What to do if you need help looking after your account
Life can be unpredictable, and you might sometimes need support managing your finances. Whether it’s because of changes to your health, changes in decision-making, or simply planning ahead, having someone you trust to help with your Monzo account can make things easier.
We have a few options to support this, depending on the level of help you want: a Trusted Contact is someone we can reach out to if we’re concerned about your wellbeing or can’t contact you, but they cannot access your account, make decisions, or make transactions, while Trusted Access means someone has permission to access your account and may be able to give instructions or make transactions on your behalf.
1. Trusted Contact
One informal option is adding a Trusted Contact Person. This is a person you chose, such as a family member or close friend, who cannot see or use your account, but is a person who we can speak to about you in certain situations. We will record their name contact details and will only reach out to them:
if we’re concerned about possible financial abuse
to confirm your current contact information
to discuss your health status
to verify the identity of any appointed Legal Guardian, Executor, or Trustee
if we’re having trouble communicating with you
When appointing a Trusted Contact Person, we will capture both your consent and the Trusted Contact Persons consent to discuss any of the above, which may include confidential information about your health and personal circumstances. Please note, a Trusted Contact Person cannot:
access your accounts, make payments or manage your banking
make any decisions on your behalf
act as your legal representative.
Please note you cannot set up a Trusted Contact Person if you already have one of the following in effect:
A decision-making representative has been appointed
An enduring power of attorney has been appointed
A decision-making assistant
A co-decision maker
If you wish to appoint a Trusted Contact Person to your account, please contact us at ie.support@monzo.com and we will help you to make the necessary arrangements.
2. Trusted Access
If you would like more active help, Trusted Access lets someone you trust log in to your account to support. You choose who they are, and we can provide them with read-only access, so they can view your account and make instructions or make transactions on your behalf. The money is still yours. This isn’t the same as a joint account, it just means someone you trust can help you stay on top of things when you need support.
There are more formal options too, you can find those below and on Decision Support Service website
3. Formal access
There are a number of formal arrangements that can give someone different levels of access to manage your account. These arrangements must be registered and verified. Full details are available at the Decision Support Service website. The formal arrangements are:
Decision Making Assistant
Co-Decision Maker
Decision Making Representative
Enduring Power of Attorney
Each arrangement sets out what this person can do, and the level of access they’ll have to your account.
If you’re managing someone else’s account
If you’re supporting someone else, your responsibility is to act in their best interests and within the limits of the authority you’ve been given. Where possible, support them to make their own decisions by sharing information clearly and involving them in discussions.
If you have any questions, you can reach out on the details below and a team member will get back to you as soon as possible:
call us on 1800 849 291 (or +35 3123 37650 from abroad)
email ie.support@monzo.com
