Announcing the move on its community forum yesterday, Monzo said 'things just haven't gone the way they should have'. Free Bets are paid as Bet Credits. How do I get it back? Sometimes blocking or closing accounts is one of the ways we do this. And we can close an account immediately in some situations, like if we think youve broken the law or breached our terms and conditions. 09446231). Have you had a change of circumstances? Only like you said, if it was fraud related. Having a wage deposited into it and its all been fine. They havent just randomly decided to close his account. We dont know what and well probably never know. Some users are accusing Monzo of. If you've been waiting more than 14 days, please check that the merchant definitely sent the money. I had my bank account closed since Late October, I was awaiting a refund from Adidas For around 800. It's probably easier for Monzo to simply reject the refund. monzo closed account refundplains, plateaus, and mountains worksheets. I was wondering how this will work with the Flex experience - will that purchase be paid off? It's all the same: I'm sorry for the inconvenience, we don't have a time frame, we can't tell you why. I've told them I have a baby. been abusive to anyone at Monzo or a member of our community. If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. Unfortunately none of us here can say what the reason might be, as were not privy to Monzos internal discussions. If the account is closed it'll probably return to the sending bank If you have evidence of the account being closed provide it to the entity refunding you, they may require this evidence to have it paid anywhere else for AML reasons harryalex99(Harry Alexzander) 21 January 2021 17:19 #3 Place your first bet, if it loses we will refund your first bet stake as a free bet. Ive asked Monzo to take a look at this via chat, but were at 9 days now and Im still yet to get a response from a specialist. Weve taken the unfortunate decision to close yours with immediate effect., The email also said that Hopkins funds will be returned to the source., According to Monzos Terms and Conditions, the company reserves the right to close an account at any time, particularly if it believes fraudulent actions are taking place. When our fraud systems spot activity that might be suspicious and we decide to block an account, we aim to have a person review it within 10 minutes (night or day). If the account is closed itll probably return to the sending bank, If you have evidence of the account being closed provide it to the entity refunding you, they may require this evidence to have it paid anywhere else for AML reasons. They should be able to provide evidence of what card it was refunded to, its probably the one you paid on, but Monzo wont get the money if the account is closed, it will bounce back but this can take quite a bit of time. So of course Im going to keep the money in a pot until its due back. It was around December last year when Rhys Harford, 25, first noticed a problem. If our review finds theres a perfectly reasonable, legal explanation for the activity, we of course immediately unblock the account and apologise. Form: 2- BF. Monzo Help - Closing your account If you're expecting a deposit refund from a car rental company or hotel, it'll take around 30 days. My account was closed about 8 months ago which is fine and I accepted it, but I need a refund from an airline for a flight I was supposed to take in March 2020, but booked in June 2019 with my Monzo card. 6 yo Gelding. New comments cannot be posted and votes cannot be cast. Heres some more information about why this sometimes happens. We know this can be very frustrating, and were not being deliberately difficult. Recently the "Specialist" support team contacted me saying I have been found to have commited fraud through LocalBitcoins and other cryptocurrency platforms (which is completely untrue seeing as I have stolen no one's money and I only use LBC). They usually cannot legally tell you this - it's literally the law they would break if they took pity on you and told you. Why have I received an email about a refund from my closed account? - Monzo Why have I received an email about a refund from my closed account? As soon as you receive notice that your bank has closed your account, you need to take immediate action in order to be able to continue to pay your bills and manage your money. Thats why like many banks, we constantly evolve our approach to financial crime and the risks that come with it. It means youre effectively given a cash advance in your main balance that you can either pay back monthly or immediately. Were sorry to see you go. If youve been waiting more than 14 days, please check that the merchant definitely sent the money. We contacted Monzo about Liam's case and it explained that it initially refused to refund him due to inaccuracies in his story. According to Resolver, an independent online complaints service, more up-to-date Monzo complaint figures may be even higher. Getting your car rental or hotel deposit refund. Taints my faith in them somewhat. 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. I went to transfer the money over to my other account, just in case the card wasn't working [but] it didn't let me transfer it., I was in the middle of the shopping centre trying to text Monzo, and they texted me back and said my account had been frozen, and they couldn't tell me why or when it was going to unfreeze, she continues. Cookie Notice If youve received an email letting you know that youve received a refund and asking you to login to the app, please download the Monzo app and follow the instructions. and our Refunds take up to 14 days from when the merchant processes it. 