Monzo Bank Disgrace
paragon909
Posts: 1,498 Forumite
Monzo must be the worst so called "bank" in the UK. Every other normal bank that I have had issues with ATM withdrawals they dispute and refund. Oh no Monzo refuse to refund me saying it can take 3 months to investigate and give me £30 to shut up. Even though it's my ESA money. Idiots.
Think I'll need to find a normal bank and not these stupid prepaid or digital only banking. People demonise normal banks but at least they have more powers to refund you and help rather than letting you suffer. And the Monzo staff reply with funny faces, How patronising!
Think I'll need to find a normal bank and not these stupid prepaid or digital only banking. People demonise normal banks but at least they have more powers to refund you and help rather than letting you suffer. And the Monzo staff reply with funny faces, How patronising!
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Comments
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Apart from your attitude, what are the issues affecting you?Evolution, not revolution0
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paragon909 wrote: »Monzo must be the worst so called "bank" in the UK. Every other normal bank that I have had issues with ATM withdrawals they dispute and refund. Oh no Monzo refuse to refund me saying it can take 3 months to investigate and give me £30 to shut up. Even though it's my ESA money. Idiots.
Think I'll need to find a normal bank and not these stupid prepaid or digital only banking. People demonise normal banks but at least they have more powers to refund you and help rather than letting you suffer. And the Monzo staff reply with funny faces, How patronising!
Wrong forum, PVW would be more appropriate.
Did you complain and go to the ombudsman ?0 -
This sounds as if you have substantial experience with multiple banks, and with ATM withdrawal issues. What sort of issues do you have with ATM withdrawals? Which banks solved them to your satisfaction?paragon909 wrote: »Every other normal bank that I have had issues with ATM withdrawals they dispute and refund.
What exactly did happen, or not happen, with Monzo? Have you raised a formal complaint with them? Have you had a final response from them about your complaint? Have you taken your complaint to the FOS?0 -
Most people will only need to raise ATM related chargebacks extremely infrequently. ATM errors happen, but they are rare.
Yet you seem intimately familiar with how several different banks handle ATM chargeback claims? Sorry but this seems fishy to me.
Monzo, like all banks, will refuse to reimburse chargeback claims which look suspicious. They have obviously decided that yours is suspicious enough - and reading your post it is diffcult to conclude they have made the wrong decision.Did you complain and go to the ombudsman ?
There is no right to be refunded instantly with a chargeback claim - this is at the bank's discretion. An ombudsman complaint would just waste everyone's time.0 -
I've had 1 ATM issue in 35 years and it wasn't handled particularly well by the bank who just passed it to the contractor who fills up / deals with the cash machine. A few days later the shortage (£20 I think) was just put into my account with no apology and no explanation.
How many have you had and how are they normally dealt with?0 -
I've made 4,278 ATM withdrawals since my records began (32 years ago!) and zero issues in that time.I’m a Forum Ambassador and I support the Forum Team on the Credit Cards and Budgeting & Bank Accounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
Apologies for the off-topic reply, but this is really impressive, and baffling at the same time! I'm genuinely curious as to how you've maintained such detailed records from the years before online banking?sausage_time wrote: »I've made 4,278 ATM withdrawals since my records began (32 years ago!)0 -
I have written and used various home-grown programs over the years to log and categorise transactions, apply regular payments and track net worth.I’m a Forum Ambassador and I support the Forum Team on the Credit Cards and Budgeting & Bank Accounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
I've experienced 2 ATM issues one with TSB and one with MONZO.
Okay, so your experience is with one other bank. So when you said 'every other bank', you were referring just to one. I think grammatically the term you were looking was 'the other bank I have had an issue with'.
The powers of Monzo, TSB, and any other bank connected to the Visa or Mastercard schemes are the same. Chargebacks take about 3 months. At their discretion banks may advance that money to you while they wait for the chargeback to come through, but they have absolutely no obligation to do this for a debit card.
Monzo have acted as any bank would act. I know for a fact that high street banks often make the same decision. People in financial difficulty often use ATM withdrawal chargebacks to borrow money which they cannot afford to repay, leaving banks with an expensive debt recovery process, therefore banks sometimes refuse to advance the refund.FOS Nope, Again it still takes 8 weeks, As for what issues are effecting me, Umm. Let me think. An ATM Machine doesn't give me my ESA money, Yes i've contacted DWP and they can't do anything. Monzo Can't do anything. Who can.
No one unfortunately. There is no solution other than to wait.0 -
I'm in awe. Wish I'd done something similar.sausage_time wrote: »I have written and used various home-grown programs over the years to log and categorise transactions, apply regular payments and track net worth.0
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