MONZO BANK LIMITED
Financial Ombudsman decision DRN-4329533 Upheld
Upheldoutcome, as published by the Ombudsman
£150redress stated in the decision
Fri Sep 29deadline 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, Support for vulnerable customers
In the Ombudsman’s words
failed to make it clear that entering a repayment plan may affect his ability to increase his overdraft limitIrresponsible lending
Mr T found himself in a vulnerable position being no longer able to increase his overdraft limit online as he had done in the past and being unable to pay essential billsSupport for vulnerable customers
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4329533.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.