Resolved - Interest statement incorrect for users with joint accounts

Hi all, I’ve flagged this with Monzo support via chat, but at some point since last April there’s been a change to interest statements.

Last year the statement said (correctly) that I’d been paid £x interest on my personal account and £y interest on our joint account.

If I now dowload the statement for the same tax year, it now says I was paid £(x+y) interest on my personal account. Obviously this year’s statement is only available in the new format.

This is incorrect and of no use for a tax return where you only declare half the interest earned on the joint account.

Just flagging the issue in case other joint account users need this.

I don’t expect a useful reply before Tuesday obviously, but I’ll update this thread when I get a response.


First line passed it to Savings team. Savings team has passed it to an expert, who will be touch after the bank holiday weekend.


Queried progress yesterday evening as no-one had got back to me in chat.

Discovered that my help conversation had been closed so I had to go through the process of opening a new on.

I was asked what the problem was and did lose patience saying I’d already explained the issue in great detail and provided illustrations of the problem.

At which point it was a swift “I’ll pop this over to somebody that will be able to help you with this better” and “Thanks for your patience” and I’ve heard nothing since.

I’ll give it until tomorrow - at that point is it reasonable to raise a complaint?

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Edit. I just tried downloading an interest statement and it’s now correct.

So at some point this has been fixed.

At no point has anyone come back to me to tell me this.

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Kill my curiosity.

How does a joint account get interest? Or is it not meant to, and that was the problem?

Hi Carlo. Joint account pots can earn interest.

My wife and I both have to do personal tax returns, because we’re both company directors.

We each have to declare all the savings interest earned on accounts in our sole names, and 50% of the interest earned on accounts in our joint names. The bulk of the interest we get is from accounts held in joint names.

So the statement should say (for example) “You earned £10 interest on your personal account (including savings pots) and £90 interest on your joint account (including savings pots)”.

It was just saying “You earned £100 interest on your personal account (including savings pots)” which is factually incorrect and didn’t help us get the figures we need.

The statements were fine last year, incorrect when I downloaded them at the weekend, and have quietly been fixed and are correct again now.

Hope that clarifies it?

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Ah thanks, I wasn’t aware about this.

Greatly explained.

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