Overdraft charges?

Just got a notification for an unarranged overdraft. I have no bills due out and no extra money has come out yet my account balance says -£2 have I been charged for transferring money to another account?
Any help or advice is appreciated.

Have you taken out cash?

If you’re -£2, how have you got to that? What are your last few transactions?

I think that’s the issue, they don’t know!

My best guess would be a pending transaction later settled at a higher amount than what was pending. Monzo is really poor at notifying you about this or even making it easy to spot.

£2 would be quite the large settlement difference! I’ve only seen a few pence here and there.

Hey :wave:

I would reach out to our CS Team who can look at this for you and explain it more clearly for you.

this could happen if you used your phone to make a payment in foreign currency of your balance is not enough to cover the full payment when the pending charges clears and the rate is higher or if you used your card to take public transportation which they take the money out a few days later and your balance was zero when the money was taken

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Went on a tram for the first time a few months back! The payment for my ticket settled a few £ higher the next day, which took me into an overdraft with Chase, so it can certainly happen.

Taxis are often like this too in my experience. Depends on the firm, but charges are often only ever estimates and can settle for more, though it’s usually less.

And some vending machines/kiosks!

Depending which products co op give me as substitutes my bill can settle higher than their 10% additional fee to cover that potential cost.

And as @shizzle mentions above, foreign currency payments, but they’d need to be in the hundreds if not thousands to see a change of £2 occur between making the payment and it settling.

Delayed or offline transactions can do this IE purchasing on planes, pay at pump fuel, or bud services.

They take a small initial amount in most instances, then charge the full balance a day or so later.

If you used any of the above in the past few days this will be why.

Customer service via chat can explain fully what happened though.

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My bus fare is £2.60. If I pay with Starling or Chase I’m just debited 10p straightaway, and I get 90p roundup. The next day, or so, the 10p changes to £2.60, but the roundup isn’t amended.

I haven’t noticed this happen when I pay with Lloyds, though, it’s just the full £2.60 straightaway.