MONZO BANK LIMITED
Financial Ombudsman decision DRN-4036657 Upheld
Upheldoutcome, as published by the Ombudsman
—no sum stated
Mon May 22deadline to accept (not the decision date)
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
Irresponsible lending, Treatment in financial difficulty
In the Ombudsman’s words
Monzo shouldn’t have increased Mr M’s overdraft limit as his overdraft had already become unsustainable for himIrresponsible lending
Monzo should have stopped providing the overdraft on the same terms and treated Mr M with forbearanceTreatment in financial difficulty
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4036657.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.