Notification of intent to close account

So… I’ve just been informed by an in app message that Monzo needed some further information - which is fine (so I thought) - then when I logged into my account and opened the notification it was informing me my account is to be closed, no explanation, nothing - basically no other additional information is provided or as stated can be provided which is ridiculous.

To think, a few months ago when Monzo had a blip in the system which caused me and my family a lot of stress due to the knock on effect of not being able to access money and being stranded away from home, Monzo not only compensated me, but pleaded to not let this negative experience drive me to close my account, and to give them another chance - which I have… For this to happen. Even worse is how I’ve encouraged lots and lots of people to sign up with Monzo for them to do this today - I feel absolutely used in a way, I bought into this new bank who do things differently - unfortunately I so much so that I encouraged others to sign up - now I look a bit of clown given I have nothing positive left to say about Monzo, given a couple months ago I was full of praise. - it is what it is.

So now Monzo have decided to close my account what happens to my £500 which is in my pot and I can’t access it until March??? I’m certainly hoping this will be returned much sooner than March seems how my account is being closed.

I have to say - I’m absolutely disgusted at the inconvenience this is going to cause me - quite disgusting to be honest and someone somewhere must be able to shed some light on this decision?? I’m sat here now thinking I’ve done something wrong, which has knocked me for six - even worse that I have severe MH difficulties and Monzo have literally done this and made me feel as though I have done something wrong.

Gutted.

2 Likes

The community can’t help, we are customers as well

As per the message they can close your account at any time without giving a reason. This is the same for all UK banks. You will need to ask what happens with your fixed savings pot as thats held by a third party

I am going to close this thread as all it will be is speculation

Hi there,

We’re sorry to see you’re having trouble with your account at the moment. Unfortunately this isn’t something we can help out with here on the forum.

The best place to get this sorted out is through our in-app chat, or by email at help@monzo.com. Our team will be happy to investigate what’s happened here.

Thanks!