»

Monzo apologises for bank transfer problems - MSE News

New Post Advanced Search

Welcome to the new MSE Forum!

If you were registered on the old Forum BEFORE 6th February 2020, you will need to reset your password (here) before you are able to log in. When you've reset your password, you can close this message with the 'X' in the top-right corner to make it disappear. If you need any help getting started, click here.

Monzo apologises for bank transfer problems - MSE News

edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts
18 replies 2K views
MSE_CallumMSE_Callum
647 posts
Forumite
Second Anniversary I've been Money Tipped! Newshound!
✭✭
edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts
App-based bank Monzo is investigating a problem that is delaying bank transfers, or causing them to fail...
Read the full story:
'Monzo apologises for bank transfer problems'
OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply.
Read the latest MSE News
Flag up a news story: [email protected]
Get the Free MoneySavingExpert Money Tips E-mail
«1

Replies

  • BrownTroutBrownTrout
    1.1K posts
    Forumite
    1000 Posts First Anniversary
    ✭✭✭
    Had a transfer in which took about 3 hours to receive
  • 20SmthngSver20SmthngSver
    420 posts
    Forumite
    100 Posts
    ✭✭
    Joy of banking solely on an app!
  • My girlfriend is very worried at the moment. She lives in Hong Kong and uses the Monzo banking app. She uses the Hang Seng Bank to transfer HKD to GBP in her Monzo account. She recently sent two payments via the Hang Seng Bank in Hong Kong to her Monzo account. The transfer goes via Barclays UK.

    She sent two payments of £10,000 within 2 days, the first on October 8, the second on October 9, both via IBAN. The second of the payments went through with no problems, but the first payment was never received. She contacted Monzo who told her that they cannot see any information relating to the first transfer, but the Hang Seng Bank have told her both transfers were successful and she has reference numbers for both transfers.

    If the transfer has failed, she would have expected the money to be returned to her Hang Seng account, but nothing has been received because Hang Seng say both transfers were ok.

    Apart from contacting the Financial Ombudsman, I`m not sure what to do. :(
  • eskbankereskbanker
    12.7K posts
    Forumite
    Tenth Anniversary 10000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    In the UK environment, it's the sending bank that's expected to investigate the matter and to liaise with the other bank(s) involved. On that basis, it seems unlikely that Monzo would accept responsibility for sorting it out, and so FOS are unlikely to be in a position to help either, if the UK-regulated institution has complied with its obligations, so pursuing Hang Seng seems to be the route to go, escalating to a formal complaint if unsatisfied....
  • Gary_DexterGary_Dexter PPR
    7.5K posts
    PPR ✭✭✭✭
    Joy of banking solely on an app!

    How is that relevant?
  • 18cc18cc
    2.1K posts
    Forumite ✭✭✭✭
    i remember back in the day writing a cheque and putting it in the post..

    P.s. what is the definition of a millisecond it is the time between pressing pay and complaining that the money hasn't arrived at the other end
  • Thank you very much for the help. Ok, I`ll get her to go to Hang Seng to see what they say. Monzo have been less than helpful at the moment.
    eskbanker wrote: »
    In the UK environment, it's the sending bank that's expected to investigate the matter and to liaise with the other bank(s) involved. On that basis, it seems unlikely that Monzo would accept responsibility for sorting it out, and so FOS are unlikely to be in a position to help either, if the UK-regulated institution has complied with its obligations, so pursuing Hang Seng seems to be the route to go, escalating to a formal complaint if unsatisfied....
  • DCFC79DCFC79
    37.8K posts
    Forumite
    Part of the Furniture 25000 Posts Name Dropper
    ✭✭✭✭✭
    How is that relevant?

    That post was from end of may, hamaaski has ressurrected a nearly 5 month old thread.
  • DCFC79DCFC79
    37.8K posts
    Forumite
    Part of the Furniture 25000 Posts Name Dropper
    ✭✭✭✭✭
    hamasaki wrote: »
    Thank you very much for the help. Ok, I`ll get her to go to Hang Seng to see what they say. Monzo have been less than helpful at the moment.

    Monzo arent the bank responsible, the sending bank can surely recall the payment, they can do more than Monzo.
  • Yep. Well my gf decided to get a Monzo account and on the first two transfers she did it's gone tits up. So, a great start. :(
    DCFC79 wrote: »
    That post was from end of may, hamaaski has ressurrected a nearly 5 month old thread.
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms