Why does Monzo ask to confirm tax residency

I just received this email:

“ As a regulated bank, by law we need you to confirm your tax residency annually.
“Tax residency” means you need to pay tax in another country, usually based on how much time you spend there.

Please can you do this as soon as possible? You can do this in the app in a few taps.”

It’s unclear : why do they say that “tax residency means you need to pay tax in ANOTHER country, usually based on how much time you spend there”??

Is this a scam ?
I live in the Uk - I don’t understand Monzo’s definition and it’s creating confusion

There have been countless threads on this today

2 Likes

This is not a scam.

It’s an automated email
I was not asked to give info about myself, just to click (like everybody else).
I know they do it every year.

I am asking regarding the weird phrasing (in bold)

I read they started sendin’ these emails last week.
However I found it to be weirdly phrased and that raised my anxiety.
Cuz I’m pretty sure that TR usually refers to the Country where u spent 184 days in a year.
This is the definition used by most providers,
Not “ another country usually based on how much time you spent there”.

That rule varies by country so they can’t give a definitive set of rules that covers all countries

1 Like

Bizarrely, the link itself is suspect:


monzo://backend_screen?id=tax-residency:confirm&instance_params_id=confirmation


I wouldn’t click on it.

1 Like

That’s a link to the Monzo app :thinking:

If it was a different app it would start with that name. The rest is fairly self explanatory.

2 Likes

That’s a deeplink which will open the Monzo app at a specific point. Deeplinks don’t generally open using a browser to inspect, but you can paste into a Slack post and tap on it from there to open it.

In this case, it starts the Tax Residency Confirmation flow which really is a confirmation:

Can someone help? I received the same email asking me to confirm my tax residency.
I opened the email on both an iPhone and an Android, but the blue button does not work on either - it is “unclickable”!!
Please advise…

Type Tax into help on the app, if your already set to UK then your fine just ignore it

1 Like

Means you’ve already confirmed your tax residency?

1 Like

In the meantime, I did, thank you, by searching on the app for “Tax residency” topic and getting to the right part of the app step by step. But yes, that link in the blue rectangle in the email is still dead.