Based on experience how long does it take for Monzo to approve a share sale? I have been waiting about 8 working days, is this normal and in what circumstances would they block a sale?
It has to be approved by the Board of Directors. I beleive they meet once a month, so theoretically you could wait approximately a month for them to even review. Fortunately I believe there is one scheduled early this month, so should hear within the next week.
Thanks for the background. Do you happen to know under what circumstances they wouldnāt agree to a sale?
Those selling shares havenāt stated the reasoning behind their sale (understandably) so it would be hard to say. Have you read through the shares topic?
I donāt know how easy for those who wish to transfer. I thought I had a good reason and after about 5 weeks have been declined today.
I had evidence to provide to confirm my reasoning though this was never asked for either.
I wasnāt in it for the huge profit I was only about 40p a share. Not that they ask your agreed price.
Just be aware it may be a lot harder to qualify for exceptional reasons to transfer than you initially think.
Thanks
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Same here just had an andwer yesterday. Been in overdraft over 120 days and will be in it longer I have give them proof of Family situation I had and that I will be struggling for about 5 months. At first I was told its all good by a monzo employee on the chat after providing all info.
So went ahead to crowdcube found a buyer etc.
Yesterday got the news that monzo did not consent so I went to argue with monzo that the employee said its all good. They apologised and told me to finish the topic as they will not approve it.
Feel like they just want to milk me for the 15 quid in fees im paying for OD.
Unfortunately, itās quite clear that individual employees donāt have the authority to say anything on this topic. It really is down to the Board (or maybe a formal nominee, who knows) so there probably isnāt an awful lot you can do.
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I was the buyer and not the seller but I just completed 2 separate share purchases this week, the process took no longer than 3 weeks. I cannot comment on the reasons the sale was approved but it all happened quickly.
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One person (I wonāt say who) said the reason they gave was that they were purchasing a house and needed the money for a deposit (obviously havenāt verified this)
Silly question what is OD?
Overdraft 
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Even if it was true i donāt see why they would help someone with money to get a house and someone that has been with them from the start and is struggling they just flick them off.
Im wondering on the reason people gave to get consent
I have no idea the reasons. I will admit getting out of your overdraft (as listed above) does seem like a valid reason to me but obviously canāt say
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The pattern Iām seeing is that a house purchase and failed business venture (also mentioned earlier) are large amounts.
A Monzo overdraft is less than Ā£1,000 so could be classed as more of a short term debt?
All just speculation of course.
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Even a house purchase could be classed as marginal. While many are now priced out of the market I donāt think I could quite bring myself to classify buying a house as āexceptional circumstancesā.
A failed business or a death would be more what I imagine as exceptional.
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Not sub Ā£1k surely but I agree with the rest of your argument 
Perhaps a house purchase could be exceptional if youāre being kicked out of your rental again and need some stability for your family? or there are no other rentals available in your price range / area?
I am inferring from this thread that Monzo isnāt keen on the retail buying and selling of shares. I can see why given the overhead involved in transfer of ownership.
Hmm. Fair comment, I was considering straightforward reasons only.
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I am wanting to buy some if anyone is selling. Missed out on all the Crowdfunding rounds despite being registered and everything prior to it going live. Disappointed not to have been selected to invest.
See: Monzo Shares for sale Wiki
Incidentally the last one didnāt require being picked, just present.
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