I’ve just spoken to Monzo briefly via the chat to enquire as to whether historic transactions never taken / still marked as ‘pending’ could be updated / removed… however have been advised this is currently not possible.
Whilst I appreciate there being no real harm in this, I don’t like having transactions that will never settle / ‘present’ marked as ‘pending’ indefinitely
Has anyone else given this any thought?
It would be great if after 30 days (or similar) Monzo could:
a) Simply wipe out the ‘pending’ transaction, and the ‘dummy’ refund?
or
b) Update the transaction to a new ‘abandoned’ status?
If a transaction is still pending after 30 days, and the merchant hasn’t presented, then it will appear as a “refund” on your feed.
A refund will appear… but the original transaction appears to remain on the statement as ‘pending’.
Are you suggesting the transaction and refund are deleted/hidden from your feed? I’d also love an option for that.
What I’d like to see after the 30 days is for that ‘pending’ text to disappear (or update to something like ‘abandoned’), or the transaction AND subsequent ‘refund’ to vanish
Not sure how this would work. If you bought something now it would appear on the May statement and spending report, then the ‘refund’ would appear on the statement etc for June. You need to feed and statement to match and be an accurate record of transactions so deleting wouldn’t work
If they could change the status from pending to ‘refunded on x’ but that could be very hard to match up if it’s a retailer you have multiple transactions with
Not quite sure what you’re getting at here. You’d have to get a lot of refunds for date and amount not to he sufficient.
I like the idea of changing it from pending to refunded on, perhaps making it clickable to get to the refund transaction?
Below is what I’m seeing on my April Statement (albeit with different values)
15/04/2020 - MERCHANT A (pending) 10.00
05/04/2020 - MERCHANT A (pending) 1.99
04/04/2020 - MERCHANT A (pending) -1.99
03/04/2020 - MERCHANT A (pending) -10.00
My issue is the fact these transactions are all still marked as (pending).
What I’d like to see (after ~30d) is either the removal of all these ‘pending’ transactions (as the money never actually left my account) OR something along the lines of the below. Just to clearly show the transactions are NOT still pending.
15/04/2020 - MERCHANT A (abandoned) 10.00
05/04/2020 - MERCHANT A (abandoned) 1.99
04/04/2020 - MERCHANT A (abandoned) -1.99
03/04/2020 - MERCHANT A (abandoned) -10.00
What you are asking for cannot happen. Monzo have repeatedly said in the past that the feed is a ‘statement of truth’. For that reason, they will never remove pending transactions.
Secondly, it would be flat-out wrong to mark anything older than ~30 days as abandoned, as that wouldn’t always be the case. The merchant is still able to come back at a later date and claim the money again. Some users may remember when SWT had problems with their ticket machines meaning that they weren’t actually collecting the money from Monzo in time. I had a huge amount of ‘refunds’ from them because of that, but all the money was eventually taken again (more than a month later).
I get that.
I didn’t get is how hard matching £x pending on one day with the same £x refund some number of days later is. Assuming that’s a copy-paste of a statement then that’s poor design - No distinction between a pending transaction and a refund (apart from the negative amount). I’d assumed a refund would have been labelled as such rather than exactly the same text with a negative amount.
Still completly agree that it should change from pending to abandoned once the time limit for the merchant completing it is reached so that it reflects the actual status of the transaction.
If this is indeed the case - this is the key piece of information I was missing!
I wasn’t aware a merchant would still be able to come back at a later date / that far down the line and still claim the money if required. I’m surprised pending transactions don’t ‘time-out’ after a set period.
I don’t actually mind the way this works at present!
It would be good if the “pending” text changed to “refunded” or “reversed”. A nice touch would be if the refunded transaction was also linked to the transaction.
