Monzo apologises for bank transfer problems - MSE News

Former_MSE_Callum

App-based bank Monzo is investigating a problem that is delaying bank transfers, or causing them to fail...

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'Monzo apologises for bank transfer problems'

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BrownTrout

Had a transfer in which took about 3 hours to receive

20SmthngSver

Joy of banking solely on an app!

hamasaki

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.

eskbanker

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....

[Deleted User]

20SmthngSver wrote: »

Joy of banking solely on an app!

How is that relevant?

18cc

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

hamasaki

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....

DCFC79

!!! wrote: »

How is that relevant?

That post was from end of may, hamaaski has ressurrected a nearly 5 month old thread.

DCFC79

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.

hamasaki

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.