Firms › MONZO BANK LIMITED ›

MONZO BANK LIMITED

Financial Ombudsman decision DRN-3431449 Not upheld

The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.

What this decision was about

Funds blocked or frozen, Service failure

In the Ombudsman’s words

Monzo Bank said, although Mr C clarified he was confident with the payment and knew who he was paying, their Disputes Team wanted to investigate further. They said the reason for this is that they have found that some fraudsters ask customers to lie about their intentions in making payments so Monzo Bank feel it is beneficial to probe further. Monzo Bank said they had followed their regulatory obligations but appreciate they’ve caused Mr C inconvenience and he has since decided to close his account. Monzo Bank apologised and acknowledged that Mr C was still unable to make the payment even after Monzo Bank told him his account was no longer frozen.Funds blocked or frozen

Monzo Bank have admitted they got things wrong with the length of time Mr C’s account was frozen and Mr C still being unable to make a payment even after Monzo Bank told him his account was no longer frozen.Service failure

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-3431449.pdf on financial-ombudsman.org.uk.

The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.