My understanding was that UK banks have to give you a grace period to move your money to another bank of at least 30 days. Monzo has closed its Monzo Plus packaged account to new customers just four months after it was launched. monzo closed account refund - helpers.sg Information about our Personal Current Account Services, Bring your account balance to 0 (this includes withdrawing the balance of your Pots), Tap on your profile icon (if you cant see that, swipe down on your card). If you'd still like to proceed with closing your account please complete the below steps: Bring your account balance to 0 (this includes withdrawing the balance of your Pots) Tap on your profile icon (if you can't see that, swipe down on your card) Tap on the settings cog Tap "Close account" to get started Was this article helpful? Thats kinda worrying if what you say is true (I dont doubt that it is) but as a average user with no shadyness in my life like 99.9% of account holders, we could all be culled off for no apparent reason. Sometimes blocking or closing accounts is one of the ways we do this. Closing accounts can help fight financial crime Financial crime is a serious problem across society. If you used your account for anything cryptocurrency related, that might be why. Otherwise criminals would quickly figure out how to get around them! Why we sometimes freeze, block or close Monzo accounts They also have the same mental health impact as our spouses and partners | 11 comentrios no LinkedIn So what do I do? "I thought I was the only one," he explains. Monzo closes premium packaged account to new customers Ive asked Monzo to take a look at this via chat, but were at 9 days now and Im still yet to get a response from a specialist. "The prevention of financial crime is an issue that affects the entire. Corporate_Drone31 2 yr. ago. I cancelled a amazon flex order and money was refunded instantly to my account and the flex plan closed automatically with "paid off " status , and the 1st payment I made was transferred back to my current account automatically , Good to know, thank you (hadnt spotted your post as I just looked at thread titles and not used to this system ). You can use your virtual card, or you can pay with your Monzo debit card and then move the transaction to Flex up to two weeks after you made the payment. I was wondering how this will work with the Flex experience - will that purchase be paid off? Monzo under investigation by FCA over anti-money laundering rules Unfortunately were all customers here so wont be able to help; but if its not an immediate closure its likely that you just no longer fit the customer profile theyre looking for for one reason or another. We can close your account by giving you at least two months notice. so what other reasons could it be? Unfortunately none of us here can say what the reason might be, as were not privy to Monzos internal discussions. The stories on it may alarm some of. I still live in the UK (havent left), lived here all my life so have a passport, no legal troubles etc. Monzo says 'no' to refund as thousands are lost to cold-callers They should be able to provide evidence of what card it was refunded to, its probably the one you paid on, but Monzo wont get the money if the account is closed, it will bounce back but this can take quite a bit of time. I had my bank account closed since Late October, I was awaiting a refund from Adidas For around 800. Privacy Policy. So obviously it cant be a security risk or a fraud risk issue as they still are allowing me to use their service for 2 months, right? If you paid with your debit card and then moved to Flex afterwards, a refund will come back to your current account. We may close your account or stop you using your card and app immediately if we believe youve: put us in a position where we might break the law, broken the law or attempted to break the law. If that was the case they would not have two months they would be cut off immediately. 6 yo Gelding. We don't know what and we'll probably never know. Why have I received an email about a refund from my closed account? Bet 10* & Get 30* in Free Bets. But blocking or closing accounts is something all banks have to do sometimes, to meet their legal and regulatory obligations, in line with their terms and conditions, and to help fight against financial crime. It's all the same: I'm sorry for the inconvenience, we don't have a time frame, we can't tell you why. I've told them I have a baby. Only like you said, if it was fraud related. "But for others, it's been detrimental to their daily lives.. Yes, true, but the rest of my post still applies. They're saying they can only refund to the original card Any idea what I'm supposed to do here? What reasons would they have though?? monzo closed account refund However, if you used the Current Account Switching Service out of Monzo it'll find it's way to your new account. Getting your car rental or hotel deposit refund. Its funny you say that because Ive heard back from chat now and the response pretty much amounted to lol, sort it out yourself mate. If the account activity does seem suspicious, we have to report it to the National Crime Agency, and wait for their response before closing the account. If the merchant confirms that they've sent the refund and your refund still hasn't arrived after 14 days, please get in touch with: We won't be able to help unless you have these and 14 days have passed . Whether Hopkins and other Monzo users like her receive their money back in full, the trust between them and their bank is broken. To create a new dispute request, tap on a transaction in your app, and then scroll to the bottom where you'll see in red text 'Something wrong? Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. It means youre effectively given a cash advance in your main balance that you can either pay back monthly or immediately. Recently the "Specialist" support team contacted me saying I have been found to have commited fraud through LocalBitcoins and other cryptocurrency platforms (which is completely untrue seeing as I have stolen no one's money and I only use LBC). Monzo Bank Limited is a company registered in England and Wales (No. Monzo Bank Limited is a company registered in England and Wales (No. In this case, where a customer has been given two months before the account being closing, it means that theyve done nothing wrong by law, but Monzo have simply (for whatever reason) decided they no longer want them as a customer. