Monzo demands customers to do additional identity verification

Currently, Monzo account owners can benefit from one of three levels of identity verification: standard, full or enhanced. However, due to the new AML regulation, the bank is no longer allowed to offer their base level of verification, the ‘standard’ one. Therefore, customers that are currently using this lower level have to complete the identity verification process to allow the bank move them up to the next level. This affects around 20,000 customers, all of whom will receive from Monzo a push notification and item in their feed in their app over the next few days to explain the process.

To verify customers’ identity, users need to snap a photo of their ID (passport or driving licence ideally) and a 5 second video of themselves and send it to the bank. Once this is done, they will receive another notification to let them know it was successful.

Users that need to submit further information have to do so until June 25, 2017; otherwise, the company has stated that will temporary freeze the accounts that do not comply with this procedure.