MONZO BANK LIMITED
Financial Ombudsman decision DRN-5366738 Upheld
Upheldoutcome, as published by the Ombudsman
£10,000redress stated in the decision
Mon Apr 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
Irresponsible lending, Support for vulnerable customers
In the Ombudsman’s words
Mr C has complained that Monzo Bank Ltd acted irresponsibly when provided him with a £10,000 loan in March 2024.Irresponsible lending
He believes the bank had sufficient information on file to know that he was a vulnerable consumer with a compulsive spending problem and that giving him access to so much credit would result in him experiencing harm.Support for vulnerable customers
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5366738.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.