Who are Monzo?
Monzo is an app-based bank. Its overdrafts are charged at 19%, 29% or 39% EAR variable, depending on the customer’s credit score (checked October 2026).
Can I claim against Monzo?
You could, if any of these sound familiar:
- 01In your overdraft most of every month
- 02Wages in, straight back into the red
- 03Your limit went up while you were maxed out
- 04Charges kept coming, and nobody got in touch
Limit increases count too. Each one was a lending decision, so each can be looked at.
What you could get back
Average overdraft claim£2,0231
Overdraft interestRefunded
Fees and chargesRefunded
Interest on your refundAdded
Missed payment markersRemoved
Refunds usually run from when the bank should have stepped in. If you’re still overdrawn, a refund may reduce what you owe rather than being paid in cash.
Ombudsman decisions about Monzo
Published Financial Ombudsman decisions show how complaints like these are judged. Where a complaint is upheld, it is often only from a certain date or for certain lending. Every complaint is decided on its own facts, so these are examples, not a guide to what you’ll get.
- Upheld
Checks before raising the limit to £2,000 in July 2022 were not good enough, and Monzo didn’t step in on persistent use. It was told to refund interest and charges above £750 and correct the credit file.
Read decision DRN-4465599 - Not upheld
Checks on a £1,000 overdraft were found to be proportionate.
Read decision DRN-4742032
Monzo overdraft questions
Can I claim if I’m still overdrawn?
Yes. If the complaint is upheld, the refund may reduce your balance rather than being paid to you in cash.
Will my overdraft be taken away?
It can be. If a complaint is upheld, the bank may reduce or remove the overdraft and agree an affordable way to repay what’s left.
How long does Monzo have to reply?
Eight weeks. If Monzo hasn’t sent a final response by then, or you’re unhappy with it, the complaint can go to the Financial Ombudsman, normally within six months of the final response.
How far back can I claim?
Usually six years from the lending, or three years from when you realised you had cause to complain, whichever is later. Where an account is still running, the ombudsman has sometimes looked back further.
Complain to Monzo yourself
You don’t need a claims company. You can complain to Monzo directly using its complaints page. If you’re unhappy with the answer, or it hasn’t replied within eight weeks, you can take it to the Financial Ombudsman. Both are free.