The issue with Monzo is, unlike High Street banks, you can’t speak to someone and you can’t visit a branch to remonstrate with them for doing so. It appears that they are taking weeks - sometimes months to respond and unfreeze accounts. Often, it seems for spurious reasons.
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I just can’t imagine that this could happen. This would, put simply, ruin my life.
It does - just read Trustpilot and other reviews! There’s no incentive for them to address the issue.
This all seems very anecdotal
“Often” implies that it happens a fair number of times and to a fair number of people, but we have no hard evidence for that either way
Understandably, those affected, whether they were engaged in normal or dubious use of their accounts, will be more vocal, but even then we only see it mentioned here once or twice a month at maximum out of three million+ customers
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Indeed. The words “appears” and “seems” are doing a lot of heavy lifting here. I wouldn’t be using Trustpilot and/or Facebook reviews as a basis for anything, frankly.
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Obviously certain customers are being affected by this otherwise we wouldn’t be seeing these posts popping up on Facebook and other forums.
Now I’ve been reading what these people are going through it just made me consider what I would do if my account was frozen for weeks or even months at a time. It would be a major, major issue.
I think we’re all aware, 1. Monzo has to freeze account under certain conditions and 2. Other banks also do the same. Now that’s out the way lets deal with the real question.
What is Monzo doing to help these people who have had their accounts frozen through no fault of their own. How many people are affected? How long are people being frozen out of their accounts for?
For those people brushing this aside please take a moment to read their accounts and see why these people are so understandably angry and consider what you would do in their situation.
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The group setup for Monzo customers having issues with accessing their money now has over 200 members.
There is a legal procedure they have to follow and ‘no fault of their own’ needs to be established by a full investigation. What can monzo do? If they let them access funds then they could be illegal funds. Investigations can take a while
Take all the reports with a huge pinch of salt. Most of the reports are designed to put pressure on monzo to unfreeze. As they are regulated if all those reports of “I did nothing wrong” were true then they’d be in big trouble
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This one?
Looks like someone has too much time on their hands, but whatevs. I’m sure they’re all genuine folks impacted by the horrid Monzo Machine.
Some people are posting on forums that would never be seen by Monzo though e.g. moneysavingexpert. They posted not for putting pressure on Monzo but to ask for impartial advise on what they can do.
Also to say take it with a pinch of salt, if their position isn’t authentic what’s their end game? Why go to effort of posting on an independent forum asking for advice?
Maybe they post in forums where they already maintain a profile. There’s a subreddit for monzo so if I had a reddit account but not a monzo community account, I’d be more likely to post there than here (because setting up an account is effort, and we tend to stick to what we know).
Edit: also, people love a good moan.
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Well to be honest I guess it boils down to if you trust monzo as a brand that these freezes were required and that if you did an abnormal transaction that they would deal with it reasonably.
I’d be screwed if my account was frozen for more than a month but I still use monzo.
That totally obscure site forum that no-one has ever heard of and that does not have referral links to Monzo (or at least once did?)
Were I out to trash Monzo for whatever reason that would be where I start, not where I hide away
The Monzo group is hilarious, I know it must be terrifying to have your account limited or blocked for the true false positives but frankly I smell trolls or BS for most of those posts.
Given the amount of even a minimum wage packet I cant imagine it’s transfers or incoming payments under 2k, otherwise the compliance robots would be very busy. Dodgy information on application or presence on fraud databases maybe? That said I’d imagine those checks are done live at account opening.
If anything though, it reinforces the wisdom of not having all your eggs in one basket.
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I’d be wary of taking anything on Facebook as sacrosanct because it’s a medium for misinformation and they do little, if anything, to combat misinformation despite assurances to the contrary.
I’ve seen the MSE posts on Monzo, I’ve seen them on every bank, I remember Santander leaving my mother high and dry for something like 5 weeks while they investigated something on her account and they admitted that it was card fraud by someone else early on, they just were extremely lax in resolving the issue.
Going back even further I had issues with Bank of Ireland, that took too long to resolve, its not a new phenomenon and it is not isolated to any one bank.
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Hi all,
Before this thread goes off-topic, just a quick reminder that we can’t provide any account support here on the forum. Please get in touch with us through the app if you have any specific questions about your Monzo account.
As @Dunsford posted above, this post covers the reasons why we (and all banks) sometimes freeze or block accounts.
I’m going to lock this thread now, because there’s not much else to say, and I can see us going in circles.
Thanks!
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