I’m no @SebH (well, who would be) but based on what I’ve got, here’s what will/wont allow you, for free to do card control wise:
Monzo
Starling
First Direct
Barclays
Natwest (And, presumably, RBS/Ulster)
1 Like
I can’t believe how many of you guys are in the same situation as me. I just got charged twice with exactly the same amount you are reporting here, 212.25 twice on TikTok. I just reported the transactions 1 minute after and my card is blocked right now. I really hope Action Fraud will take action on this and refund us quickly but not sure why I didn’t get a notification to approve the payment as I never did transactions on TikTok with my card. This is really strange.
1 Like
If you read the thread you’ll see why, it’s not for Monzo to do that.
You’ll get the money back, action fraud won’t need to get involved.
Hi Revels,
Excuse me for not having enough time during my work schedule to read 122 posts. Even now, after reading all of them I still can’t find a real explanation for why so many cards were “leaked”, never used “Emma sleep UK” (that’s the only thing I found useful).
But atleast I found out that everybody will get refunded, which is a relief.
3 Likes
When you get the ping to approve a payment, that’s the website/merchant implementing things as they should. Some websites don’t do this, such as this one.
Nobody knows where or how details have come from. It’s not direct from Monzo. Monzo may know who but are unlikely to say.
2 Likes
Worth noting - in case you haven’t yet - that you need to report the fraudulent transactions to monzo. Otherwise you won’t get a refund.
2 Likes
Yes, I did that, 1 minute straight after I have seen these transactions. Hopefully, I will get an answer in 24hrs…
2 Likes
This happened to us this morning as well. Two payments to Tiktok for 212.25, one failed check, then two payments for 181.50. About 800 quid all up.
Since we froze the card there have been several active card checks for new black.se.
I froze the card immediately and contacted Monzo seconds after all these payments happened.
But heard anything all day. Just got the money tied up and a card we can’t use.
We are with First direct too. Their fraud squad would be into this. Multiple purchases from the same online supplier, but exactly complex algorithm. They would also unfreeze it card and refund the transaction.
I like Monzo but probably won’t use them any more after this. This is a huge weakness.
But… it’s only just gone 10am.
I appreciate it’s frustrating, but you can be assured that Monzo’s fraud squad are investigating.
I’m also not sure it’s helpful to say “Bank X would do Y” without any evidence of such. At the end of the day, all banks would go through broadly the same process of investigating before refunding after receiving a fraud report.
6 Likes
Update, had my money returned today and new card on its way, I did have to contact them in the chat a few days later after not hearing from them to get the ball rolling but think this was because this happened on a Friday evening. All resolved now
3 Likes
I meant all day yesterday, as it was about 8am that i reported it, seconds after it had happened. Anyway I chased today and they confirmed they are dealing with a large number of these Tiktok transactions and hoped to have an answer by the end of the week. Meanwhiule that’s 800 pounds I don’t have.
I think it is useful to compare to other banks … it’s not a complex algorithm to say if there are two sizeable online transactions within seconds of each other then halt the payments and check with the customer. The fact that there were four in our case and they only stopped because the account ran out of money, means there’s nothing that smart at Monzo. Or they don’t have the number of peole to follow up. That’s the common online business model isn’t it - take all the upside of scale because you haven’t fully accounted for the variable costs of support staff.
I have had fraud on accounts with other banks ands it’s cleared up in minutes - and they usually call me.
Then there’s the whole issue about payments without approval. I can’t buy a ticket for the car park without approving through the app, but 800 quid can disappear without any approval.
Anyway, when the money’s back in the account, we’re out. I like Monzo, but it’s just too risky. This is definitely their achilles heal.
2 Likes
I’ll be interested to hear an update from Monzo on this. I’m curious about what’s been happening and what has been done to prevent it going forwards.
As others have noted I’d love to be able to freeze virtual cards as I typically use them online.
For the time being I’ve moved all my spending money in to a pot with no card linked and I’ll move it back as needed.
1 Like
Me too - Also, unless this thread is being used to track impact I wonder if it’s worthwhile closing it, because without any confirmation or voice from Monzo it’s looks bad, in my opinion
I agree, but a lot of people noting it’s happened to them with radio silence from Monzo is to me the equivalent of setting fire to a dumpster and watching it burn.
As a fraud investigation has to be done in relative secrecy (to avoid tipping off the fraudsters as to how and what you’re looking into), all Monzo could say is “we are investigating”, which I am almost 100% sure they are doing anyway.
They could not say anything else or give any more details right now.
1 Like
Yeah I do get that. But even an acknowledgement from Monzo that said “we’re aware of x and we’ll be in touch with affected customers” might help instill confidence in them
2 Likes
It will be interesting to see some sort of analysis after it’s all resolved. I am intrigued to find out where it’s coming from. My wife and I both froze our main Monzo debit cards as soon as it started, but so far we haven’t had any attempted transactions - that said, we have never used our Monzo cards online anywhere at all.
I have a virtual card that I use everywhere online, and there’s nothing on that one either. I wonder if it only affects real cards and not virtual ones for some yet-unknown reason?
1 Like
There was one earlier, and I would hope it still applies:
1 Like
You mean literally what they are doing with every customer which reports the fraud within the app. There’s no requirement for them to come running to the forum to type a few words. The affected customers are been dealt with in-app as per Monzos processes.
I know - and they did as someone else pointed out note they were looking after things directly with customers.