I am very shocked and angry today and hope someone here has an explanation.
I am not using my Monzo anymore and hence I decided to switch to a different bank. Particularly to HSBC to get that sweet 5% Regular Saver.
Monzo is part of the Current Account Switch Guarantee and they even say on their website that this is a service to easily switch between banks.
I got a message from Monzo saying they don’t allow to switch out but they do offer to switch in. I don’t think that this is fair. If you want to play the game please play it right.
I dropped a chat message to Monzo explaining how this is not ok.
Anyone can show me something I don’t see or know about Monzo and switching out ?
My understanding is the new bank takes on all responsibility and the old bank is kind of stuck being pulled along.
As a participant of the Current Account Switch Service, your new bank or building society guarantees your switching process.
It wouldn’t be the first time I’ve had very poor support from Monzo customer service, compared to First Direct they are light years away still. If FD can offer the same app experience (and don’t merge into HSBC fully) I don’t see a reason to ever move fully onto Monzo, I have both just in case HSBC does finally merge them!
I would love it if First Direct updated their app. Their website has just seen a recent update and I think a slight improvement.
Their customer service from my experience really is incredible. I’ve called them about 8 times to ask questions or for me being stupid and losing cards etc. I can’t knock them at all.
I have a sole account with Monzo and I have a joint account.
If you close your sole account you have to close your joint account. You have to have a monzo account in order to have a joint account. This caused the system to ‘fail’ as the automatic account switch wanted to do the switch but Monzo didn’t let it happen. To be fair when I called Monzo they were quick responding.
Now when I was on the phone I said: Don’t you guys just lose more customers as I would have kept my joint account. But no its all or nothing.
Now fingers crossed the switch will happen… I am expecting a switch bonus and access to that 5% reg saver.
So anyone who wants to switch out of Monzo make sure you don’t have a joint account …
I agree I was really shocked to see their costumer service going down. For hours no one answered by chat within the app and I had to call them. After that call I had to go back into the app and give my pin to authorise the closure of my joint account. Once I typed in my pin code nothing really happened and I had to call them up again … Long story short they are sorry and they see its a bit silly to link the joint account to the single account as these should be treated as two different accounts (as it is with any other bank !)…
Ah, that explains it then. The joint account is linked to the personal account and I can’t see it changing anytime soon. The KYC and ANL checks are done when opening the solo account and that allows the easy opening of the joint one
Absolutely, I’m a huge fan of the changes they are making. I know they are working very closely with Bud so I’m hoping for some really exciting new features.
I don’t understand why they don’t get a worst wrap for this. Their customer service is massively underqualified, understaffed, and generally have no clue. It’s 24/7 round the clock support by people who can’t help you.
I really hope they improve that aspect, they are so close to being an actual reliably bank but they keep tripping up!
Customer service has been great for me. Took a few hours to respond but you can’t expect instant response unless you are willing to pay for it. My only comparison is Lloyd’s bank and they are bad on so many levels.
@lucas I agree with your point on having a ‘free’ service. However let me give you an example: I asked on the phone: “How long do you think xy will take?”
Monoz: “I will get this to an expert and they will get back to you via the chat within 10-15 min”
Me: “Oh wow thank you thats amazing”
– 4 hours and 4 expressos later – nothing — I call Monzo again.
Me: " Hey this is Cey – I was talking to ABC and he told me that you guys will get back to me …"
Monzo: “I have no information about that and can’t see that anyone is suppose to call you or text you, can you explain to me what the problem is?”
After explaining again what the issue is I was told that “we will get back to you” —
To be fair it was solved after that within 1 hour but … Free or not free
Don’t say it will take 10-15min if you know it will take 4 hours –
