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 neve…

Hi again, I’ll do my best to address lots of the main points here! If you haven’t already, please read these two posts ( Post 1 , Post 2 ) first for more context. As a reminder, we’ve taken overdrafts away from some users because we received new information from our Credit Reference Agency (Callcredit…

To be honest, surely removing an overdraft unused and a person’s credit history might of changed Is a sign of responsible lending. If someone’s already showing they are late on payments and could do without added chargers sounds proactive not reaction. But what do I know? I’m in debt so ain’t in a …

Folks, generally if a thread gets auto-closed due to a huge amount of flags, it’s a sign that things have gotten a little too far, so this one will remain closed whilst we investigate.

Heya, things got a bit heated - so we’ve removed some posts. Re-opening the thread now! As a reminder, here’s our previous post offering some light on things: [image] Why was my overdraft offer withdrawn? Help Hi, I’m one of the product managers working on overdrafts. …

What I’d like to see is an option to lock/unlock a pot, or something along these lines, giving the account holder control over whether money from a pot can be used if the main balance goes below £0. For example: I’d like to be able to lock my “Bills” pot, making sure I’ll always have enough money …

I’m a bit confused. If a user was using their overdraft, and something new came up on their credit report are Monzo saying that they wouldn’t cancel it? If I had an overdraft I’d want some sort of certainty that it would remain in place. Like many people I would use an overdraft as an emergency fun…

I too have had my £1000 overdraft removed today. I received the same generic message about something on my credit file changing blah blah but nothing has changed. I wasn’t using the overdraft so I’m not bothered but I was genuinely looking to start using it as my main account in the coming months. T…

I think the non transparency bit is around the removal right away without much notice. Other than that, any reasons why provided to us forums users would be a breach of data protection. It’s up to the individual to check their credit file for any potential impacts.

I think you are right. Blaming a change on a credit file is just a cop out.

[image] seahorsejockey: Blaming a change on a credit file is just a cop out. How so? If there has been new information on a persons credit report that results in them no longer being eligible for credit how is that a cop out?

Why was my overdraft offer withdrawn?

UK Help

anon44204028 6 July 2018 16:36 115

Yes, Monzo’s overdraft policy is simple

Use it or lose it!

An Update on Overdrafts

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An Update on Overdrafts News & Updates	243	23586	6 July 2018
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Why was my overdraft offer withdrawn?

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