Why we restrict or close Monzo accounts
Finding out we’ve restricted or closed your account can be stressful. You might not know why it’s happened, what you can still do, or what happens next.
Banks sometimes need to restrict or close accounts to protect customers, meet legal and regulatory requirements, follow their terms and conditions, and help fight financial crime.
If we’ve restricted your Monzo account, check in the app for the latest information. We’ll tell you what restrictions apply and whether there’s anything you need to do. If you can’t pay for essentials like food and medication because of a restriction, contact us and we’ll see how we can help.
What happens when we restrict your account
Having your account restricted doesn’t always mean you can’t use it at all. What you can and can’t do depends on the restriction. Check the app to see what applies to you.
Depending on your account, you may still be able to:
Receive some payments, like your salary or benefits
Use other Monzo accounts or products that aren’t affected
Spend a limited amount using your card
Some things may temporarily be unavailable, including:
Making bank transfers
Moving money between accounts or Pots
Making or receiving certain payments
Making some card payments
Using some features linked to your account
If you’re able to spend money while we’re reviewing your account, we'll let you know in the app. There may be limits on how much you can spend though, so some card payments could still be declined.
Why we might restrict your account
There are a few reasons we might temporarily restrict your account.
We’ve spotted unusual activity
We look out for activity that could be linked to fraud or other financial crime. If we spot something unusual, we may temporarily restrict your account while we look into it.
We think your money could be at risk
Sometimes we spot signs that someone else might have access to your account. We may temporarily restrict it while we check whether it was really you making payments or using your account. If we can confirm everything’s okay, we’ll remove the restriction.
We’ve spotted a potential risk
Sometimes we spot activity that could put Monzo, our customers or other people at risk. We may restrict the account while we look into it and decide if we need to take further action.
Law enforcement asks us to
We may also need to restrict an account as part of a law enforcement investigation.
Why we sometimes can’t tell you exactly what’s happening
We know it’s frustrating when we can’t give you more information. But there’s a reason for this – sometimes telling someone exactly why we’ve restricted an account could make it easier for criminals to work out how banks spot suspicious activity and get around those checks.
The law can also limit what we’re allowed to say because sharing information could affect an investigation. This is sometimes known as ‘tipping off’.
We’ll always give you as much information as we can.
Why we might close your account
Like other banks, there are situations where we may need to close an account.
In most cases, we’ll give you 90 days’ notice and tell you why we’ve made that decision.
Sometimes, we may need to close an account immediately. This can happen if we believe you’ve:
Broken our terms and conditions
Broken the law or tried to break the law
Put us in a position where we might break the law
Given us false information
Why banks need to do this
Financial crime can cause serious harm to people, businesses and wider society.
Banks have a legal responsibility to help stop their accounts being used for crime, and restricting or closing accounts is one way we do this.
We may also restrict accounts to help protect customers if we think someone else has access to their money.
Questions? Answers.
Why has Monzo restricted my account?
There are different reasons we may restrict an account, including unusual activity, concerns that someone else has access to it, legal requirements, or checks linked to financial crime.
Check the app for information about the restrictions that apply to your account.
Can Monzo always say why an account is under review?
Not always. Sometimes giving more detail could help criminals get around security checks, or the law may limit what we’re allowed to say.
Can Monzo ever close my account immediately?
In some circumstances, yes. For example, we may need to act immediately if we believe you’ve broken the law or our terms and conditions. If we close your account, we’ll always keep your money safe and aim to get it back to you as quickly as possible.
What should I do if I urgently need access to money?
If your account’s restricted and you can’t pay for essentials like food or medication, contact us and tell us what’s happening and we’ll see how we can help.