Crowd-funded challenger bank Monzo is offline again and warning tourists across Europe that they will not be able to access their funds.
A statement sent to user’s smart phones said: “Please use another card as the Monzo card is currently being declined. Card payments, top-ups and transfers have not been fully functional since 7.45am – one of our suppliers is having issues.”
Which is all well and good if you have another card with you.
Monzo made it clear that nobody would lose money because of the problem and that if they incur fees by being forced to use other cards they would be refunded.
It is a smart bank for the smartphone users which does away with bank branches and is based on an app.
Tourists have found it a boon because of the interest rates offered on transactions in European holiday destinations.
Monza says: “Focussed on building the best current account in the world and ultimately working with a range of other providers so that Monzo can be an intelligent hub for your entire financial life.”
Users have spent more than £20m in over 130 countries since launch earlier this year.
The Monzo card is a pre-paid debit card but there is no bank account, sort code or account number so no Direct Debits and Standing Orders. These are expected to be part of the service in the near future.
This is not the first time the organisation has had problems though.
In March they said “ As many of our customers will already be aware, we’ve been experiencing a severe outage meaning that Monzo cards and our app have not worked for most of today. We know our customers depend on Monzo, and we’re truly sorry for letting you down. We’re working to fix the problems as quickly as we can, but we wanted to let you know what has happened and what we’re doing to stop this happening again.”
Well it has happened again.
If you’ve run out of money on a package holiday, talk to your package organisers’ representative in the resort.
If you’re an independent traveller contact your bank or a friend or relative and organise money to be transferred to you.