Monzo Trusted Access Terms & Conditions
These terms are between you and Monzo Bank Limited (Monzo/us/we). These terms apply to our Trusted Access service. They apply to you, the trusted third party, because a Monzo customer, the account holder, has asked you to help manage their Monzo account via Informal Access or you’ve been legally appointed to do so via Formal Access.
You should read these terms alongside our Data Privacy Notice and the Monzo Current Account terms & conditions which apply to the relationship between us and the account holder.
How to contact us
You can contact us through the Monzo app.
Email us at help@monzo.com.
Phone us on 0800 088 4040.
Or send a letter to Monzo, Broadwalk House, 5 Appold St, London EC2A 2AG.
How we'll contact you and send documents
Using the Monzo app, email, phone or mail to your home address, we'll:
contact you in English
send you any agreements, statements and other notices.
We also send you instant notifications when you or the account holder spend or receive money. Let us know as soon as possible if any contact details change for you or the account holder, including if either of you move abroad.
Getting set up
To give you access to the account holder’s Monzo account and, if applicable, give you your own third party spend card, we need to know who you are. We may need to carry out identity checks on you.
If you’re getting Formal Access to the account holder’s Monzo account, we’ll also need to validate and related legal documents.
Your role
You’ll act for the account holder, which means we’ll treat anything you tell us to do (within your authority or consent) the same as we would treat it coming from the account holder. This means the rules in the account holder’s own Monzo agreement apply to you too, including things like fraud refunds and chargebacks.
By acting for the account holder, you acknowledge:
You must always act in the account holder’s best interests and in ‘good faith’. This is a legal fiduciary duty.
You don’t have any legal right to the money in the account holder’s Monzo account. It belongs to them at all times.
You must only do things you’re legally allowed to do (for example, what’s written in a Power of Attorney document).
In the case of Formal Access, you must tell us straight away if your legal authority to help the account holder changes or ends.
In the case of Informal Access, you must tell us straight away if the account holder’s circumstances change and they can no longer make their own decisions. You’d then need a legal authority (like a Power of Attorney) to gain Formal Access.
What you can and can’t do
Depending on whether you have Informal or Formal Access to the account holder’s Monzo account, you might only be able to see their balance, or you might be able to make payments from their account or from your third party spend card.
Depending on what it is you want to do, you may be able to do this from the Monzo app, or you may need to contact us so we can check you have the correct legal authority or consent and support manually.
There are some things you won’t be able to do, no matter the access type. These include:
Opening new Monzo accounts for the account holder.
Applying for new loans, overdrafts, or Monzo Flex in the account holder’s name.
Using the account holder’s Monzo account for your own benefit.
Earning cashback on any third party spend card purchases.
You can find out more information about your level of access and what you can do in the Monzo app.
Making payments
Depending on your type of access, you may be able to make payments on the account holder’s behalf. There are different ways to make payments with Monzo. These payment types each work differently, and you can find out more about how payments work in the Monzo Current Account terms & conditions.
We may refuse to make a payment, reject an incoming one, or limit what you can do with the account holder’s Monzo account if:
It goes over any account limits (you'll find these in your app; they might change over time).
It breaches our legal or regulatory obligations.
It's outside the level of risk we’re happy with.
We suspect you're a victim of fraud.
Your instructions are unclear.
We suspect any criminal activity.
One of our partners refuses to make the payment for legal or regulatory reasons or because it's outside the level of risk they’re happy with.
You may also be able to block certain payments, for example by switching on a gambling or spending block. If you do this we'll continue blocking payments until you or the account holder tell us otherwise.
Third party spend card
Where applicable, we may issue you with your own third party spend card. This card will be in your name but linked to the account holder’s Monzo account. This will allow you to manage the account holder’s money.
When you make a payment using your third party spend card, you’ll both be able to view your spend activity in the account holder’s transaction feed in the Monzo App. You’ll be able to manage your third party spend card via the Monzo App.
Borrowing
If we’ve already agreed an overdraft limit with the account holder (we call this an arranged overdraft), you agree to act within the scope of your authority or consent, and your legal duty to act in the account holder’s best interests and in ‘good faith’. This means only using the arranged overdraft for the account holder’s benefit or to meet their existing financial obligations.
If, after you access the account holder’s Monzo account, the balance goes below zero (we call this an unarranged overdraft), this money will be due immediately. It's best not to spend long in an unarranged overdraft as it could harm the account holder’s credit score.
We reserve the right to limit, block, or require additional information for any transaction that utilises the account holder’s overdraft, or would take the account holder’s Monzo account into an unarranged overdraft.
Keeping things safe
You must take care of the account holder’s Monzo account just as carefully as your own.
Please keep your phone, PIN, security details and, where applicable, third party spend card safe at all times. If we find any security issues, we'll contact you and/or the account holder as soon as possible in the most secure way. If we’re concerned about the security of the account holder’s card or your third party spend card, we may freeze or cancel these to protect the account holder.
If you lose your third party spend card or see transactions in the app that look wrong, you must freeze your third party spend card and tell us as soon as possible.
You're responsible for making sure that your device can run the Monzo app, which we update regularly. Sometimes important information won't show correctly on older operating systems. We also can't guarantee that all features in the Monzo app will work as expected on older operating systems. For more information see our mobile operating system support policy.
When we can stop your access and your responsibility for losses
We may limit or block your access immediately if:
You had Informal Access and we find out the account holder can no longer make their own decisions. You’d then need a legal authority (like a Power of Attorney) to gain Formal Access.
You had Formal Access and we find out your legal authority has ended.
You do something you don’t have the legal authority to do.
We become aware that you or the account holder have died.
We suspect you’re misusing the account holder’s Monzo account or acting fraudulently.
You break these terms or put the account holder in breach of the Monzo Current Account terms & conditions.
We stop the account holder’s access or close the account holder’s Monzo account.
You must only act within the scope of the legal authority granted to you, or consented to by the account holder. If you act outside of this authority or consent, or breach these terms, you agree to reimburse us in full for any loss, cost, or liability we suffer as a result. This includes any refunds we’re required by law or regulation to pay to the account holder because of your actions.
How to make a complaint
If you have a complaint, please contact us and we'll do our best to fix the problem. If you're still not happy, you may be able to refer your complaint to the Financial Ombudsman Service and/or the Financial Conduct Authority.
Privacy
You’ll be able to see the account holder’s private financial information. You must keep this confidential and only use it to help the account holder. Our Data Privacy Notice explains how we’ll handle your and the account holder’s data.
The legal bit
English law applies to this agreement and English courts will settle disputes.
We can decide to change these terms for the same reasons and in the same way as set out in the Monzo Current Account terms & conditions.
Monzo Bank Limited, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 730427). Registered in England. Registered No. 9446231. Registered Office: Broadwalk House, 5 Appold St, London EC2A 2AG.
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