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. What to Do If Monzo Freezes or Closes Your Account - Vice I dont understand your point? So we might block the account on our side to investigate, and close it depending on what we find. Over the weekend that 55 cash advance became a 139 cash advance as the merchant has now refunded the duplicate transaction, but the 55 Flex balance hasn't automatically settled and Monzo's 88 chargeback refund is still in my account too. 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? Ive posted about this previously. It made me feel upset and angry because that's the only money I had for my daughter, she says. 'Criminals stole my Sim card and emptied my Monzo bank account - Which? Privacy Policy. Monzo closes premium packaged account to new customers Irish Stallion Farms EBF Auction (Pro/Am) INH Flat Race (IRE Incentive I have opened up a new account on the highstreet today, surely that indicates I am under no investigations. Our Financial Services Register number is 730427. 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. OP will have done something or some flag for it. 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. Would be nice to know, in at least a vague sense, the criteria, so as a customer I can try to avoid falling into it. They were quick to respond, but not with very helpful advice. Ive been told that a purchase Ive made using Flex (my first ) is to be refunded in X working days. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Account closed but I need a refund from an airline : r/monzo - reddit Most refunds will come back within a day or two but sometimes they can take up to 2 weeks, so it's always worth checking your Flex 'Manage' tab and current account. 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. Reading about other people it seems their accounts were cut off immediately (and monzo claimed something like 95% of those decisions were correct- which they would do ofcourse and i assume they put it down to fraud or some sort of dodgy thing). But if theyve checked it and given 2 months notice, thats the end of it. That blog link doesnt apply to this customer, it only applies to those who have had their accounts closed immediately. Corporate_Drone31 2 yr. ago. Our Financial Services Register number is 730427. Min odds/bet and payment method exclusions apply. Min odds/bet and payment method exclusions apply. If youre having any trouble downloading the app, logging in or approving your identity or you need us to send your balance to an international account please email remainingbalance@monzo.com with the following information: Please also send a selfie holding your ID, so we can verify your identity. Monzo Bank Limited is a company registered in England and Wales (No. It was a refund from Ticketmaster in October they also did not contact me to let me know but they are saying that it was refunded and I have to wait 15 days for them to find out where it went. But this theyre saying i can still use everything for a further 2 months then on the 18th april itll be cut off. 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. If you follow the in-app flow, the money should arrive instantly but can take up to two hours. 09446231). If you do not, your paycheck may go to the bank, but you will not be able to access the funds. Have you stopped being a resident in the UK? This can happen as part of a financial crime investigation, and well co-operate with any requests from law enforcement. Monzo under investigation by FCA over anti-money laundering rules I can imagine TS Anil or Anne doing the draw themselves at the Monday morning staff stand-up, Powered by Discourse, best viewed with JavaScript enabled, Monzo giving two months notice of account closures, Just received a mail that Monzo are closing my account, Devastated About Account Closure after 2 years. Monzo have flagged his account for something. In a private Facebook group called Monzo stole my money, which now has over 1,300 members, many are furious that their accounts have been frozen without notice, claiming that the company is being unclear about where their money has gone, or when it will be returned. That 400 was everything I had to last 'til after Christmas.. monzo closed account refund I am being treated as a fraudster without any due process. It usually happens if a change of circumstances or behaviour means a bank no longer wants to provide banking facilities to you, Its in every banks T&Cs that they can terminate the relationship by giving you 1-2 months notice and when they close the account in cases like this they just point to that bit of their T&Cs, we could all be culled off for no apparent reason. If you do come across one of these stories, its wise to take them with a pinch of salt. In response, HSBC said in a statement: 'A customer who has closed their credit card would be entitled to any refunds that are . It's stressing me out., Hopkins was stuck in the middle of a shopping centre with no money to buy food. Update on this earlier post. Why have I received an email about a refund from my closed account? It impacts our economy and can affect people in devastating, life-changing ways. so what other reasons could it be? I've had an inconvenience, which is frustrating," says Harford. If fraud is involved, regular rules around account closures do not apply. Digital bank Monzo has closed its fee-charging packaged current account to new customers five months after launching it and is refunding some of those who signed up. very strange situation here. They're saying they can only refund to the original card Any idea what I'm supposed to do here? 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. 