MONZO BANK LIMITED
Financial Ombudsman decision DRN-6300515 Not upheld
Not upheldoutcome, as published by the Ombudsman
—no sum stated
Thu Jun 04deadline 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
Account closed or refused, Irresponsible lending
In the Ombudsman’s words
Mr C also complained about his account closing after it defaulted.Account closed or refused
Mr C complains that Monzo Bank Limited (“Monzo”) acted irresponsibly when it granted him an overdraft limit of £500 because had it conducted proportionate checks it would have seen it wasn’t affordable.Irresponsible lending
Rules cited
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-6300515.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.