Monzo fraud - they refuse to do anything!

Nervalslobster

I’m asking this on behalf of my daughter. 

She had her phone stolen at the weekend and despite it being locked with passcode and face recognition the thieves have managed to access it, and her accounts. They have also hacked her email. 

Santander (her main account) and Revolut have been very helpful and dealt with the fraudulent transactions very quickly, and her accounts with them are ok. 

Monzo, however, have been a nightmare. Whoever accessed the account has emptied it and taken it up to £2k overdrawn. My daughter has phoned them four times now and each time is told there is no trace of the account, it must have been closed by the fraudsters (although via her card at the cash machine she can see a debit balance of £2k), and that a “specialist” will call back. It’s now three days later and no one has called back. She really needs the money that was in that account! 

Does anyone have any experience of dealing with Monzo, and can give any advice? It’s currently like she’s banging her head against a brick wall!

Shakin_Steve

Has she tried withdrawing cash from the ATM?

Nervalslobster

No, because it’s now right up to the overdraft limit. She’s desperately worried about getting her money back. She’s only just started a new job and money is tight for her but they won’t even speak to her. 

eddddy

I guess there's the possibility that the bank think that your daughter is fibbing and/or she is involved in the fraud - e.g. they suspect that she has withdrawn the cash herself, or she voluntarily gave her phone and passcode to somebody else so they could get the money.

So they are stalling your daughter while they do some investigation.

(The bank might be suspicious for the reasons you say - the phone was supposed to be secured by passcode and facial recognition. Just as a comment from somebody who doesn't know anything about anyone involved - are you sure that your daughter hasn't changed some details when telling you what has happened?)

penners324

She must be giving Monzo some wrong details.

She can email them as well

Lions_89

They have observed her and noted the passcode. Then the phone is stolen and they know the code to get into apps. Has she signed into the account in another phone?
have you had the SIM card blocked?
How do you know the email is hacked?

Nervalslobster

The sim is blocked and the theft has been reported to the police. Her email passwords have been changed and whoever tried to get into her Revolut had changed the language to Czech. She has told me everything she knows. She thinks her pocket was picked. 

km1500

does she know the sort code and account no?

grumbler

Nervalslobster said:

She had her phone stolen at the weekend and despite it being locked with passcode and face recognition the thieves have managed to access it, and her accounts. They have also hacked her email. 

Santander (her main account) and Revolut ... Monzo...

OOT, but it always surprises me how vigorously all banks persuade/force all customers to install and use their mobile apps.

That said, I don't believe that it's that easy to 'hack' all accounts if the phone really was locked when it was picked from her pocket. I understand why Monzo aren't very keen on refunding without any investigation.

Nervalslobster

The thing is, they aren’t investigating! No one has rung her back and she has now rung them seven times attempting to sort this. They hung up on her twice. She is at her wits end as she desperately needs the money that was in the account. 

Hoenir

Nervalslobster said:

The thing is, they aren’t investigating! No one has rung her back and she has now rung them seven times attempting to sort this. They hung up on her twice. She is at her wits end as she desperately needs the money that was in the account. 

They'll be back in contact once they've investigated the matter fully. Constantly ringing customer services isn't going to accelerate the matter.