Refusing a small agreed overdraft

I have been with Monzo nearly 18 months and have also invested 85K meaning that Monzo made commission, yet they won’t give me an overdraft!
I am unable to get my savings out so I am absolutely stuck with no money until 28 Feb. It’s that old little Britain sceatch “Computer says no”
Unless Monzo change their mind I am closing my account!

Why can’t you get your savings out?

Fixed savings pot

---- Emma via Monzo Community wrote ----



7 February
Why can’t you get your savings out?

It’s fixed savings pot

Ah, ok

This post might make overdrafts clearer

A human making a common sense decision, looking at a customer with 85k in fixed savings through them, even if you had a bad credit score/history (and I’m not saying you do but hypothetically), say yes to an overdraft, even if just for a fixed period and tied to the life of the fixed savings account. Computers don’t have common sense chips.

wait a sec here you have £85,000 in fixed savings, but have no easy access savings, or balance or any other cash stored to keep you going for 21 days?

Not to rub it in but a fixed pot of that much with Monzo is losing you out hundreds and hundreds of interest compared to 1.65%+ fixed elsewhere so thats a bad move for starters.

In terms of overdraft / loan those savings aren’t taken into account, so it wouldn’t matter if it was £1 or a million in savings. It’s just looking at your credit report and assessing your affordability to repay.

If you want a human making a decision these days your best bet is looking at Handelsbanken.


I might be wrong but I think he said he has invested £85k, not that he has that in savings. However I’m not sure how he has managed to get that much in shares. Either way somethings not ringing true which is making it very difficult to help :confused:

I dont really see why your posts have been flagged ??? anybody care to give reason why they have flagged them

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Either way its bat shit crazy to have that much locked up in investments / fixed savings and not to have anything else that can keep you buying stuff until the 28 Feb which I assume is payday.


My guess is that it’s a new signup and they’ve jumped straight into creating a topic. I’m sure a moderator will be along to approve it soon :slight_smile:

ah thanks didn’t realise , I thought members of the community had flagged them as one is still visible -

Sock Puppet.



:face_with_symbols_over_mouth:I’m outraged I’m not getting my way!

:socks: Sock: What do you think Sock 2?

:socks: Sock: I’m outraged for them in how they have been treated.

:socks: Sock: I agree, it’s not fair at all.


Now I’ve read the other posts made by the “OP” I concur :laughing:

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Im guilty of taking people on face value