Why did Monzo close my account the day I received my tax return?

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22

I got their final answer, which is empty.
I didn’t left any money, my account has been frozen 1 or 2 hours after getting the funds.
I never lost money on stocks or cryptos.

23

well good luck in your complaint then :slight_smile:

24

Our final response: We’re unable to uphold your complaint

25

let us know what the ombudsman says …

26

Hahaha, I guess, I hope I would have my money by then !

27

Hopefully you will but if not you’ll be compensated if you’ve been treated unjust.

29

All I can say is that Monzo have invested a LOT of time in creating anti-fraud software and machine learning to spot patterns of fraud. There MUST be something in it. Links to fraud, incorrect tax claims, or something that just doesn’t add up when compared to the bigger picture that they clearly have.

All banks work in the same way, unfortunately for Monzo, their transparency on an open forum puts them in the firing line… and all other banks just keep it quiet.

1 Like
30

I really hope, Monzo is improving that software otherwise it’s just a ‘‘lucky dip’’ when your or my account will be flagged :game_die: :slot_machine:

31

It’s not a lucky dip, but if you want to carry on peddling that myth then fair enough.

Banks do not close accounts by lucky dip.

6 Likes
33

I have nothing to worry about… all banks have fraud systems in place.

It’s all done to stop crime anyway… it appears that’s a good thing for the safety of my money

2 Likes
34

I don’t think ‘lucky dip’ would meet FCA standards

1 Like
36

Can’t be talking sense anymore with this person, it doesn’t fit with their narrative.

1 Like