MONZO BANK LIMITED
Financial Ombudsman decision DRN-6345831 Upheld
Upheldoutcome, as published by the Ombudsman
£500redress stated in the decision
Wed Jun 10deadline 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
Charges and fees, Support for vulnerable customers
In the Ombudsman’s words
Monzo Bank Ltd should also refund all banking fees and overdraft charges incurred since 18 July 2024, up until the refund is paid in full.Charges and fees
Monzo did accept it should have used previous information about Mr H’s compulsive gambling to monitor his spending between July and August 2024 and should have flagged this to its Vulnerable Customer Team.Support for vulnerable customers
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-6345831.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.