MONZO BANK LIMITED
Financial Ombudsman decision DRN-4281779 Upheld
Upheldoutcome, as published by the Ombudsman
—no sum stated
Thu Sep 21deadline 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
Treatment in financial difficulty, Charges and fees
In the Ombudsman’s words
Monzo should have stopped providing the overdraft on the same terms and treated Miss M with forbearance rather than charge even more interest, fees and charges on the overdraft.Treatment in financial difficulty
Monzo acted unfairly when it continued charging overdraft interest and associated fees on Miss M’s account from 9 January 2020.Charges and fees
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4281779.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.