But what has led to so many customers claiming they have been badly let down after Monzo froze their account for no apparent reason? A private Facebook group, “Monzo stole our money”, has grown to 850 members, mostly customers complaining that their accounts were frozen without warning. Photograph: Monzo/PADespite this, Monzo denies that it has changed the way it monitors activity, or that it has a problem with freezing accounts. It claims that when it investigates its frozen accounts, it finds it made the correct decision in 95% of cases. There is a phone line, but those who have their account frozen after the bank finds irregularities are barred from using it.

Source: The Guardian January 18, 2020 08:30 UTC