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. 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". If you have any issues with the in-app flow and provide your defund details by email well aim to transfer it within 7 working days for UK accounts (2-3 weeks for international payments). Sometimes freezing, blocking or closing accounts is part of that. Monzo says 'no' to refund as thousands are lost to cold-callers If you follow the in-app flow, the money should arrive instantly but can take up to two hours. Existing customers can get help via the app. Monzo bank 'freezing accounts for no apparent reason' - the Guardian I dont understand your point? We contacted Monzo about Liam's case and it explained that it initially refused to refund him due to inaccuracies in his story. If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. 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? Monzo Bank Ltd (/ m n z o /), is an online bank based in the United Kingdom. If you need to send an item back to get your refund, the 14 days will only begin once the merchant receives the item. Place your first bet, if it loses we will refund your first bet stake as a free bet. We have robust processes and controls in place to flag any unusual activity in Monzo accounts.. Free Bets are paid as Bet Credits. Refunds take up to 14 days from when the merchant processes it. Need it sooner? We know this can be very frustrating, and were not being deliberately difficult. According to the most recent data it holds on Monzo from January to June 2019, it received 140 new complaints against the bank. [Blog link was removed]. Or will the end up in my main account or something else? Launched in 2015, the company sees 40,000 new bank accounts opened each week, according to figures published on its website. Carrickmines Handicap Chase (Grade B) - GG.co.uk '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. It impacts our economy and can affect people in devastating, life-changing ways. Monzo closed my account but I have a loan with them : r/monzo - reddit Just as you can choose which bank you bank with, they can also choose who they maintain banking relationships with. I contacted Monzo, and they told me they had nothing at this time. 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. During those weeks I kept contacting Monzo and going, What's going on? 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. Quick question. What can I actually do. We dont know what and well probably never know. I was incredibly shocked as I felt like I was being treated as if I was a criminal, Harford says. But the biggest issue i have is they said 2 months. He lost 4,000, saved for his son's enrolment at university in September, after being called by a fraudster from a number that matched Monzo's, flagging suspicious activity on his account. But this theyre saying i can still use everything for a further 2 months then on the 18th april itll be cut off. monzo closed account refund If you need to send an item back to get your refund, the 14 days will only begin once the merchant receives the item. They were quick to respond, but not with very helpful advice. 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. 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. 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. There isnt a tombola with all our accounts on and they pull one out every Monday morning and that person gets their account closed. Our Financial Services Register number is 730427. Monzo can not (by law) tell the customer this is why their account has been suspended. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Refund into closed Monzo account. (Monzo Closed Account Without But your point was Monzo legally cannot tell you why. which is not true unless its AML or fraud. Have you had a change of circumstances? Its funny you say that because Ive heard back from chat now and the response pretty much amounted to lol, sort it out yourself mate. Refunds for purchases made with Flex? - Help - Monzo Community monzo closed account refundplains, plateaus, and mountains worksheets. If fraud is involved, regular rules around account closures do not apply. Meu negcio no Whatsapp Business! There's more here about two ways to pay So refunds can appear differently depending on whether you used the virtual card or moved the transaction to Flex after. For legal reasons they won't be able to discuss it with you whilst the case is ongoing. If you used your account for anything cryptocurrency related, that might be why. Monzo has closed its Monzo Plus packaged account to new customers just four months after it was launched. I was wondering how this will work with the Flex experience - will that purchase be paid off? 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. It was around December last year when Rhys Harford, 25, first noticed a problem. Why have I received an email about a refund from my closed account? A spokesperson for the Financial Ombudsman Service told VICE: If youre unhappy with your provider [bank], get in touch with the Financial Ombudsman Service and well see if we can help.. If weve blocked or closed your account, its very likely we wont be allowed to tell you specifically why. So refunds can appear differently depending on whether you used the virtual card or moved the transaction to Flex after. 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. Were a regulated bank. Statements Some users are accusing Monzo of. In response, HSBC said in a statement: 'A customer who has closed their credit card would be entitled to any refunds that are . So of course Im going to keep the money in a pot until its due back. 18+ only. Why wouldnt I? What reasons would they have though?? Monzo legally cannot tell you why. 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 If you do not, your paycheck may go to the bank, but you will not be able to access the funds. Account closed but I need a refund from an airline : r/monzo - reddit After being criticised by. This document will be password protected, and well send you the password to open it in a text message. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. That blog link doesnt apply to this customer, it only applies to those who have had their accounts closed immediately. Our Financial Services Register number is 730427. Last year, hundreds of Monzo customers complained that their accounts has been closed or frozen without explanation. Why have I received an email about a refund from my closed account? - Monzo Monzo is allergic to cryptocurrency fraud risk, so they will sometimes close the account for that. Im only able to do this because refunds from a flex purchase dont repay the balance. If the account activity does seem suspicious, we have to report it to the National Crime Agency, and wait for their response before closing the account. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Monzo Help - How do refunds work in Flex 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. 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. However, it's not all rave reviews. There are two ways you can buy with Flex. Do other banks pull stuff like this? If the money has been credited to your account then Monzo will be able to advise on how you can get hold of it and the rest of your funds after they've concluded their investigation. 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. Monzo Plus/Premium What happens to that refund? VICE spoke to Monzo users who claim their accounts have been frozen or closed, with some waiting weeks to have their money returned. But if theyve checked it and given 2 months notice, thats the end of it. You can use your virtual card, or you can pay with your Monzo debit card and then move the transaction to Flex up to two weeks after you made the payment. New Customers only. 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. This is a first Ive heard it happen to a personal current account, and I dont like it one bit. We don't know what and we'll probably never know. 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. This process is the same as any other High St banks. Monzo customers shut out of accounts in lockdown Our Financial Services Register number is 730427. It's probably easier for Monzo to simply reject the refund. very strange situation here. Ive been told that a purchase Ive made using Flex (my first ) is to be refunded in X working days. You can find more information in the terms and conditions.