‘Carry a backup card’: Monzo hit by technical hitch

By Daniel Lanyon on 4th August 2017

P2P/Marketplace LendingFintechChallenger Banks

As the firm looks to add 20k current accounts per month, its core prepaid card service has been hit by technology glitches.

‘Carry a backup card’: Monzo hit by technical hitch

As the firm looks to add 20k current accounts per month, its core prepaid card service has been hit by technology glitches. 

The chief executive officer of the rapidly growing digital bank Monzo, Tom Blomfield, has apologised to its customers for a series of outages this week.

Monzo, which recently launched current accounts, has legions of fans in the UK with the bank expecting to have clocked up between 500,000 – 800,000 customers  by the end of year. It’s latest crowdfunding campaign was also enormously oversubscribed. 

Blomfield wrote to fans early today to apologise for recent card outages this week.

He said: “Our card processor has been experiencing technical issues that they haven’t yet been able to solve and so on several occasions card payments have failed, in the same way they did back in March.“

These incidents, he says, have lasted anywhere from a couple of minutes to over an hour (on Tuesday evening).

“These issues may continue for at least the next few days, so please ensure you carry a backup card with you from another bank. Unfortunately, we don’t know how long it will take our card processor to fix the issues, but we will always keep our status page up to date,” he said.

“These outages are unacceptable. I want to personally recognise that and apologise on behalf of the whole company."

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