I’m not taking sides here since none knows the facts, especially as on going investigations cannot be commented on.
But the media don’t exactly have a great reputation for telling everything 100% truthly. Stuff is always exaggerated.
On top of that negative comments are always more noticeable than positive ones. And the first thing someone will do when they can’t access their money, and do not receive answers from support (due to the on going investigation) they’ll go to a public place. Whether that’s Twitter, Trustpilot or this forum.
The fact they explain their process before closing account requires them to contact the relevant agency and wait for their reply, means that either the agency are suspicious and so are instructing Monzo to close the account. Or the ‘innocent’ customer isn’t so innocent after all.
Again not taking sides here, but no one knows the facts, and so you can’t really assume whether Monzo are being overly defensive (probably more the agency since they are the ones instructing Monzo to close the account) or the customer is something dodgy.
All banks do this, the difference is Monzo is more in the public view, with this forum for example. I don’t understand why this is turning into a far bigger deal than it actually is!
Look, Monzo take on average 2.7 weeks to return innocent people’s money. That is too long. There are definite improvements that can be made to their processes, I don’t understand why so many people want to blindly defend them!
I don’t think its a lot of people just blindly defending them - they’re already doing better than other (not saying more can’t be done because they have said themselves that they are wanting to improve that time - and faster times is better for the end user)
I’m not blindly defending them. They do make mistakes. But on going investigations CANNOT be commented on. Whether you’re the suspect or not. Everyone seems to think this only happens at Monzo. If you go to any bank they’ll be suspending accounts some of which may be false, but you don’t know because they don’t have a public forum like this!
Plus all banks can take up to 4 weeks to give your money back by unsuspending your account. It’s not Monzo that is slow it’s the investigation that’s slow.
I think the point is, that these types of new accounts (I don’t want to wrongly include genuine users in this) appear with a read time of less than 10 minutes. Their profile indicates they have only read 3 or 4 posts (out of 500 in this topic) and then suddenly they’ve posted a reply to an individual, a few hundred posts in.
Their posts are normally very one sided and dismissive of anything except “monzo steals money” and then they usually finish by insulting someone.
We’ve already seen multiple accounts for the same person, in this thread, all of which I believe are now suspended. This statement hasn’t been shot from the hip.
Its just interesting to watch this type of behaviour, on a thread that is being widely shared amongst other groups.
There are likely some individuals who have genuinely started showing an interest, and normally their forum accounts demonstrate this. They’ve read a few topics, or at least the summary of the topic in question, and reply in a ‘normal’ way.
All over? The Monzo responses [which we have all read on here before - and which have been given again in that article] are measured, accurate and timely.
2.7 weeks is the average. Some people might get sorted in a few days, which means there are probably lots of cases where unfortunate people have to wait several weeks
I beginning to think that this community has been recently populated by a group of small mammals with a velvety fur usually found in subterranean places. Not aimed at anyone in particular, but I do find it odd that these “frozen account” reports are arriving so quickly one after another. R-
Just to clarify, Tom makes it clear in his post (the one this entire thread is about, and is somewhat pre-requisite reading) that the 2-4 weeks specified, is FROM the point they’re given the green light to return the money, NOT for the total process. Monzo can’t give you an expected timeline for external agencies to do their investigations.
When we can return the money to the customer, we let them know it takes between 2-4 weeks to get it back (while we work on fulfilling our other legal requirements, like reporting what’s happened to the right places). On average it takes us 2.7 weeks. And when this very rarely takes longer than 4 weeks, it’s usually because of external investigations that are outside of our control.
Nice try. Assuming because straight away I was told that’s the final decision to close the account and return the funds. And when I ask why I just get “no updates”
Not we will let u know our decision or we are investigating. Just straight up asking for a non monzo account and telling my it’s their final decision
Cerberus
(There are no stupid questions, just stupid people.)
925
Thing is half these accounts are fake or they are doing something dodgy to get their accounts closed in the first place
