I’ve recently, through a company I do some work for, been gifted some shares. The nominated company to process these is Equiniti Financial Services Limited/ Morningstar and to manage the shares I’ve needed to sign up to their portal.
On trying to sign up it’s asked that I provide the details of my UK Bank account for a direct debit to be set up should I wish to purchase more, or pay out to if I sell the shares.
I entered “Monzo Bank” as the bank name and my Sort code / account number in the rest of the details.
It came back with “Unable to electronically verify account”
I’ve spoken to them since and they’ve requested I send a nullified cheque from the account which obviously I can’t do.
Anyone been through the same or similar and come up with a resolution? There’s a time limit on me claiming the shares and I don’t want to miss out.
Sounds like they haven’t updated their sort codes recently. You can email the details to acceptance@monzo.com for Monzo to get in touch with them in and deal with it but in the mean time you might want to use a high street bank to complete the transaction
Hi there are still quite a few places where Monzo Sort Code doesn’t work because they have not updated their system with latest BACS data. Simply means that the company you gave your details should update their sort code database.
It might not be possible to convince different companies in every single instance so you might wanna use another account if you have one.