2 months and monzo still frozen my funds!

NewToTheUkAgain

Jonnygee whilst I’m not saying you’re wrong, as I factually do not know the answer...... BUT I find this hard to believe

colsten

Thrugelmir wrote: »

Where are your in-laws?

What other activity has there been through your bank account in the past?

And what other activity has gone through the in-laws bank account? I appreciate the OP may not know the answer to that Q, but it is a possibility that the problem lies with the in-laws.

Terry_Towelling

Yes, all very strange.

On the face of it there should be no reason to close the account and keep the cash - unless OP has used their account in a dubious manner previously.

So, that does point to a question over the source of the funds. One wonders whether the in-laws bankers have been in touch with OPs bankers with concerns over its source.

OP what do your in-laws say about all this? I don't expect you to air their answer on this open forum but they must presumably have some input to the debate.

MarcoM

jonnygee2 wrote: »

In many situations they do not need to return the funds.

Once the decision not to return the funds, there is nothing a consumer can do about it.

they cannot keep someone's fund indefinetly without providing an explanation, unless we live in a dictatorship I guess.
If they held the funds indefinetly I would have expected the OP to have received an asset freezing order from NCA which is not the case here.

rachael11

This is why I decided to give up my Monzo account and try starling. I've heard so many stories of people having their funds frozen if it's over £2,000. Go on their facebook page, there are plenty of people complaining about the same thing!

Thrugelmir

rachael11 wrote: »

This is why I decided to give up my Monzo account and try starling. I've heard so many stories of people having their funds frozen if it's over £2,000. Go on their facebook page, there are plenty of people complaining about the same thing!

There'll be a reason behind it. Millions of people operate bank accounts every day with no trouble at all. As fintech providers they may well attract a younger naive type of clientele. Banks will operate very sophisticated systems to identify unusal and in appropriate account activity.

jonnygee2

they cannot keep someone's fund indefinetly without providing an explanation,

They can. As you are clearly struggling to believe this, check out complaint DRN5146002 on https://www.ombudsman-decisions.org.uk/ - when the OP finally gets to FOS this is pretty much exactly what the Ombudsman's statement will look like, basically a repetition of:

- The bank can keep the funds and this is reasonable
- The bank do not have to tell them why, ask for more information, accept more information
- There is no onus on the bank to provide any kind of timeline or indication that the money will be returned
- Any claim will need to be brought the courts, FOS is unable to make a judgement about where the funds should be released to.

And so it will continue ad nauseum. It really is a waste of time to continue to appeal to the bank or the regulator.

jonnygee2

Another example is DRN4372549 - this one is actually a decision about Monzo. Same thing, same story.

brianposter

jonnygee2 wrote: »

Another example is DRN4372549 - this one is actually a decision about Monzo. Same thing, same story.

You, however, appear to be misrepresenting the story - which seems to be that the customer needs to go to court to reclaim their funds.
(and that, as often seems to be the case, the ombudsman is much less useful than one might expect.)

jonnygee2

You, however, appear to be misrepresenting the story - which seems to be that the customer needs to go to court to reclaim their funds.

What have I misrepresented exactly? The Op is free to take the bank to court, the outcome would be the same and they'd lose money as well as time, but their choice.

Also FWIW I disagree about the ombudsman, I find they often provide a fair and reasonable service to consumers.