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MONZO BANK LIMITED

Financial Ombudsman decision DRN-6405914 Upheld

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

APP scam refund refused, Complaint handling

In the Ombudsman’s words

Mr S complains that Monzo Bank Ltd (‘Monzo’) won’t reimburse the funds he lost when he says he fell victim to a scam.APP scam refund refused

I also can’t criticise Monzo for not loaning Mr S funds when he didn’t meet its eligibility criteria. To do so would have been irresponsible. Instead, Monzo correctly signposted Mr S. Overall, I think a compensation award of £200 fairly reflects the errors Monzo made and the impact they had on Mr S at a time when he was vulnerable.Complaint handling

Rules cited

CRM Code (APP scam reimbursement)

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-6405914.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.