Monzo faces outage as thousands of users unable to make payments or transfers
UK fintech Monzo has suffered an outage that has left thousands of its users unable to use its banking services.
The digital bank said it had “identified some issues” and initiated a stand-in backup service, which would allow users to still complete card payments and receive transfers.
But some users have continued to raise concerns on social media that the service was still not working as expected.
Multiple customers raised concerns that they were expecting a transfer and it was not showing in their balance.
“I’m meant to be receiving my pay early today and I can’t even access the option to do so. Please can you fix this I have things to do,” one user wrote on X.
Users who log onto the app are greeted with the message: “We’re experiencing issues. We’ll let you know when they’re resolved.”
The Downdetector, which tracks banking outages, displayed a sharp rise in outage reports for Monzo around midday as more than 3,000 flagged their issues with the app.
It marks the second big outage for the fintech this year after customers were left unable to access cash on their app in a January debacle.
Outages have continued to trouble the wider industry with Lloyds Banking Group – which consists of Lloyds, Halifax and Bank of Scotland – suffering a “technical glitch” that led to customers seeing other users’ transactions on their mobile app.
A Treasury Committee report last March revealed nine of the UK’s biggest banks and building societies were down for over 803 hours – the equivalent of 33 days – over the last two years.
Barclays topped the list for most outages at 33, but had been able to reduce the length to 93 hours, shorter than some rivals.
HSBC was close behind Barclays with 32 incidents, but nearly double the amount of hours, shooting up to 176.
A Monzo spokesperson said: “We’re currently experiencing a technical issue and are working to resolve this as soon as possible.
“In the meantime, we’ve moved into our back-up system Monzo Stand-in and customers can still do most things on their Monzo app, including sending bank transfers and making card payments and ATM withdrawals.”