Monzo has revealed that its 'undo payments' feature, launched in May 2025, has reversed £323 million worth of mistaken transactions. The tool allows customers to cancel a payment within 10 to 60 seconds of making it, preventing funds from leaving the account until the timer expires.
According to the bank, the feature now stops an average of 6,389 accidental payments daily—nearly 45,000 per week—with the typical reversed transfer valued at £202. One customer even accidentally sent £2.5 million, which was successfully undone.
Monzo noted that users realise their mistake in about nine seconds on average. The 'undo payments' option appears as a timer on the confirmation screen, and customers can choose to disable it or set it to 10, 15, 30, or 60 seconds.
Research cited by Monzo indicates that one in ten people in the UK have sent money to the wrong person by accident. Andy Sacre, head of payments at Monzo, said: 'We built undo payments to give people a few seconds to catch those “oh no” moments and put things right.'
