Monzo Bank getting a kicking on 'Watchdog'

Sammurp1990

Born again my understanding is that's one of the biggest faults with monzo. The staff are asking the customers nothing at all and just holding the money. I remember a few years back maybe 2012ish I deposited a few k cash in Natwest and the staff quizzed me about its origins and filled out a form Regards what I said. Knowing what I know now I assume that was a SAR or an internal natwest document that may lead to a SAR if an internal team deem it so. Either way they asked questions, got the answers and my account was never frozen.



Monzo,from peoples stories don't seem to be attempting to find a resolution.

brianposter

jonnygee2 wrote: »

If there was a problem with the way Monzo dealt with financial crime the regulators would be dealing with it.

The fact there is an indipendent regulator that has full access to all of the information and is apperantly satisfied with the way they act is all we need to know.

The watchdog program and posters here don't have any access to any of the relevant information on why these decisions were made and are therefore pretty meaningless.

Was there not a debate in parliament last year because MPs were seriously concerned about the competence of the regulator ?