I’ve wanted to talk about this for a while. But I didn’t want to be “that guy” scaremongering. But it’s no longer an issue. (and never really was then, for somebody savvy)
Somebody in my family works for a fraud department for a high street bank, I used to talk to my family about switching to Monzo but this person would tell me that Monzo accounts come up in fraud Investigations all the time (when Monzo was a pre paid card) not just Monzo either. Revolut.
I’ve spoken to her about this today. Not mentioning the fact that Monzo no longer has pre paid cards. I asked her if she still gets a lot of fraud investigations involving Monzo accounts.
Her answer was no. Absolutely none at all, she hasn’t seen anything regarding a Monzo account for ages.
I then asked about Revolut. Apparently yes. Revolut accounts are still at the forefront of fraud investigations with her company all the time.
this is not a dig at Revolut, it just shows that moving away from pre paid cards was a great thing.