I’m still having merchants not recognising the sort code and tell me it is not a UK bank. When I enter the 04-00-04 sort code into my bank to transfer money to my Monzo AC then it tell me it is ECO BANK, MWENGE BRANCH, UNITED REPUBLIC OF TANZANIA.
Is this why some direct debits are failing to be set up?
Yes I know it is in Old Street, London; but look what I see when I type the sort code into my bank to set up a transfer to Monzo. I’m wondering if some merchants are seeing this and thats why they tell me that they cannot set up the direct debit?
Just spoken to one merchant (ZOPA) and they have tried to update the direct debit details as I could not do it online; they are telling me they cannot add the Monzo sort code as it is not being recognised as a “traditional UK bank”.
Customers who want to move banks 100% to Monzo are going to be in the same position as me, with some direct debits coming out of legacy banks and having to move a proportion of salary payment income from Monzo to the existing bank to cover direct debits.
This hardly makes for a simply banking experience - which Monzo is meant to be all about.
I’m not putting any blame here, its probably one of those things that will improve over time; but I’m obviously part of the CA preview and hoping my feedback is helpful.
Hopefully these issues will be mostly resolved by the time the CA is released to the masses. With any luck only the early adopters will have to deal with the problems arising from out of date databases.
Just phoned Legal & General Insurance to update DD details - I have three policies with them.
The operator went into my first policy details - was able to update the sort code fine. She went into the second policy details (on a different “system”) and it failed to recognise 04-00-04.
I’m also seeing the same issue. I’m trying to transfer to my Monzo current account from Citibank and being told that it’s an “ECO Bank” branch in Tanzania, just as @nick69g sees. This is the first time I’m trying, but would have hoped that the EISCD database would have been updated as mentioned by @simon over a month ago…