Hello, I’ve read loads of reviews and people saying that Monzo closes accounts after innocent transfers and I refuse to believe it but because it is my only bank and the only one I can get, I’m so scared of if I was to transfer large sums of money to my account Monzo would close it. I also heard th…

Thanks so much!!! Your absolutely right

There is nothing to worry about unless you’re up to something dodgy. All banks do this if they suspect wrong doing. A quick Google and here is one for Santander recently: https://uk.trustpilot.com/users/5d4be05e088bad67148914c5

I only have 3 things to say: It’s rare if you can prove it monzo will listen Don’t worry if you don’t have anything to hide :slightly_smiling_face:

[image] Amill2: it is my only bank and the only one I can get If this is true, then there’s no point in worrying, as you have no choice. If your sources of funds aren’t suspicious, your account won’t be closed.

Hello! I don’t think you have anything to worry about. If you want to read up on it a little more you can see: https://monzo.com/blog/2019/04/04/why-we-block-freeze-close-monzo-accounts Many of the stories associated with closed accounts are attempts to put pressure on the organisation to payout …

[image] Amill2: I’ve read loads of reviews That’s where you went wrong, right there.

Welcome to the community. Hope you stick around both here and Monzo more generally It was revealing to see that these sort of stories crop up routinely in reviews for other banks as well. There must be lot of people out there unable to feed their four polar bears because the bank froze their earnin…

:joy::joy: your so correct I guess I was just overreacting and a big worried.

Worth remembering that people don’t come in to the forums, or write reviews, if their accounts are working just fine, it’s only the ‘bad stuff’ that people will write about! Monzo is, like all other banks, accountable and works within banking regulations. So any type of activity which could be flag…

So, I read the article about why Monzo might close an account and it mentioned about suspicious activity and I’m a little confused. Basically, Monzo is my main account but I have another account that I occasionally get paid into from surveys etc. I then transfer this to my Monzo bank and then transf…

I have 7 current accounts and regularly move money between them for all sorts of reasons. I wouldnt worry.

Scared of bank closure

UK Help

j06 (Jamie) 13 August 2019 22:00 7

That’s where you went wrong, right there.

Topic		Replies	Views
Scared to transfer! Help	25	3736	24 February 2020
All reviews on monzo make me nervous Monzo Chat	6	5153	19 April 2019
Lost confidence in Monzo IMO but il keep it as spending Acc Monzo Chat	34	1796	28 March 2020
"Monzo bank in money laundering rules investigation " Monzo Chat	31	3168	6 August 2021
Concerning Reviews Monzo Chat	13	3190	22 March 2020

Scared of bank closure

Related topics