Refund tracking

(Alex Graham) #1

So I have been in the following scenario a couple of times:

  1. Cancelled some services (insurance, broadband etc) and been due a partial refund. Or just been due a refund e.g. returned something to an online retailer.
  2. The service provider’s refund process has failed somehow - while this is less common with retailers, it seems to be more common with insurance companies and larger corporations.
  3. I have forgotten about the refund and so never verify that I actually receive it OR not refunded the correct amount and don’t notice.

While I now write reminders to double check I have actually been refunded and refunded the correct amount, it would be nice if I could enter a “debt” in Monzo at the time that the company say I am due a refund and then use Monzo to ensure that they actually send me the money.

So I could be on the phone to Morethan who say I am due £120 refund on my insurance premium which they will refund to my account within 14 business days. So I open upon Monzo immediately and create a new “debt” for £120 and possibly even enter a due date (e.g. 14 days from now). If a payment comes in for £120 you would be asked to verify that this payment came from Morethan, and if it did you could remove it from your backlog of “debt”. If you do enter a due date and the debt hasn’t been cleared, Monzo could remind you to follow it up.

(Kolok) #2

Useful feature, but I doubt it will be anywhere near the top of monzo’s list

(Bailey White) #3

This has happened to me numerous times, espeically with EE! I would like to see this.