Where is my security deposit money and when will I receive it

Dear Monzo, I put down a security deposit at a hotel in Philadelphia. It was called the club quarters Rittenhouse hotel in the centre of Philly it was a hundred dollar deposit and they said I would receive my deposit back after five business days. It has been six business days and I have not received the deposit they claim they sent it back and that it is on Monzo end I just want to know where my money is.

The hotel have not released the hold for the amount, or you would have it back.

Click on the payment, does it say pending (at the very bottom)?

It will either be 7 or 30 days, then you’ll have the money back.


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It says pending at the bottom yes but the hotel said they sent the money

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They’re either lying and they’re holding onto it, or it will take a period of time to process. Either way there’s nothing Monzo can do to push it along unfortunately.


So if it’s pending, there’s nothing for them to send. They never had the money.

The need to release the hold, which if they don’t do will take either 7 or 30 days.


They didn’t. You probably spoke to an employee with no knowledge of how banking systems actually work, who gave you a stock answer.

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I went back to the hotel and they looked at the system and it said that they released it I have went to Monzo about it waiting to here from them but I don’t know why it’s takeing so long

Monzo can’t/won’t just give it to you.

You’ll need proof from the hotel, or wait 7/30 days.


There is a lesson here, I have said it many times before. Use a credit card for any form of deposit.


I strongly suspect the following still applies.

It’s easier for hotels and their systems to have their ‘cancel’ button simply not collect on the hold rather than properly reversing it. Usually it’s not the desk employee’s fault as such, they don’t know what’s going on under the hood (as we’re), but it is still the hotel’s fault.

It may be there’s a delay between them releasing your money and it being returned to you - I know refunds aren’t instant, I can’t remember if the same is true for holds that the merchant reverses.

The one clear truth, though, is this; it’s not Monzo’s fault that your money hasn’t been returned, they will will always return it immediately once they have received the correct instruction from the merchant.

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It’ll likely be from day 30 of the transaction being made, unless you can explicitly gain in writing confirmation from the hotel they won’t be collecting the funds, at which Monzo will be able to release it.

Needs to be clear correspondence with merchant name and amount.

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