Monzo Account

chasingsolvency · 25 September 2018 at 10:46PM

Hi all, does anyone know if I would be able to keep my Monzo account once declared bankrupt? I don’t have an overdraft on it but they do offer that facility. I have a basic Nationwide account as a back up option.

Years_of_debt · 26 September 2018 at 7:46AM

If they offer any credit facility it will likely be closed down.
I would switch to basic Nationwide now just to be on the safe side.

chasingsolvency · 26 September 2018 at 9:47AM

Thanks, that was my line of thinking but I’ve found a blog dated from 2017 where a guy managed to open one two months into his BR...hopefully I can keep it, it’s a fantastic tool for budgeting.

Years_of_debt · 26 September 2018 at 9:53AM

To be honest aslong as you have a basic account with Nationwide keep using Monzo if it gets closed down oh well. If it doesn’t it’s a bonus.

ny152 · 26 September 2018 at 5:22PM

I have a Trust Deed and opened a Monzo Account with no problem (didn't apply for the overdraft).
As you say, a great tool for budgeting, especially when you use 'pots'.

ramtops · 27 September 2018 at 8:55AM

My husband opened a Monzo account as a backup six weeks before bankruptcy. They allowed him to keep it, and sent him a really nice note, wishing him luck.

I bank with Monzo - absolutely love them.

dave1968 · 30 September 2018 at 2:46AM

Monzo are brilliant used them for 5 months now and most of my banking now done through them. The pots are great to separate money and you can see breakdown of what you spend into different categories. No fiddly online banking logins either.

Monzo Account

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