Yes i did not actually notice that. That’s quite shocking for an account to be honest, i suppose its a way for them to make the money back from the free company registration offer. I don’t know. Legacy banking wins on this one i thinks?
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It’s actually really common for banks to charge for electronic transactions on business accounts. I provided some links to business rates from the high street in another thread 
It’s why the paypoint issue exists with smaller retailers - they get stung for paying the money into their account.
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I was actually not aware of that. I don’t get charged on transactions. Interesting. I have learnt something new today
Sorry to hear that @aarhus but glad you’re getting set up on Starling.
Seems that Monzo’s key feature in the early days was the trust the community had in it and day by day they are chipping away at that until there’s no trust left. This is another straw of that. Not sure I will stay with them long term.
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So let me get things straight. Because you were denied a business account they are closing your current account?!
That seems far from fair.
It really does seem that Monzo is purging all of what they perceive as their “risky accounts” and if it’s an automated process it’s doing too good of a job.
A “key feature” was that Monzo was very lax with who it let open an account. Now they have to be stricter.
Where have you got that from?
So you are telling me that they had a business account, and now they are having it closed after already passing the eligibility criteria?
Yes?
It’s not a one off thing, it will be a continuous monitoring of the situation, the same with all accounts for all banks.
Don’t forget this is one side of the story and we’ll never get the other side.
Exactly right - we were one of the early signups.
I have no problem with them changing their mind, it’s just the lack of information that is galling. We took the risk of signing up to a new beta service. Help bug fix the API for the business account, have paid the fee from the start - and as far as we can tell meet all of the published screening criteria.
We just, out of the blue, got a message on chat “Sorry, you don’t mee the eligibility rules anymore, you have two months before we close your account, we could close it earlier. We can’t tell you anymore. Your business can’t apply again” (paraphrased).
I think it was because we had no PSC recorded (we are a 4 equal shareholders and the same 4 people acting as Directors) so we didn’t need to (from what we understood). When we tried to open the Starling Account last week, it came back with sorry, you don’t have any PSCs listed - sort that out and you can proceed. Once we added all four of us as PSCs, the application was accepted and the account was opened yesterday with no further issues.
Even if this was the reason that Monzo has decided that we are no longer a fit, the way this has been handled stinks and has significantly damaged my faith in the company. I can understand them not being able to tell us if we had triggered money laundering flags - but this is not the same situation.
We started the CASS to Starling yesterday. We have kept our legacy RBS account open (they issued our bounce back loan, and as we are lucky not to have used it so far, the whole loan amount is sat in the current account).
Anyway, I am glad it happened this month so we can get it sorted before the Christmas break.
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Agreed, and I have no problem with them deciding we no longer fit - it was the lack of communication and effectively no right to remedy that is the issue.
As has been said before, they seem to have lost the communication and courtesy that drew people to them in the first place. As we were one of their trial customers, a simple “thanks for helping us build the product, we are really sorry but we are changing our focus and because of XYZ, we are unable to support your type of business further” would have gone a long way to smoothing it over.
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“lax” for personal accounts - maybe. Not so with the business accounts. There were quite a few hoops to jump through to get on to the trial.
The fact they’ve closed your account without explanation after you and your company were actively involved in the shaping and testing of business accounts is galling.
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That’s my point as well. Monzo changing how they charge for foreign withdrawals was exemplary in my opinion. They stated the problem, offered solutions, took votes and implemented what they thought was best. As a result, users trusted them. I strongly recommended Monzo to people I know because they were the first bank I trusted. This type of situation erodes that trust. Now they’re just another bank, and a risky one at that.
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Coconut are signing up new customers, or were a couple of weeks ago.
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OK, so Starling have opened the account and we are now using it for most things, but we can’t do a CASS.
The new Starling account has the four Directors as the account holders. The Monzo account has 2 directors and our Administration Officer on.
Monzo have rejected the CASS due to the mismatch, and I can’t get an answer from them as to whether they would accept it if we remove the Admin Officer…
Grrrrrr
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Im not sure anyone on the forum can help as we are all Monzo Customers. Your best bet would be to contact Monzo in the app and ask to speak to the CASS team directly and see if you have any luck getting answers from them 
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What a headache! Banking at its worst 
Can they tell you what the mismatch is so you can rectify it. I wonder 
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It’s likely the mismatch in named account holders, I would’ve thought. One way of looking at it would be that Monzo are making sure that the business isn’t being ‘stolen’ from the Admin Officer who isn’t named on the Starling account but is named on theirs.
The simplest solution might be to add the Admin Officer to the Starling account, CASS, and take them off again.
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I could not even imagine that phone call to the bank
“Hello, my Bank account has been stolen”
Solution might be worth trying for the OP. The other option would be to stay with Monzo 
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