MONZO BANK LIMITED
Financial Ombudsman decision DRN-4823837 Not upheld
Not upheldoutcome, as published by the Ombudsman
£800redress stated in the decision
Fri Jul 26deadline 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
Mr C complained that Monzo Bank Ltd (“Monzo”) irresponsibly granted him a personal loan in July 2023 that he couldn’t afford to repay.Irresponsible lending
Finally, Mr C has said that he is now in financial difficulties, so I would encourage him to contact Monzo, as it outlined in its final response letter to him, if he has not done so already - businesses are required to treat customers in difficulties with forbearance and due consideration.Treatment in financial difficulty
Rules cited
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4823837.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.