Monzo Reviews

Name: Monzo
Rating: 1.63

1.6 Rating 213 Reviews

15 %

of reviewers recommend Monzo

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1.6

Based on 213 reviews

Shipping & Delivery
Delivery Methods	Courier
Customer Service
Communication Channels	Live Chat, Email, Telephone
Queries Resolved In	Over A Week
Customer Service	1.3 out of 5

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Anonymous

Anonymous // 01/01/2019

Filter: Rated 1 None 5 Stars 4 Stars 3 Stars 2 Stars 1 Stars Helpful

“MONZO is a large Asian criminal organisation operating in the UK, claiming to be an institution that deals in money and its substitutes and claims to provide other money-related services, while restricting their clients in accessing their accounts and withholding their finances, for their own criminal activities.”

Helpful Report

Posted 7 months ago

“The Monzo messaging chat support is absolutely diabolical /really really cr*p... and you can't telephone. Go to a proper bank with proper customer support !”

Helpful Report

Posted 7 months ago

“Set up a new business and was into my 3rd month of trading, received a large payment from a client and they closed my account without warning or explanation, meaning i could not pay staff, my bills or direct debits, impossible to speak to a human being, can only chat via the app which is a robotic reply, kept my money for over 2 months, had to get the FCA involved to get my money back, worst experience of my life! so if you need a bank that will destroy your life and your business then choose Monzo”

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Posted 8 months ago

“Is unbelievable how one bank like Monzo can play with my money , the worst experience what I could have with the bank , stay far from Monzo. V mitu”

Helpful Report

Posted 8 months ago

“Monzo has a lot to offer in terms of a quality app, innovative products, and ability to respond rapidly to customer demand. However their service quality is lacking, without the history of an established bank they quickly fall short in how they handle customers finances and their products whilst advertised and marketed well, are not good financial decisions and in some cases such as Flex can harm customers. Their bank accounts and fees are ok for most and would appeal to the younger customers due to their apps etc, however they offer poor value on the paid accounts with little actual useful benefit beyond a different card design. They also have tendency to obscure or hide information in an effort to make things like loans or cards easier and quicker to apply for at the expense of customers being fully informed. This lack of clarity could harm customers as the ease of applying for products or services may lead them to make financial decisions not in their best interests. Flex is a good example of this, easy and quick to apply for an marketed as a credit card. However this is quite blatantly mis-selling as they are quick to tell you it isn’t a credit card the second you want to do something like a balance transfer. Flex should you end up paying interest is insanely expensive and a really bad product to use that many customers may end up using purely because it was easy and appeared simple so they didn’t do the research. Monzo know this and deliberately take advantage by defaulting to interest paying periods, offering high limits, and misleading customers. They similarly do the same with loans where the ease of applying and relative lack of upfront clarity means customers may not think to look elsewhere. Monzo is an ok bank, but don’t use anything beyond the basic account. If you want actual banking then look elsewhere for an established bank that is not driven entirely by marketing and fancy apps. I would summarise by saying that Monzo simply cannot be trusted to do what’s best for their customers and is more interested in treading a fine line between the bare minimum required by regulators and outright mis-selling of financial services. Personally I’d look elsewhere.”

Helpful Report

Posted 8 months ago

“Monzo have closed my account down without a explanation I had 1578.00 in there what I can't get back I've called the monzo customer service and got tossed around been a month now what can I do to get my money back....”

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Posted 8 months ago

“Terrible I'm locked out and impossible to get back in. I've done video 5 times, nothing. I've chatted to them useless. Thrives who steal your money, by not giving you access. They must be making a bomb, I'm probably one of thousands. Avoid”

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Posted 8 months ago

“AVIOD USING MONZO! They have close & froze my account without notice and I now have to wait 4weeks for the funds to be released into an alternative bank account! All of my funds were with monzo as I was using it as a main current account! The stories about them closing accounts suddenly and withholding customers Money are completely accurate and true! I have been with them since the beginning of this year in January. I would strongly suggest you stick to the high street banks. They currently have a legal case against them which you can read about online. STAY AWAY GUY’S THEY ARE CROOKS.”

Helpful Report

Posted 8 months ago

“I've been with Monzo for the last 7 years and this is the first time I actually need their help with a horrible situation - I'm a victim of fraud and been trying to get my money back for the last 3 days and Monzo support team is non-existent. The fraud team keep repeating the same questions and never seem to commit to any next steps and I'm really worried that they are simply going to carry on this lack of support/help/commitment to protecting their customers and will not give me the money I got stolen from my account.”

Helpful Report

Posted 8 months ago

“U r the biggest threat to people hard working money!!!u take what is not yours under the reason U r reviewing the account!!!!”

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Posted 8 months ago

“I don't trust this bank they don't follow there policey I was fraud by some person this person know everything from i open new account i recvied new card and i apply monzo flax i was fraud 25£ now i apply for fraud because when i join i see there policey was written they will refund fraud money 10,000£ some money i think now they harassed me three months after three month today they ask me again evidence i already provided them three months ago now again they want and ask me 100 questions now few min ago they rejcet my fraud case they can,t refund my money i don't trust them again they are fraud bank”

Helpful Report

Posted 8 months ago

“Appalling customer service. Monzo froze my account and 72 hours later has still not been in touch. I tried to make a large outbound payment for a very important, time conscious payment relating to closing on a property. Monzo froze the account and asked for some ID, which I sent, along with proof of the purchase reason. Since then, nobody has been in touch. I have called 7 times to see what is going on and nobody has contacted me from the correct team. I keep being told 'the right team has the info' but it apparently doesn't mean anything. One of the call operators even told me that nobody is investigating it. I don't know what's going on and I'm going to lose my deal because of it. Absolutely diabolical. I don't know any other bank that would freeze an account and not think it was urgent to reinstate it asap. Will be moving my money away asap.”

