Monzo - We Are Closing Your Bank Account

born_again

If you get 60 days notice.
You will not be getting a CIFAS marker. They are reserved for immediate closures where someone has been naughty & been caught.

Costacat55

To be clear, I did have 3 months notice in my case to close my bank account (they gave me until year end at that time) and I did have a CIFAS marker which turned out to be a temporary authentication mistake someone forgot to remove. CIFAS markers aren't always about fraud or being naughty and being caught. They have markers for all sorts of things including protective markers and other markers not directly related to fraud as was in my case. It will not be clear until a report is obtained to rule it out. The report is free and isn't going to cost the OP anything or do any harm here.

Krdrae

Sorry you are going through this. I have had a date of closure for my account to be closed. When I asked why they said they don't need to tell me and it will close on x date. 
I think it's due to the disputes as I have had a few disputes regarding subscriptions. Monzo will continue to pay even if you have manually pain or paid in advance which leads to duplications. 
My notice of closure came shortly after I disputed a transaction, so I can only assume they close accounts after some disputes. 

I'd suggest trying to open an account with a building society as they are quite good at little credit checks and poor credit, not suggesting you have poor credit but I know you mentioned being worried about markers. Wishing you the best of luck.

Best wishes 

X

Olenna

Krdrae said:

Sorry you are going through this. I have had a date of closure for my account to be closed. When I asked why they said they don't need to tell me and it will close on x date. 
I think it's due to the disputes as I have had a few disputes regarding subscriptions. Monzo will continue to pay even if you have manually pain or paid in advance which leads to duplications. 
My notice of closure came shortly after I disputed a transaction, so I can only assume they close accounts after some disputes. 

I'd suggest trying to open an account with a building society as they are quite good at little credit checks and poor credit, not suggesting you have poor credit but I know you mentioned being worried about markers. Wishing you the best of luck.

Best wishes 

X

What are little credit checks? 

If you mean ID checks only then a Co-op Cashminder or a Santander basic account are probably a better option than Building Societies. That said all will still close if you have fraud markers. 

nottsphil

ChirpyChicken said:

Ignore the above post irrelevant for this.

Costacat's post was packed with useful information, entirely relevant to forced account closures. My advice to people would be to ignore your post.

sbutton

This is fricking ridiculous. They might be well within their rights to do this, but they have lost at least one customer by doing it (that's me*). I've been using them for years for smallish amounts, but I still get my main salary paid into one of the bigger banks. Was thinking about going Full Monzo, but after reading this there is absolutely NO WAY I would dream of relying on them this way. I just don't need the hassle. 

*Not lost completely, but I won't be putting my salary into Monzo any time soon. 

Desmond_Hume

So they’ve not lost a customer then…?

Uriziel

I don't understand why they do not simply remove your overdraft if it is really due to always being in the negative. Have you had any money transfers coming in excluding your salary? Perhaps their automated system has simply flagged your account as suspicious and instead of risking being fined they'd rather just let you go?
I also don't know why you are using overdraft instead of a credit card. Perhaps you could let them know that you apologize for always being in the negative and ask if they will stop the closure if you remove the overdraft. Maybe a person will see it and oblige.

WillPS

On a forum where the specialist subject seems to be getting the absolute maximum from financial institutions  - it seems absurd to suggest consumers should behave in a manner which preserves their bottom line.

Every complainant has a right to refer their complaint to the FOS. If the OP wishes for an independent person to review their complaint and double check the bank has behaved fairly, then that's up to them. It is their right to such a review.

Whether their case is likely to succeed or not is immaterial, IMHO. Not wanting to raise hopes in this department either - but FWIW it would be very far from the first time the great and good forumites decided in advance a complainant had no merit only for a complaint to end up being uphold. (I have been one such complainant in the past).