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). As we mentioned, explaining some of the reasons we close accounts could give fraudsters clues that might help them get around our security controls. Payment refund - Help - Monzo Community monzo closed account refund Almost 3,500 people have joined a private Facebook group titled "Monzo stole our money". Last month, it told the Guardian that it had received over 700 complaints about Monzo the majority of which were in the last six months. Refunds for purchases made with Flex? - Help - Monzo Community VICE reached out to the Financial Ombudsman Service, the body responsible for financial complaints in the UK. 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). VICE spoke to Monzo users who claim their accounts have been frozen or closed, with some waiting weeks to have their money returned. Do drop Monzo an email to confirm what will happen, though. I went to the shop to buy my daughter some food, and my card got declined, she explains over the phone. gold coast shark attack video; giant schnauzer service dog for sale 'If criminals get access your online banking via your Sim card, they can charge your details, set up new payments and even open up another account or take out a loan,' Steve told us. During those weeks I kept contacting Monzo and going, What's going on? Monzo is allergic to cryptocurrency fraud risk, so they will sometimes close the account for that. In Section 14 our terms and conditions, we explain some general reasons we may close or block an account. If you used your account for anything cryptocurrency related, that might be why. Your first step should be to contact the merchant and see if it has bounced back. I havent moved country, or moved address, or done any transactions i havent done many times over for months, just your normal wages coming in and amazon type transactions. Wide margin winner of his sole point-to-point for Cormac Farrell in November was overturned at long odds-on in this event last year, albeit finishing a clear second to the now very useful 138-rated hurdler Three Card Brag; 20-1 shot for the Cheltenham Bumper . Monzo Closed my Account with no warning or notice and I am outraged Hopkins' email response, which VICE viewed, said: As per our terms and conditions, we reserve the right to close an account at any time. Managers have more impact on our mental health than doctors and therapists! Rest assured we investigate all cases thoroughly and only take action when we're confident about our decisions. But your point was Monzo legally cannot tell you why. which is not true unless its AML or fraud. Other than a monthly wage coming in theres been no other incoming transactions since November too. Monzo says 'no' to refund as thousands are lost to cold-callers Monzo has closed its Monzo Plus packaged account to new customers just four months after it was launched. Frozen Monzo Account (Refunded Payment) - Help - Monzo Community To protect peoples money and stop criminals using Monzo for illegal activities, well block accounts when we suspect this is happening. How is this fair? New Customers only. It might take a while, but you should get your money back in the end. 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 . Or will the end up in my main account or something else? VICE viewed the . Monzo closed my account but I have a loan with them. Why we sometimes freeze, block or close Monzo accounts Im afraid youll just have to take your money and pick another bank. A day later I end up having payments blocked on my account suddenly and then within an hour my account was shutdown without warning or reason, stating that, "The outstanding balance of your account have been returned to their originating source". Monzo bank 'freezing accounts for no apparent reason' - the Guardian In response to a 2019 Watchdog investigation into Monzos freezing of peoples accounts, the bank told the BBC: Typically, if we discover that activity is not suspicious, an account that has been frozen is reactivated in ten minutes. Im afraid this customer forum isnt the place to discuss closed accounts. 09446231). The police tell us to. Monzo Bank Limited is a company registered in England and Wales (No. Yeah i did think that. ! We identify a risky customer. Powered by Discourse, best viewed with JavaScript enabled, Introducing Monzo Flex a better way to pay later. For more information, please see our Why wouldnt I? What's going on? I just started to get tired of it, and that's when I came across the Facebook group.. Mr Fisher was angry that. Sign up, deposit between 5* and 10* to your account and bet365 will give you three times that value in Free Bets when you place qualifying bets to the same value and they are settled. Monzo Premium is for customers aged between 18 and 69 years old and comes at a monthly cost of 15 for a minimum subscription of 6 months. We'll add 8% interest, applied from the date we originally received the money. monzo closed account refund If the refund is for the full value of the purchase, there will often be some left over which well put back into your current account. Monzo legally cannot tell you why. The stories on it may alarm some of. Criminals successfully stole 1.2bn from people in the UK in 2019 alone. This process is the same as any other High St banks. I contacted Monzo, and they told me they had nothing at this time. There are some common signs that someones using an account for criminal activity. He. If weve blocked or closed your account, its very likely we wont be allowed to tell you specifically why. This document will be password protected, and well send you the password to open it in a text message. There isnt a tombola with all our accounts on and they pull one out every Monday morning and that person gets their account closed. For over a month, I had no funds. 21/09/18 - 5 accounts now closed. Im only able to do this because refunds from a flex purchase dont repay the balance.