Don’t know about anyone else but don’t you just hate finding this stuff out from the news!
I hope this incident has been referred to the ICO
Monzo your whole Ethos is to be clear and transparent - clearly our details to your staff 
In future I believe you should notify all customers via either text or an in app notification as your email looks very suspicious 
I mean. It’ll look even worst in text form. Plus the email doesn’t ask you to do anything suspicious.
^you’re also acting like they were deliberately doing what happened.
Hi Kolok, I had the same message so asked for clarification and this arrived:
Which wasn’t clear from the original message.
It’s a precaution… so I guess it’s up to you if you decide to change your PIN or not. If you don’t, and fraud happens, you’ll waste a lot of time getting the money back etc. etc.
All they’re trying to do is think ahead and save all that time by limiting ANY damage.
Having said that… the message above quite clearly states that we should do it… so, best do it eh!
It’s called being sarcastic hence the Emoji’s.
If I got an in app notification or text then I would be notified and not find out via Sky news. Not what I expect from a service that I use. Especially when it’s my money.
Yeh, no. I’ve used the same pin for 20 years. Unless someone steals my card AND have this data they won’t have any use for the pin. It’s so ridiculously unlikely.
So. Skim reading this thread there is a lot of opinion (which is good!).
Just so I’m clear.
Monzo made a mistake.
Monzo told customers about it, and suggested what we as customers should do.
So now it’s down to as as intelligent (I speak for everyone bar myself!) people to make a decision, to change our PIN or not to change our PIN?
Points of interest/lessons learned:
Is that a reasonable summary?
I disagree totally.
If a monzo employee steals money from my account that is not my liability- that would be fun in court!
If it does happen imagine monzo would quickly resolve it as they don’t want the negative media attention -
Monzo employee steals money from customers account due to error made by monzo.
Yes, and yes.
After receiving a message suggesting that I would be indemnified against fraud resulting from this incident, I requested clarification - after a bit of probing was finally told fraud protection would not apply to any future fraud if I don’t change my PIN.
As my personal and business banking is now with Monzo I can’t take that risk. And yes, I know I should have a different PIN for every card but like the majority of folks, I don’t as I am careful to protect my PIN.
Edit: here’s the message.
Thanks for that information Chris, very helpful. Off to change my PIN I go!
I’m gonna be unpopular at the ATM today. About 10 or 11 cards…
I’d be the same. Fraud prevention is on both parts. If the bank has made an error & the customer no error the bank will need to pay.
It’s more than a matter of principle for me - there are a number of issues that keep cropping up with Monzo which leads me to question whether they are a bank for the future or not.
Ha you’ll be ‘that guy’. Expect much tutting!
Indeed. I added a screenshot of the message to my original post by the way.
Blog post read
Email received
Eyebrows raised
Location security enabled
PINs changed(personal and joint accounts)
Moving on…
If I was forced to change all my PINs I’d be looking for Monzo to provide compensation for time lost & inconvenience caused.
Not so long ago I had a credit card with a bank who would send reminders by SMS. Doesn’t get much less secure than that.
Good grief.
To be clear, Monzo are forcing me to change the PINs on my Monzo cards. It’s my choice to do the others.
It’s an inconvenience, I’m bloody annoyed, I’ve made that clear to Monzo, and in an ideal world the incident would not have happened. But it has, they’ve been clear about the cause, fix, consequences, and what they and I should do to protect myself.
I’m not a fan of an American style litigation culture where people want compensation for the slightest thing. I’ll change my Monzo card PINs and a couple of other cards in daily use today - won’t take long - then the rest over the next week or so as I’m passing ATMs (so as not to be “that guy” and provoke to much tutting).
The challenge will be to remember the new PIN…
Surely what matters is that you DO find out, not how.
