Hi - Curious to understand how Monzo would address a problem someone I know has just had with a legacy (business) Account.
We receive an account and sort code to transfer funds to (a significant 4 figure sum). We instruct Monzo correctly (though we might have input the number wrong); the transfer is performed. It becomes apparent that the transfer has not hit the right account; it is apparent the payee has provided an account number one digit different to the correct one.
What might a customer expect of Monzo in terms of being able to address this? In the real world example, the legacy bank has simply said ‘not our problem - we did what you told us to do (which is true). Bye’. Clearly, in the story above, short of being able to identify the banking organisation receiving the transfer from the sort code, they have no connection to what it turns out was a random account number.
Every time I input a bank transfer request (with any bank) it occurs to me that it will only be a matter of time before I wrongly input the account number.