UK’s Competition and Markets Authority has ordered digital bank Monzo to review the way it informs departing customers of their historic financial transactions. Monzo was found to have breached the Retail Banking Market Investigation Order between May 2021 and March 2022 after the bank failed to send transaction histories to more than 13.

000 customers, despite reporting a similar breach the year before. It now has to make sure that every customer receives copies of their transaction history when they close their account, which acts as important evidence if they choose to apply for a loan or mortgage elsewhere. .