Monzo Complaint

payment to the Ombudsman per case, regardless of outcome (past their free allowance)

Not true. The FoS can’t determine processes legitimacy, only that X party are due compensation

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Monzo paid me the £25 hush money as well. Still escalated to the FOS, because as said, it’s the process, not the resulting consequence that irked me.

They couldn’t help with that, but decided Monzo were in the wrong.

In the end I’m up £75 and got my interest charge back. But the process remains the same for now.

Only difference is, in the ombudsman’s eyes, the onus is on my now, because I’m aware of it and need to act accordingly, though Monzo have said if it does happen to contact em and they’ll put it right.

It’s up to the FCA and/or Monzo if they’ll ever actually fix it so this can’t happen to anyone again.

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Of course they do. They decide whether a customer has been treated fairly and direct them to provide compensation if not.

They do not. They can only decide to award compensation and if they believe it unfair, they cannot require process changes as that is not in the remit of the Ombudsman.

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Although much of this topic is, at least for me, rather déjà vu, the FoS thing got me interested.

A cursory glance at their website confirms they have significant powers. Quite apart from the awarding of compensation, they can direct a bank to change practice.

Although the phrase is “We can ask……” it’s clear further in that they’re not just asking :face_with_raised_eyebrow:.

Good to know.

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It’s implicit.

Indeed. It’s what I was hoping would come of my complaint, but they said as much in their decision. It’s a matter for the FCA and not within their purview.

Many years ago, I had a complaint against Alliance & Leicester (remember them?) and the investigator freely admitted to me that they would pay out for complaints where they felt they were on dodgy ground and could result in a loss to the Ombudsman - in my case £300 to the good.

They had tried to play the system by not allocating my formal complaint to an officer for 2 months and starting their “clock” only when it had been allocated. It began as a complaint about not receiving a cheque book (remember them?) and spiralled out from there!

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Yeah they only wish that would work, I always go by 8 weeks when I tell them. Not my problem if they choose not to look at it.

Which was part of my complaint as well. They hadn’t sent me a cheque book because the account was blocked, but they’d neglected to let me know this was the case, both when it was blocked and in about 20 subsequent phone calls.

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