code’ which I understand Monzo had joined/is in the process of doing so?