No, I don’t. Always the same bank > Monzo. All my domestic Direct Debits are also with Monzo and will now need to be moved.
There is nothing to hide and I am quite prepared to provide Monzo with any documents they may require to satisfy any suspicions - not that there should be any,
That’s putting me in a difficult position then as i only transfer money in from my main account to cover dd payments, £500 at a time. I’ll wait for my email…
Have you checked your credit file for anything strange such as a cifas
What’s the reason for going via Monzo?
My credit file is exemplary - never had an issue in 30 years.
That’s not sus.
By sus I mean like transfer or receive like 1000s and instantly send it out multiple times over and over.
What’s the reason for going via Monzo?
The Exchange Rate, as mentioned in my post.
Exchange rates? Is your bank non uk?
UK bank account - with the usual poor rates for currency exchange. Hence Monzo.
Even my PayPal payments are always made from Monzo due to the exchange rates.
So you’re not in the UK?
If your bank is UK and monzo is UK you wouldn’t have exchange rates?
So you’re not in the UK?
I am in the UK. Always have been. Monzo have a copy of my British passport.
If your bank is UK and monzo is UK you wouldn’t have exchange rates?
Exchange rate into foreign currency, not from foreign currency.
But why would you need to exchange it into a foreign currency? Seems a lil sus
Depends what he’s buying.
But why would you need to exchange it into a foreign currency? Seems a lil sus
Because the British Pound has been competitive against the USD these past weeks - and crypto exchanges allow payments in GBP, EUR or USD.
How on earth is that ‘Suss’?
I do the same when I fund my Degiro Broker acount in EUR.
It’s sus as you live in the uk and have British banks so if you’re constantly changing it into a foreign currency
If you’re using your account as a middleman to filter money through and transfer straight back out it isn’t surprising that they don’t want you as a customer anymore.
To me it kinda sounds similar to using the account to launder money
So payments into your account, straight out into something heavily used by criminals and for money laundering and never coming back.
I’m in shock they’re closing you down.
How would transferring my own money from my own UK bank account into Monzo and then into a well known crypto exchange be suspicious? There is a clear paper trail and the source bank (25 years) has never had an issue.