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after contacting monzo support they told me i will be receiving the money left in the account all i had to do is send them my new bank details, and it would take 2-4 weeks it's about 3 months on now and i still haven't received anything what can i do? Form & Verdict. Min odds/bet and payment method exclusions apply. If you do come across one of these stories, its wise to take them with a pinch of salt. I was relying on that money, and I was stressed and anxious because I couldn't sort anything out, and I don't have any family members close. monzo closed account refund - helpers.sg However, it's not all rave reviews. Almost 3,500 people have joined a private Facebook group titled "Monzo stole our money". If you've received an email letting you know that you've received a refund and asking you to login to the app, please download the Monzo app and follow the instructions. John Bigg ''Oxo'' Handicap Chase - GG.co.uk Existing customers can get help via the app. denver museum of nature and science prehistoric journey. If you're expecting a deposit refund from a car rental company or hotel, it'll take around 30 days. A private Facebook group, "Monzo stole our money", has grown to 850 members, mostly customers complaining that their accounts were frozen without warning. This document will be password protected, and well send you the password to open it in a text message. And like all banks, we have to act in certain ways, to protect ourselves and our customers. On the next screen, scroll until you see the heading that fits your situation best, and then tap 'Dispute this transaction'. I was wondering how this will work with the Flex experience - will that purchase be paid off? monzo closed account refund It's stressing me out., Hopkins was stuck in the middle of a shopping centre with no money to buy food. Some customers posting on it report having up to 30,000 stuck in frozen business accounts and say they. Frozen Monzo Account (Refunded Payment) - Help - Monzo Community In this case, where a customer has been given two months before the account being closing, it means that theyve done nothing wrong by law, but Monzo have simply (for whatever reason) decided they no longer want them as a customer. Meu negcio no Whatsapp Business! monzo closed account refund My Monzo account was blocked for no reason given, I gave alternative details fro my funds to be transferred but ~I received a refund into the Monzo account a month or two later. Do drop Monzo an email to confirm what will happen, though. Im not in a sticky situation either way, but just keen to know how this side of it works before I use it again - Ive checked Help section and googled this, but come up with nothing so far. If dodgy stuff is confirmed (or unable to be shown to be legitimate) they'll close the account to protect themselves from facilitating further ML/fraud (as any bank that is found to do so can face a huge fine). If you used your account for anything cryptocurrency related, that might be why. Nobody here is going to know, because if its happened to them, they wont know either. Need it sooner? How do I get my money back? 'Criminals stole my Sim card and emptied my Monzo bank account - Which? However, when he got to a cashpoint in north London, his Monzo card was declined. We cant spell out every reason why we might block or close an account, or explain all the ways we spot fraud. It impacts our economy and can affect people in devastating, life-changing ways. Its likely that your old Monzo account has a positive balance. Thats not an acceptable risk for us. Bet 10* & Get 30* in Free Bets. I just didn't know what to do., When Hopkins contacted Monzo again, a customer service employee asked her if she had friends or family who could help: I said no, and I shouldn't need to [borrow money] because I have my own money., Hopkins received an email response from Monzo on the same day that VICE approached the company for comment. I have opened up a new account on the highstreet today, surely that indicates I am under no investigations. I would have thought having it set like this would open the system to abuse somehow. and our Monzo have flagged his account for something. Heres some more information about why this sometimes happens. What happens to that refund? This can happen as part of a financial crime investigation, and well co-operate with any requests from law enforcement. So obviously it cant be a security risk or a fraud risk issue as they still are allowing me to use their service for 2 months, right? If you paid with the virtual card, the refund might come into your current account, but more often it will directly go towards paying off the Flex instalment plan its connected to. To cut a long story short, I had current account and a joint account from Monzo and then out of the blue they froze and then proceeded to close both of my accounts, which is fine I can go back to my old bank, but I had a loan with monzo and they haven't even mentioned it during any . The start-up has done so well that, in 2019 after a new round of funding in the US, it was valued