Absolutely amazed by how easy it is to prevent being scammed. I’m proud of Monzo for this.
So I have just made a transfer of £10,000+ out of my account for a mortgage deposit and been through pages and pages of questions from Monzo before being able to send it. Absolutely brilliant.
I’ve shared the screenshots. Monzo are really cracking down on scams
Paying the police? That’s a new one for me, scam or not.
Never heard that but I suppose they’ll try anything - scumbags.
ISTR there’s a scam where the ‘police’ say that your bank is crooked, and in order to investigate/protect your money, you need to transfer it to them.
Effectively it’s a variant on the ‘move your money to a safe account’ scam.
This is excellent to see. Good effort on Monzo’s part here.
Only issue is the scammers will soon cotton on to this and no doubt have a way to sweet talk their way around it. At least it will help some people.
To be clear it really should have an option in that pick list along the lines of bank been in contact to transfer money.
Could then select that and have a warning stating that banks will not phone up to do this and put down the phone now and stop what you are doing.
Good job Monzo, but still even with all the warning people still fall for these scams…Maybe we’re just too trusting? Or just no common sense?
Or the people who perpetrate these scams are very good at their job. Or they happen to catch people who are already stressing about something else. Or they happen to catch people who don’t keep up with the news.
It’s good, but I know other banks do similar. I wanted to transfer some money to another account a few months back and was actually called by the bank almost immediately to go through similar questions as those above. The lady on the phone wouldn’t release the money until I’d assured her no one had asked me to move the money.
I imagine the regulator requires this kind of thing now. Not trying to take anything away from Monzo, though. 
Other way round, in my opinion.
I don’t think it is, actually. In order for the banks to put the blame onto the customer, they have to show that the customer ignored explicit warnings. The more warnings the bank puts in the way, the easier it will be for them to avoid taking the loss.
I think it’s a good move, and might become more commonplace, even for smaller amounts.
How do you know you are sending to the right account? Were the details provided on an email?
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