Got a Cifas marker on my name

Monzo has marked my name for ‘misuse of facility’ and now I am too much worried. I am doubtful of what to be done and feels alone.
I would like to know the ways to resolve this.

(edited 11 months ago)

Reply 1

Admit-One

Universities Forum Helper

Original post

by ttjibran

Monzo has marked my name for ‘misuse of facility’ and now I am too much worried. I am doubtful of what to be done and feels alone.
I would like to know the ways to resolve this.

Are you aware of what activity is likely to have been flagged as misuse? Moving funds around for other people? Large amounts being deposited/withdrawn?

Reply 2

ttjibran

Original post

by Admit-One

Are you aware of what activity is likely to have been flagged as misuse? Moving funds around for other people? Large amounts being deposited/withdrawn?

Yes that is the case. I moved funds but it was almost 500£ only.

Reply 3

Admit-One

Universities Forum Helper

Original post

by ttjibran

Yes that is the case. I moved funds but it was almost 500£ only.

I’m that case you were likely in breach of the terms of use of your account and the marker has been applied correctly, (it’s not a punishment, it’s a warning to other lenders).

The only ways around this are:
- Provide evidence of what the transaction related to. This is only worth while if it was a legitimate purpose, not “my mate asked me to move money around
- Wait for the marker to expire