You are here: Home - Saving & Banking - News -

Monzo advises 480,000 customers to change their PIN after security blunder

0
Written by:
06/08/2019
Monzo is urging almost 480,000 customers to update their app and change their PIN after numbers were left in a part of their system which members of staff can access.

The digital bank said it stores records of PINs in a tightly controlled and secure part of its systems but on Friday 2 August it discovered it had been recording some people’s PINs in a different part of its internal systems.

Monzo said it has deleted the information stored in the wrong place and made sure the information wasn’t accessible to anyone in the company.

There is no indication that anyone outside Monzo had access to the PINs and the bank has said no fraud has been carried out.

The issue affected less than a fifth of UK customers and Monzo said it has emailed anyone affected telling them to change their PIN to a new number as a precaution.

What customers should do

If you’ve been affected, you are advised to change your PIN by putting your Monzo card into a cash machine, entering your old PIN and choosing ‘PIN’ services. Then choose ‘Select a new PIN’ and change it to a new number.

All Monzo customers have been advised to update the app to the latest versions which are iOS 2.59.0 and Android 2.59.1.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Borrowing money from a loved one: what you should and shouldn’t do

It can be difficult to ask family or friends for a loan but there are ways to make the conversation...

Close