Monzo warned users to take a different card out with them yesterday after its service crashed, disabling card payments, top ups and transfers for customers.

The bank attributed the outage to a technical issue that occurred on the Global Processing Services (GPS) system, impacting a proportion of transactions across several customers and cardholders. Suresh Vaghjiani, managing director at GPS, said: “We provide our service to the leading FinTechs in the industry who have selected our platform to allow them to innovate in a way that they were unable to do before. However, on this occasion we have fallen short of the high standards that we have prized ourselves on.”

An announcement from Monzo read: “We’re so sorry for any inconvenience this causes you. Your money is safe and this is only a temporary issue. We will be conducting a full review of how and why this happened and what can be done in the future, by both us and the supplier, to ensure this does not happen again.

“These hiccups can happen, particularly in a new and growing business being supported by new and growing partners. However, we do not believe the level of interruption to core parts of the service that we’ve experienced recently are acceptable, and that is why we will be moving our card processing in-house for the current account.”

The challenger bank experienced a similar issue in March, following a ‘severe outage’ at its third party processing supplier.

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