Not eligible for an overdraft

I cancelled my overdraft, in order to apply for a slightly bigger one, but despite having a pretty decent credit score, apparently I am not eligible. How come I have had an overdraft for 200 pounds for so long and all of a sudden I cannot get anything anymore?

maybe you didnt use it so Monzo decided to utilise your “allowance” to a customer that would use it ??? :man_shrugging: they had committed 280 odd million to overdrafts for customers in the annual report

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There’s no real way to know since we don’t know how Monzo decides these things. I believe they’ve tightened up their lending criteria quite a bit in recent months.

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I used it regularly, however, wanted to get a bigger one… now I ended up with no overdraft at all and I have to admit, it’s very upsetting, as I was paying off the overdraft every month and I pay my bills on time.

sorry I misunderstood then , you said you had cancelled your overdraft :man_shrugging:

yeah, from what I understood on the app, you cannot increase your overdraft unless you cancel the current one. I’m just trying to understand how it’s possible I’ve had one for so long and suddenly I am not eligible anymore

If you want a bigger one and every month you clear it and end up overdrawn again, then they probably think you can’t afford one.

I’m sure it says that if you cancel it you’ll be reassessed and might not get another one.

I don’t understand why you cancelled it?
You can change it without cancelling and it looks like quite a clear option to me.


If only it looked the same on my Monzo, I would…

I’m sorry to say but if you couldn’t change the limit, that implies that Monzo didn’t want to offer you a larger overdraft. Monzo has given out different overdraft limits to different people (some people here have had only £100, while others £1,000)

When you turned off your overdraft, that implied to Monzo that you didn’t want an overdraft. Your ‘new’ request would be based on your current use of the account and Monzo looks to have deemed you cannot afford an overdraft at this time. I could be wrong but that is what it seems.

You could possibly contact Monzo support within the app, explain what you did and ask them to consider you for an overdraft as part of the Coronavirus support banks should offer customers and see what they say. Submit a complaint if they refuse. There is nothing we here can really do to help.


Reading the MSE blog on this, I think you need to show that the overdraft is being requested due to struggles encountered by the coronavirus. I may be wrong. You can read it yourself via the link.

As you have been clearing your overdraft every moth, prior to its cancellation, I think you may struggle in this aspect.

As others have said though, try reaching out to Monzo, explain what you were trying to achieve and, at the worst, get your £200 overdraft reinstated.

I’m not sure making a complaint if you don’t get it would be of any use, however, that’s a matter for you to decide.

All the best with your finances going forward, whichever way it goes.

I am one who has never had an overdraft in over 30 years of banking, so will never appreciate (or understand) their value to those that do use them.

Just because you are just about clearing it, doesn’t mean you are not in trouble due to the crisis. A lot of people do not like seeing debts or could be ‘robbing Peter to pay Paul’, so juggling debts about.

We don’t know everything about what @browciu’s specific circumstances are, the crisis is still ongoing, so the advice is valid. The complaint would be if Monzo rejected a valid Coronavirus support which they are obliged to do right now.

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My overdraft used to be 2000. After a while when they brought the new ones on I tried to get the same however it only offered me 50. Then my friend mentioned the reason I couldn’t get one might be because I’m using my joint account primarily… I mean I dont even get regular payments into my Personal Monzo which makes sense


Same. Monzo has no idea about our income, despite 2 salaries and other credits landing in the Joint Account each month for almost 2 years. Even with maximum credit scores - Loan? No. Overdraft? No. While our situation does’t require a loan/odraft, other people really do need these with their account.

The convenience of the Joint Account is sadly outweighed by the inconvenience of the Joint Account;

  • No Loans :-1:
  • No overdrafts :-1:
  • No IFTTT support :-1::-1::-1:
  • No :-1::-1:
  • No Plus features (despite me having Plus) :-1::-1::-1::-1:
  • and no historical record of income either - if you use a JA you seem to be invisible to Monzo’s outlook of your finances :face_with_symbols_over_mouth:

I’m still holding out for a Joint Account boost - where its features match a Personal account - but its already been 23 months since I/we started solely using a Joint Account.

Just another rant about Joint Account parity :mega:


Same happened to me. I had a small £50 overdraft before I moved completely to Monzo. Wanted to increase it marginally as a safety net and it said I had to cancel the current one to apply for a larger one. So I did and now they won’t give me anything.

I hate it when that happens.


Trust me. Never happens. Still waiting. :man_shrugging:


Their lending criteria has always been tight. They will never make real money acting like this. There are multiple examples of customers with excellent credit histories and a steady income being declined for an overdraft. Monzo told me no, but a bank I have no prior relationship with will offer me £2k.

What’s funny is when I was a student I got an overdraft of 2000, then I stopped using my main account, switched to mostly joint and got a real job… despite going up in the world. I can get a 50 quid overdraft now…


They risk losing more if they relax their lending criteria too.

I guess it’s a hard balance to get right when you don’t have loads of capitol and multiple steams of revenue.

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