Why was my overdraft offer withdrawn?

I got 1k overdraft 3 months ago and never use it but it was nice to have it for emergencies etc however today I received a message saying from today I won’t have an overdraft with Monzo any more and it is a bit shame. Why they offered an overdraft and then took it back? I had no missed payments never went to overdraft etc. My main account is up to date and my credit card have balance of £0. What would happen if I had emergencies and would be in overdraft for 1k and they would just ask me to pay it in full immediately? Not very very nice of them.It is like giving your child a candy and then take it back because you have change your mind.


That’s definitely odd. Have you contact customer support about it?

I sent them a message but no reply so far.

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Have you applied for or increased your credit elsewhere since you got the overdraft?

I have been offered my Credit card limit increase a week ago.

Just wondering if that could be the reason, your access to other credit. It’s just a wild guess with nothing to back it up though

I though access to other credit only shows reliability…

Not sure how Monzo are doing this but could it be because you haven’t used it, it’s been revoked?

Monzo are using overdrafts as part of the push for profitability and I’m sure they have to earmark £1,000 (for example) to give you should you start using your overdraft. This means because you aren’t using it, they have £1,000 in their coffers they have to keep free for you, which they’re not making any cash on. So, it would make sense that they would revoke your overdraft and give it to someone else who will use the overdraft and they can collect fees from it?

Might be completely wrong about this but was the first thing which came to my head, not sure if other banks do this for unused credit. The other option could be a change to your credit situation of course. which someone else has mentioned…

we are all making up scenarios without all the facts :slight_smile: :slight_smile:

Without knowing many of the details I would assume this is responsible lending , imagine if on your salary / wage each lending provider lent you up to the maximum that your income could sustain, you then max out each lenders offering you would be drowning in so much debt ??? - not saying you would be so irresponsible but others are …:slight_smile:


I think @iansilversides is right here.

I would recommend that @Zombezi reach out to the COps again through the in app chat and find out what’s happening. If it’s then not to personal it would be great if you could return to this thread and let us know what happened with your interaction.

Only if you would be comfortable in doing that of course.


I can predict the lottery numbers as well , although I haven’t been right yet :slight_smile:


They got back to me saying they received some new information about my credit file and offered to sign up to Noddle to see what is happening. Not sure why I need to use Noddle as I use Experian and there is a score of 965(Excellent) and show 0 factors dragging me down. My CreditWise shows the same and in sector what is going well I can see 0 missed payments,0 CCJ’S or Bankruptcies,0 accounts in arrears and 0 overlimit credit accounts so I send them the photos taken from the display but they still want me to sign for a Noddle account…

Noddle is the only one Monzo use (call credit)


Odd, I don’t have a Noddle account yet I have an overdraft? Interesting…

this is terrible - so your overdraft is cancelled because you got a credit card? how can one plan things financially when things like this happen out the blue?

at least you credit card apr will have a better rate than the overdraft? :laughing:


You can sign up for a Noddle account and it’s free - it just gives you online access to what CallCredit hold on you and their “credit score”.

Depending on who report to CallCredit they may have a different set of accounts and searches to Experian or Equifax.

CheckMyFile is paid for and shows information from all three. Alternatively you can ask for your statutory credit report from each of them for around £3 IIRC.

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I had a credit card for over a year they just increased my credit limit but I think this is not the case. I did sign up for noodle account and my report will be ready later today so I will be able to see if there was any changes.


It’s probably worth noting that the Credit Reference Agencies scores are their own scores, every bank including Monzo will score each person differently; they will have their own risk appetite and will base lending decisions on different factors. They will also target different sections of the market (i.e. more or less affluent borrowers, renters ‘vs’ home owners).

The scores are therefore pretty irrelevant.


I was just writing that, albeit in a long-winded fashion, but you’ve pipped me to the post!

Personally, I’m not hugely amazed that Monzo have removed an unused facility. Just like if you have a credit card that you don’t use, they will eventually cancel it. It happens.

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Worried Monzonauts (as in users not staff) all went and checked their credit scores now Noddle is down