Helpful Report

Posted 8 months ago

“Absolutely useless bank. I switched my current account over to them from Santander and it feels me with so much regret, not only does their app barely work, their team are incapable of the simplest task, they locked me out of my bank account for days because my phone was stolen and once I had recovered my number allowed me access to my account via the app but would not allow me to unfreeze the card, I messaged them continuously through the evening trying to get them to open it so I could buy myself some food as I had none and my dog her medicine as she had run out due to the lack of access, then in the morning one of them unlocked it like it was nothing and the easiest thing in the world to do, I raised a complaint, still heard nothing back, but now contactless does not work and as that is the only card I now have due to switching banks, I am struggling to get into work, direct debits are failing to go through despite being set up and the money available, it’s just the worst bank I’ve ever had dealings with, utterly disgusting treatment and they claim to care about vulnerable customers but it’s a pack of lies. Do not switch to them.”

Helpful Report

Posted 8 months ago

“My Unfortunate Experience with Monzo Bank: A Cautionary Tale When I first opened an account with Monzo, I was drawn to the promise of a seamless, user-friendly banking experience. Little did I know, this seemingly modern and efficient bank would subject me to one of the most frustrating and distressing experiences of my life. What follows is a detailed account of my ordeal, which I hope will serve as a cautionary tale for anyone considering banking with Monzo. The Sudden Closure It all began on, 11th April when I received an abrupt notification from Monzo informing me that my account had been closed. There was no prior warning, no clear explanation—just a vague statement that left me baffled and deeply concerned. To make matters worse, nearly £10,000 of my money was suddenly inaccessible, and Monzo’s responses to my inquiries were anything but satisfactory. The Agonising Wait Despite my repeated attempts to get a clear explanation and regain access to my funds, Monzo’s customer service team provided nothing but vague and evasive responses. Statements like “no one can help you” and “we don’t know” were common, leaving me feeling helpless and infuriated. This lack of transparency and accountability is a gross violation of the Payment Services Regulations 2017 and the Banking: Conduct of Business Sourcebook (BCOBS), which mandate that financial institutions must provide clear communication and treat customers fairly. Escalation and Legal Threats As my frustration grew, I decided to escalate the matter. I sent a formal letter before action, demanding the immediate release of my funds and compensation for the undue stress and hardship caused. Despite my clear and justified demands, Monzo’s response was disappointing. They claimed they were following their internal processes and could not provide a concrete timeline for the release of my funds. This continued stonewalling was not only unacceptable but also in direct violation of their legal obligations. Partial Payments and Continued Evasion Recently, I received partial payments of £39.99 and £875.36. While I appreciate the gesture, it is far from the total amount owed to me. I have repeatedly asked Monzo for a detailed account of the remaining balance and a clear timeline for the release of my funds, but my inquiries have gone unanswered. The lack of communication and transparency is astonishing, especially for a bank that prides itself on being modern and customer-centric. The Emotional and Financial Toll The financial impact of having nearly £10,000 withheld for an extended period is significant, but the emotional toll has been equally devastating. The stress and anxiety caused by Monzo’s actions have affected my personal and professional life. This situation has highlighted a severe flaw in Monzo’s operations and customer service, raising serious questions about their reliability and integrity as a financial institution. My Next Steps Given Monzo’s continued failure to resolve this issue, I am left with no choice but to take further action: 1. Filing a Complaint with the Financial Ombudsman Service: I will be detailing Monzo’s regulatory breaches and the undue hardship caused by their actions. 2. Initiating Legal Proceedings: I will seek to recover my funds and pursue compensation for the distress caused. 3. Publicising My Experience: I am sharing this story to warn others about the risks associated with banking with Monzo. A Call for Accountability Monzo’s handling of this situation has been nothing short of appalling. Their inability to provide clear communication, resolve issues promptly, and comply with regulatory standards is a stark reminder that even modern, tech-savvy banks can fail their customers. I urge anyone considering banking with Monzo to think twice and to be prepared for potential issues that may arise. In conclusion, my experience with Monzo has been a nightmare. The ordeal of having my account closed without explanation and my funds withheld for an extended period has been incredibly stressful and financially damaging. I hope my story will encourage Monzo to improve their practices and prevent others from going through a similar experience. To Monzo: It’s time to step up, take responsibility, and ensure that no other customer has to endure what I have been through.”

Helpful Report

Posted 8 months ago

“AWFUL! The worst customer service I have EVER experienced with a bank! Rude, slow, useless. And absolute disgrace!”

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Posted 8 months ago

“They customer service is very poor, they don't know how to handle any issues they will just close your account without any explanation.”

Helpful Report

Posted 9 months ago

“Poor customer service Chat , phonne. And email Not 24/7 2 days no reply Causing huge problems”

Helpful Report

Posted 9 months ago

“Worse experience I ever had. Customer service is -1, not even close to being a normal company!”

Helpful Report

Posted 9 months ago

“I was deprived of my withdrawals and my funds were freeze by Monzo bank and they blocked my account after few months then I met Goodwin Cybertrace on reviewers review and he helped me out to get back my £10,000 hard earn money. i followed the image below to reach out to Goodwin Cybertrace”

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Posted 9 months ago

“I am temporarily outside the UK. I have tried several times to Transfer money from from my main UK Bank account to Monzo without success. I have sent 18 emails with the required "selfie holding Proof of Date". Each time I have received a prompt response telling me that the "selfie holding Proof of Date" was not acceptable for untrue reasons. I have been prevented from accessing my money!”

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Posted 9 months ago

Monzo is rated 1.6 based on 213 reviews