From Yahoo Finance: 2025-05-15 08:24:00

Monzo, the UK-based online bank, has unveiled a new feature that allows customers to reverse bank transfers within a specified time frame. This feature, a first in the banking sector, lets users cancel payments if they notice errors in recipient details or amounts. The default undo period is 15 seconds but can be adjusted to 10, 30, or 60 seconds. Customers will see an ‘Undo payment’ option after completing a transfer, with a countdown timer to facilitate the process. While aimed at enhancing security, the feature can be deactivated for those who prefer faster transfers. This feature is currently exclusive to Monzo current account holders in the UK.



Read more at Yahoo Finance: Monzo introduces undo payments feature for bank transfers