Unfortunately I’m leaving Monzo

I have been with Monzo for around a year and loved it until I had a problem?

I had an overdraft, borrowed twice and paid back both loans early. I pay all my bills on time or early and then decided to borrow again but, was shocked to read that I couldn’t borrow due to my circumstances??? I then went onto Experian credit to check my credit score and nothing had changed but, realised that my Monzo account wasn’t on my “Experian” credit report??? I contacted Monzo and they informed me that they use an absolutely inadequate credit reference agency called “Credit Karma” ( one star on the Apple App Store with terrible reviews) and don’t share any of our information with any other agency?
I really loved Monzo bank but, unfortunately didn’t receive any professional assistance when I questioned them regarding my rufusel of a loan.
Wake up Monzo!!!


Read through this

Re Transunion/credit karma it has been that way since launch, and chances are its down to Monzo’s own internal “checkers”.

Not alot I can really say re the support side :wink:

I dont have a loan or and OD and not bothered about getting one if I was allowed with any bank :joy:

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Sorry to see you leave! :pensive:

Out of curiosity what would have to change to help you stay?

Even tho Monzo only reports to Credit Karma (TransUnion) they do their own internal assessments I believe.

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TransUnion are one of the 3 major Credit Reference Agencies in the USA and the UK. Credit Karma is the website to access the report.

I will say, I currently have 945/999 with Experian and Monzo no longer want to lend with me. :man_shrugging: I will go elsewhere for a loan but it won’t change how I use Monzo.


I thought i was the only one until i saw your post.
I have the same issue. Suddenly I’m not eligible to an overdraft anymore. Customer service told me to contact Credit Karma.
2 weeks ago i could borrow and apply for a loan.
And now nothing. (Nothing has changed on my records)
Really disappointed

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It might be worth just keeping a legacy bank account open or doing day to day spending through a credit card which you can add to monzo


:thinking: they should move to Experian


Forgive me for appearing a bit dim, but how does Monzo reporting to only one agency have any bearing on your ability to get a loan with Monzo?

If anything, it would only hinder you from getting a loan from someone else, wouldn’t it?


I had no problem getting a loan elsewhere with monzo as my only bank account



I had two loans from Monzo which I paid off early & an overdraft too. I now earn more money! Why would I be refused? The staff are “The Computer Says No mentality” which isn’t good enough!

Monzo aren’t sharing my details with the No 1 credit reference agency in the Uk! I’m a customer of Experian and use them to keep an eye on things.

May just be a unofficial pause on monzo giving out new loans or overdrafts.
Current accounts only get reported that they exist and are either in credit or in overdraft.
My TransUnion score is higher than my almost non existent Experian one (their website could not find me) I briefly had a credit card that I closed after 2 months and had no more credit since. (Paid in full every month)

I get why you are frustrated and confused. But this can’t have any bearing on whether Monzo will offer you a loan.

My guess is that their lending criteria have changed.

This seems to be conflating two different issues.

They’ve only ever reported to the one CRA so nothing is new there. I doubt that has any bearing at all on their own lending decisions, however.

There lending criteria seem to change periodically and they appear anecdotally to be a much more risk averse lender than many others.

I agree if either of these things is a problem then there are other banks around that do things differently but I don’t understand why mashing the two issues together makes this a bigger issue?


Well I’m leaving MONZO for different reasons I have been using Monzo for about 2-3 months testing out with small deposits, I’ve tried to get paid my salary into Monzo account and it’s not been credited yet I already asked helped multiple times sent TRN number also sent proof of payment to clarify where my money IS ! All Monzo said to is they are waiting for feedback from relevant team, awful service I still haven’t received my money ! Never ever again !

I understand the panic reaction but if they haven’t received the money (for example) then they’ll have to do quite a lot of work to prove that.

Don’t jump too early until there’s some idea of what’s gone on and where the problem lies would be my advice. Easy to say and harder to hear under these circumstances, I know.

Good luck.


I believe the amount paid into the account is reported too which is a way to prove your stated salary for any loan application.

Problem is people with multiple accounts or the bank they use for their wages/salary does not report to all CRA’s.
I always thought thats why some lenders ask for your employers phone number or for a reference from them with how much you get paid.

So to summarise, you can’t get a loan so you’re leaving?

Why not just get a loan from elsewhere and continue using all the other Monzo features as you’ve happily been doing for over a year?


Really? I’m not a fan of credit reference agencies generally, but I’d be upset if they were reporting financial information that wasn’t relevant to credit. That would seem like a overreach.

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Your leaving because your no longer eligible for a loan?:joy:I’ve never heard such nonsense. I would’ve thought it was for something way more serious than what you’ve stated but best of lucks.