That’s insane! So your credit rating was adversely affected through no fault of your own. How many years ago? HSBC should correct their mistake and remove the information from your credit file.
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Wouldn’t the easiest solution to this problem be to open two :mondo: accounts? Use one as your main current account and the other as a travel account. When travelling, you can transfer the daily spend amount from the main account to the travel account. A transfer between two accounts within the same bank will be instantaneous. You could do this now with a traditional bank or building society and remove the need for a pre-paid card.
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I think you could do that but it would mean that you fragment your :mondo: reports.
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True, but it’s no worse than getting a separate pre-paid card, and probably quite a bit better. The primary :mondo: account would still have an accurate spend about in its reporting, but big chunks would show as transfers. You could classifying them as ‘travel’ or ‘expenses’. Then the travel Monzo account would have proper travel reports and details on spending. So you could look at one account to analyse your travel spending but still have full overall spend in your current account.
Not ideal, I agree, and integrated support for this use-case in a single :mondo: account would be better. But I think what I’ve outlined would be an improvement on what @endoftheQ is currently doing.
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In truth, when Monzo becomes a bank, I can use my account in exactly the same way as I use the current pre-paid card. I transfer from my main third-party bank account £500 a day and get the benefits of the Monzo card that way. However, it does disadvantage Monzo, as I’m never going to use them as my main bank account, so they lose the benefit of my current and saving account deposits that I’m holding at a different bank.
Out of interest, what would stop you switching to using Monzo as your main bank account?
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No cardholder name on debit card
I’d never risk compromising my main bank account.
Hey @saveen, apologies for the tardy response. I’m afraid a bank can suspend your account for any reason and the fall out is entirely your problem. In fact, they can close your account without giving a justification and there’s no right of appeal. http://d.pr/19NWN
The debit cards will have account holder names on them.
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So what do you mean by ‘compromising’?
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If you take a quick look up, I hope I’ve covered my reasons over a few previous comments. 
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My bad, I only read today’s posts 
No probs. I just didn’t want to copy and past and repost as all those who’d previously replied would no doubt wonder what the **** I was up to.
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@endoftheQ Surely you could move your main current account to Monzo and use another pre-paid solotion?
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No problemo @endoftheQ. A bank can close your account without giving a reason, but I think your case is slightly different.
Just to clarify, these were direct debits that bounced and not continuous-payment authorities? (using the long number across your debit card). I presume that you raised the issue with HSBC, what was their response?
Hey @saveen HSBC froze all transactions in-and-out to my current account.
I’m guessing that they do some kind of risk assessment when an account has been compromised. I often hold substantial sums in my current account and perhaps they make a decision on what level of liability they’re willing to assume, ie. £1000 is OK, but £100,000 isn’t, who knows?
In my case they insisted on giving me a whole new account, new debit and credit cards. However, they insisted that before that could happen, I had to come into a UK branch with photo ID, not exactly helpful when I was in Japan!
Hi @HoddzDJ In that case, I’d have exactly what I have now, there would be no advantage to moving to Monzo!
I just… erm… yeah okay.
̄ _(ツ)_/ ̄
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Obviously we can’t say for sure but I’m willing to bet that Monzo would handle an account being compromised in a way that would enable you to verify your identity while still in Japan.
As an example Jonas has talked about taking a 2 second selfie when you sign up for your account. You can then submit another to prove your identity in this type of scenario (possibly alongside other methods of verification).
Apart from anything, Monzo won’t have branches so the proof will have to be submitted digitally / by post (& - as Tom mentioned recently while on the panel at LendIt USA) they hate sending documents by mail just as much as we do).