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MONZO BANK LIMITED
Legal entity: MONZO BANK LIMITED
FCA register status: Authorised — the FCA’s own status for this firm reference, not our finding. See the FCA’s own record on the Financial Services Register.
Companies House 09446231, incorporated February 2015
2,448banking decisions
33.2%uphold rate
1,635not upheld
Beyond banking
The figures above cover this firm’s banking, credit and mortgage decisions only. The Ombudsman also decided complaints about it in other sectors, which behave differently and are kept separate rather than averaged in.
| Sector | Decisions | Uphold rate |
|---|---|---|
| Banking, credit and mortgages — shown above | 2,448 | 33.2% |
| Investments and pensions | 2 | — |
| Insurance (excluding PPI) | 1 | — |
What this firm loses on
| Issue | Decisions | Upheld | Uphold rate |
|---|---|---|---|
| APP scam refund refused | 1,284 | 504 | 39.3% |
| Account closed or refused | 431 | 59 | 13.7% |
| Complaint handling | 296 | 132 | 44.6% |
| Unauthorised transaction | 240 | 61 | 25.4% |
| Card dispute or chargeback | 198 | 49 | 24.7% |
| Credit file reporting | 195 | 60 | 30.8% |
| Support for vulnerable customers | 161 | 69 | 42.9% |
| Irresponsible lending | 132 | 42 | 31.8% |
| Funds blocked or frozen | 107 | 27 | 25.2% |
| Service failure | 78 | 48 | 61.5% |
| Charges and fees | 42 | 23 | 54.8% |
| Payment delayed or failed | 40 | 10 | 25.0% |
| Identity checks and access | 39 | 11 | 28.2% |
| Treatment in financial difficulty | 32 | 14 | 43.8% |
| Data and privacy | 30 | 10 | 33.3% |
The official record
What the firm itself reports to the regulator, scoped to banking and credit complaints only. This is a different measure from the decisions above — it covers all complaints a firm received, not only those that reached an ombudsman. Firms report on periods set by the regulator, which are not always the calendar half-year the file was published under (shown below where they differ). No period-over-period change is calculated here — these are the reported figures only. See the scorecard for all three measures side by side.
| Source | Period | Upheld | Opened | Closed | New cases |
|---|---|---|---|---|---|
| FCA | 2025-H2 2025-04-01 to 2025-09-30 | 29.9% | 49,247 | 45,276 | — |
| FCA | 2025-H1 2024-10-01 to 2025-03-31 | 30.1% | 34,946 | 37,486 | — |
| FCA | 2024-H2 2024-04-01 to 2024-09-30 | 32.3% | 50,586 | 56,058 | — |
| FCA | 2024-H1 2023-10-01 to 2024-03-31 | 33.0% | 42,016 | 39,742 | — |
| FCA | 2023-H2 2023-03-01 to 2023-08-31 | 40.2% | 28,029 | 24,070 | — |
| FCA | 2023-H1 2022-09-01 to 2023-02-28 | 32.6% | 24,390 | 23,286 | — |
| FCA | 2022-H2 2022-03-01 to 2022-08-31 | 21.1% | 27,311 | 27,273 | — |
| FCA | 2022-H1 2021-09-01 to 2022-02-28 | 29.0% | 35,480 | 36,947 | — |
| FOS | 2025-H2 | 26.0% | — | — | 5,304 |
| FOS | 2025-H1 | 34.8% | — | — | 2,996 |
| FOS | 2024-H2 | 39.0% | — | — | 3,393 |
| FOS | 2024-H1 | 54.9% | — | — | 2,839 |
| FOS | 2023-H2 | 33.7% | — | — | 1,971 |
| FOS | 2023-H1 | 37.7% | — | — | 1,110 |
| FOS | 2022-H2 | 27.9% | — | — | 816 |
| FOS | 2022-H1 | 29.2% | — | — | 838 |
What the regulator did
FCA final notices naming this firm. This is a separate record from the Ombudsman decisions above: the Ombudsman resolves individual complaints, the FCA penalises the firm for rule breaches.
| Date | Penalty | Breach |
|---|---|---|
| 8 Jul 2025 | £21,091,300 | This Final Notice refers to breaches of PRIN 3 and s.55L of FSMA related to conduct in the retail banks sector. We imposed a financial penalty. |
Context
Current account switching
Net customers gained or lost through the switching service.
| Quarter | Gains | Losses | Net |
|---|---|---|---|
| Q1-2026 | 32,066 | 10,172 | +21,894 |
| Q4-2025 | 20,483 | 11,409 | +9,074 |
| Q2-2025 | 15,289 | 7,043 | +8,246 |
| Q1-2025 | 15,515 | 6,665 | +8,850 |
Decisions are attributed to a firm only where the decision text names it unambiguously. Where a name could refer to more than one firm, the decision is left unattributed rather than guessed, so these counts are a floor, not a total. Method.