Monzo refusing to help with chargeback
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Yes waiting on the ombudsman now:money:0
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Update
They've just closed my account because I made a complaint because they refused to help me with a charge back from what I assume now was a scam website.
Since my account got closed they have blocked my phone number. Great customer service hey. And before that I could be waiting 6 hours for a generic response on chat. (can't access chat anymore either)
What kind of bank closes an account rather than assisting customers.
Feel sorry for those people whose money monzo have taken. No idea how they're going to get their money back. I should be greatful my money isn't £1000s like others
Where's your proof that that's the reason they've closed your account?0 -
Yes waiting on the ombudsman now:money:
you may have to wait till the cows come home.
Financial Ombudsman Service (FOS) is notoriously slow, lack transparency (they say what is shared is up to them even if it's not commercially sensitive material), and their own complaints process is simply a firefighting act. i.e. if the adjudicator makes a mistake (they tend to make lots due to heavy workload) he/she will make something up, you can then complain to the manager, who will defend the actions of the adjudicator or simply brush them off saying I've warned him/her*, you then complain to the independent assessor who will defend and dismiss the claims outright.
If it's your first complaint to the FOS (they allocate senior adjudicators to first time complainants to keep their image) and because this seems like a straight-forward case of a chargeback request not being honoured, you may be okay.
If you want a proper process followed, legally constituted transparency, less exposure to firefighting and making thinks up as they go along, go through the Courts. Maybe contact someone like this**:
https://www.ellisjones.co.uk/blog/article/claims-against-banks-deadline
and seek advise. Of course, you can first try the ombudsman then if it doesn't bear fruition go through the Courts option, but be warned of the above implications. After a long delay at the ombudsman to close the case, with endless communications to and fro about the case, you may be just glad to put it to bed and not be up to taking it to the Courts, going through the same events/details for a second time.
* - before, you could then complain to a senior manager who will usually apologise and pay a small nominal compensation amount just so you’d go away. Now this step has been removed and the whole process streamlined, so you have to complain to the independent assessor who is a lawyer by profession. She invariably will try and ensure the rough edges of any wrongdoing by adjudicator or manager are smoothed over
** - Although, I do believe the small claims process has been simplified that even someone on the Clapham omnibus can bring an action. i.e. no need to go through lawyers.0 -
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Yup sounds like a lot of people aren't suitable customers for monzo. But taking the customers money seem like a suitable option for monzo. Shoddy0
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I didn't say Monzo have taken my money. But Monzo have taken a lot of other people's money. Monzo. Yes.0
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I didn't say Monzo have taken my money. But Monzo have taken a lot of other people's money. Monzo. Yes.
Monzo seem to have had a disproportionately high number of Suspicious Activity Reports and frozen accounts, but this is probably due to people thinking it might be easier to launder money through a FinTech than a traditional High Street Bank. They are finding out it isn't.
Unfortunately, if a bank believes the activity on any account is suspicious, they must notify the National Crime Agency and wait for instructions. They must also, by law, lie to you about what they are doing!
Although your issue with Monzo appears to be entirely different.0 -
Monzo seem to have had a disproportionately high number of Suspicious Activity Reports and frozen accounts, but this is probably due to people thinking it might be easier to launder money through a FinTech than a traditional High Street Bank. They are finding out it isn't.
Monzo may well have come under regulatory scutiny. Hence the tougher line. That's a lot of proceeds of illegal activity that needs legitimising.0 -
Or it may just be the perfectly poorly written law for monzo to hide behind and do whatever they like..
' we have lots of fraudsters, so we freeze lot of innocents peoples accounts' is no excuse. Obviously they're doing something wrong if they disproportionately attract fraudsters. Though as my issue highlights. Monzo are just unreliable and untrustworthy. So my belief is monzo are the ones acting inappropriately and hiding behind secrecy laws. The seem very good at blaming everyone but themselves.
I'd advise anyone to avoid monzo liek the plague. :money:0
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