We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Monzo Bank getting a kicking on 'Watchdog'

Options
ICan'tStandIt
ICan'tStandIt Posts: 455 Forumite
edited 17 October 2019 at 8:14PM in Budgeting & bank accounts
Blimey!

They sound an absolute shambles!

I'm glad I bank with a bank that still (just about) as a High Street presence.

I do think that the hashtag #WhatsGoingOnzoMonzo from the daft presenter on 'Watchdog' is rather dismissive of something pretty serious.
«13456710

Comments

  • 18cc
    18cc Posts: 2,120 Forumite
    Sigh, not again. I have absolutely no problem with monzo they are an excellent bank.
  • 18cc wrote: »
    Sigh, not again. I have absolutely no problem with monzo they are an excellent bank.

    I'm sure they are for many, but they are hiding behind this wall of silence rather than dealing with things head on.

    It's fine to close an account and not provide specific information, banks have that right, but it's not fine to hang onto people's money to the point where people have to think about using a food bank.
  • born_again
    born_again Posts: 20,377 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    It's fine to close an account and not provide specific information, banks have that right, but it's not fine to hang onto people's money to the point where people have to think about using a food bank.

    What if the funds are believed to be the proceeds of crime. Then the police will request the account frozen.
    Life in the slow lane
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    I'm sure they are for many, but they are hiding behind this wall of silence rather than dealing with things head on.
    Banks are legally prohibited from giving any information on ongoing investigations.
  • System
    System Posts: 178,346 Community Admin
    10,000 Posts Photogenic Name Dropper
    Hahaha! I saw this post and before I looked at it I just knew there would be responses from certain members supporting Monzo. I just knew it! Looking down their long noses at customers with problems. Can't wait to read more!
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • born_again wrote: »
    What if the funds are believed to be the proceeds of crime. Then the police will request the account frozen.

    I understand all that, but they should be a bit easier to deal with rather than suggesting food banks and borrowing money from friends and family.

    One customer apparently had her number blocked by Monzo so she couldn't even call them.

    Seems they are just washing their hands of the whole situation whilst hanging onto customers' money.
  • boo_star
    boo_star Posts: 3,202 Forumite
    Part of the Furniture 1,000 Posts
    scgf wrote: »
    Hahaha! I saw this post and before I looked at it I just knew there would be responses from certain members supporting Monzo. I just knew it! Looking down their long noses at customers with problems. Can't wait to read more!

    Probably because they have at least some understanding of how things need to work behind the scenes because of, well, the law.

    Ironically your response is just as predictable as the ones from "certain members."
  • scgf wrote: »
    Hahaha! I saw this post and before I looked at it I just knew there would be responses from certain members supporting Monzo. I just knew it! Looking down their long noses at customers with problems. Can't wait to read more!
    I have a long nose. And crooked too. A bit like a concorde.



    Interestingly Monzo do actually say the following:
    If we decide an account looks suspicious enough, we’ll freeze it and report this to the National Crime Agency (NCA)

    Once we do this, the situation is out of our hands. We’re not allowed to do anything more until we hear back from them.

    We’re not allowed to say why we’ve blocked an account

    We know this can be very frustrating. But we’re not being deliberately difficult, it’s just the way the law works.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • brianposter
    brianposter Posts: 1,523 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    colsten wrote: »
    Banks are legally prohibited from giving any information on ongoing investigations.
    Maybe they should be visibly trying to get the law changed, as it seems to be clear that their interpretation of this particular part of the law does not function sensibly.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.