I’ve never had this before, but I accidentally entered the wrong CVV on the checkout of a website.
Payment went through and I received the following notice in the app.
Which I thought was a nifty feature, however my order on the website was then declined because the CVV was incorrect 
Now I’ve had payment taken, no order, and I’ve to wait for it to drop off.
It doesn’t sound like this feature solves anything, unless this what I’ve experienced is uncommon?
Quote from the merchant…
On face-value, this looks like Monzo has debited the funds from your account but the merchant ‘refused’ to accept the funds due to the (user-entered?) error, so Monzo should bounce that debit back you asap.
Frustrating that the order was not processed - but overall, it looks like the error-checking/payment-processing/security has worked as it should?
They should, and hopefully they will 
as 2 payments were taken and it’s quite a large amount. Which makes this feature a little more concerning.
Disputing the transaction through Monzo looks time consuming because it asks for receipts and proof from the merchant etc. Even then it quotes 7-10 days just to look into my claim.
I assume this particular merchant has additional checks, and the order would go through on most websites? 
A CVV is an additional check merchants and payment processors use, but it can be possible for payments to go through without it, or even with the wrong one if the merchant didn’t use it for verification (like yours did).
It wasn’t that long ago Amazon used card number and expiry alone.
It’s crazy 
and so it the Amazon example.
2 days so far and several hundreds of pounds are being held. I’d rather my card just declined.
Monzo used to tell you the reason in app and I’d have corrected it there and then. One order, one payment, everyone is happy.
Some merchants put fraud protection settings on, so if you don’t enter all details correct, including billing address the payment declines.
Payment can show as been taken or pending but payment falls back into your account but this can take up to 5 or sometimes 7 working days.
I agree, in this situation I’d rather it declined than take my money for a potentially long time if it’s likely to not go through with the merchant.