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Monzo closed my account but I have a loan with them : r/monzo - reddit Hoping it was just a technical error, he tried to transfer the funds to a different bank account, but found that he was unable to. Usually a refund cant be sent to where a person requests it, as some fraudsters do use refunds as a means of cleaning fundsbut if you can prove the account is closed you may be able to get them to refund it elsewhere, should the money bounce back. Why have I received an email about a refund from my closed account? Thats why like many banks, we constantly evolve our approach to financial crime and the risks that come with it. I just didn't know what to do., When Hopkins contacted Monzo again, a customer service employee asked her if she had friends or family who could help: I said no, and I shouldn't need to [borrow money] because I have my own money., Hopkins received an email response from Monzo on the same day that VICE approached the company for comment. Sent messages to them but they seem pretty slow at the moment. Some users are accusing Monzo of freezing or closing their accounts for no reason, claiming to have had to wait to get their money back or even not receiving it at all. ! Monzo have flagged his account for something. 'Monzo stole our money': Bank faces fury from people saying accounts The call just cuts off after 10 minutes! if someone commits fraud theyd shut the bank account down immediately though (or so id assume as it would be a legal risk). monzo closed account refund Monzo is allergic to cryptocurrency fraud risk, so they will sometimes close the account for that. We identify a risky customer. I would have thought having it set like this would open the system to abuse somehow. You can use that refund to pay-off the Flex instalment plan by tapping pay off extra - or keep it in your current account and just pay off the remaining instalments on your Flex payment date. very strange situation here. After contacting Monzo, he learned that his card had been frozen for no apparent reason, and without warning. My Monzo account was blocked for no reason given, I gave alternative details fro my funds to be transferred but ~I received a refund into the Monzo account a month or two later. Only 29 percent of these complaints were resolved in the consumers favour. It might be a mistake on Monzos part, youd like to think theres human intervention here. To protect peoples money and stop criminals using Monzo for illegal activities, well block accounts when we suspect this is happening. Payment refund - Help - Monzo Community Get help'. For legal reasons they won't be able to discuss it with you whilst the case is ongoing. They havent just randomly decided to close his account. Quick question. Nothing dodgy has happened in my life at all - and certainly not in the last few months - so it doesnt make any sense to me. Taints my faith in them somewhat. Managers have more impact on our mental health than doctors and therapists! However, it's not all rave reviews. Some customers posting on it report having up to 30,000 stuck in frozen business accounts and say they. Monzo Bank Limited is a company registered in England and Wales (No. If it's rejected the merchant should inform you and then likely ask for new details. Mr Fisher was angry that. How do I get it back? Account closed but I need a refund from an airline : r/monzo - reddit Announcing the move on its community forum yesterday, Monzo said 'things just haven't gone the way they should have'. As we mentioned, explaining some of the reasons we close accounts could give fraudsters clues that might help them get around our security controls. I dont understand your point? About a day or two later, I got a message from Monzo saying I had to source alternative banking. Harford's Monzo account had been closed. It was very frustrating., Charley Hopkins, 19, also says that she had her Monzo account frozen without warning. Powered by Discourse, best viewed with JavaScript enabled, Refund into closed Monzo account. When VICE approached Monzo for comment, a spokesperson said that the company would not be able to comment on the closing of users accounts without specific details on individual cases. It was here that Harford found the advice he needed to get his money back. 'If criminals get access your online banking via your Sim card, they can charge your details, set up new payments and even open up another account or take out a loan,' Steve told us. Have you had a change of circumstances? Troubleshooting declined contactless card payment, Card payment declined but you've still been charged, Information about our Personal Current Account Services, Proof of the original receipt (screenshot or photo of paper receipt), Proof you spoke to the merchant (screenshot of the email you sent them), Optional: proof of cancellation (screenshot if you tried to cancel the order). Refund into closed Monzo account. (Monzo Closed Account Without Monzo Premium is for customers aged between 18 and 69 years old and comes at a monthly cost of 15 for a minimum subscription of 6 months. Monzo Bank Ltd is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. If a fraud closure is immediate then its clearly something less serious but also something Monzo dont want to be a part of. We cant spell out every reason why we might block or close an account, or explain all the ways we spot fraud. We know this can be very frustrating, and were not being deliberately difficult. (Monzo Closed Account Without Explanation). Yeah i did think that. However, when he got to a cashpoint in north London, his Monzo card was declined. gold coast shark attack video; giant schnauzer service dog for sale However today i received a message saying the account would be closed in 2 months. That blog link doesnt apply to this customer, it only applies to those who have had their accounts closed immediately. Finding out your bank has blocked or closed your account can be stressful and frustrating. monzo closed account refundplains, plateaus, and mountains worksheets. If you paid with the virtual card, the refund might come into your current account, but more often it will directly go towards paying off the Flex instalment plan its connected to. Im not in a sticky situation either way, but just keen to know how this side of it works before I use it again - Ive checked Help section and googled this, but come up with nothing so far. It's probably easier for Monzo to simply reject the refund. Sign up, deposit between 5* and 10* to your account and bet365 will give you three times that value in Free Bets when you place qualifying bets to the same value and they are settled.
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