at around 2 billion. Information about our Personal Current Account Services, Please log in and verify your identity by recording a short video and taking a photo of one of your ID documents, Once weve verified you, youll be able to give us the details of another UK account for us to forward the money to. They're saying they can only refund to the original card Any idea what I'm supposed to do here? Its unlikely to happen to 99.9% of customers. If you need to send an item back to get your refund, the 14 days will only begin once the merchant receives the item. Criminals successfully stole 1.2bn from people in the UK in 2019 alone, Information about our Personal Current Account Services. Thats kinda worrying if what you say is true (I dont doubt that it is) but as a average user with no shadyness in my life like 99.9% of account holders, we could all be culled off for no apparent reason. From there you'll be taken into the flow to enter the process for raising a dispute with the merchant with our disputes team. About a day or two later, I got a message from Monzo saying I had to source alternative banking. Harford's Monzo account had been closed. We identify a risky customer. In the summer of 2019 a Facebook group, " Monzo stole our money ", was quietly set up by Ian Fisher after his account was unexpectedly closed by the digital bank. Sometimes freezing, blocking or closing accounts is part of that. (This is known as tipping off.). What's going on? I just started to get tired of it, and that's when I came across the Facebook group.. Irish Stallion Farms EBF Auction (Pro/Am) INH Flat Race (IRE Incentive My understanding was that UK banks have to give you a grace period to move your money to another bank of at least 30 days. Some users are accusing Monzo of freezing or closing their accounts for no reason, claiming to have had to wait to get their money back or even not receiving it at all. Finding out your bank has blocked or closed your account can be stressful and frustrating. 09446231). Taints my faith in them somewhat. (Monzo Closed Account Without Explanation). Why wouldnt I? I wondered if it would have gone tot he alternative account details I gave for them to transfer my remaining balance but apparently now. Were a regulated bank. It made me feel upset and angry because that's the only money I had for my daughter, she says. We contacted Monzo about Liam's case and it explained that it initially refused to refund him due to inaccuracies in his story. But the biggest issue i have is they said 2 months. That blog link doesnt apply to this customer, it only applies to those who have had their accounts closed immediately. Natalie Joyce no LinkedIn: Mental Health at Work: Managers and Money Monzo bank 'freezing accounts for no apparent reason' - the Guardian Powered by Discourse, best viewed with JavaScript enabled, Introducing Monzo Flex a better way to pay later. OP will have had his account flagged for something. 09446231). For over a month, I had no funds. I had my bank account closed since Late October, I was awaiting a refund from Adidas For around 800. Monzo customers shut out of accounts in lockdown You can use that refund to pay-off the Flex instalment plan by tapping pay off extra - or keep it in your current account and just pay off the remaining instalments on your Flex payment date. Free Bets are paid as Bet Credits. been abusive to anyone at Monzo or a member of our community. What can I actually do. New Customers only. Update on this earlier post. Announcing the move on its community forum yesterday, Monzo said 'things just haven't gone the way they should have'. If you have a Monzo Plus or Premium subscription youll need to cancel that first by following the below steps: If youd still like to proceed with closing your account please complete the below steps: Existing customers can get help via the app. The police tell us to. But if theyve checked it and given 2 months notice, thats the end of it. This Christmas Ive used the Flex system to get a small cash advance by splitting a payment over 12 payments with Curve Credit and then again with Monzo Flex. It's likely that your old Monzo account has a positive balance Please log in and verify your identity by recording a short video and taking a photo of one of your ID documents Our Financial Services Register number is 730427. I dont understand your point? Get in touch with proof from the merchant confirming that they plan to refund your deposit. Troubleshooting declined contactless card payment, Card payment declined but you've still been charged, Information about our Personal Current Account Services, Proof of the original receipt (screenshot or photo of paper receipt), Proof you spoke to the merchant (screenshot of the email you sent them), Optional: proof of cancellation (screenshot if you tried to cancel the order). Im afraid youll just have to take your money and pick another bank. We don't know what and we'll probably never know. Criminals successfully stole 1.2bn from people in the UK in 2019 alone. Monzo is allergic to cryptocurrency fraud risk, so they will sometimes close the account for that.