Why Was My Portfolio or Stock Trading Account Rejected?
Your Monorail Portfolio or Stock Trading account may not have been approved, but in most cases the issue can be resolved quickly.
Common Reasons an Application Is Rejected
Your application may be rejected for one or more of the following reasons:
Incorrect Social Security Number (SSN) or Date of Birth (DOB) entered on the application.
The address on your application does not match the address on your driver's license or state-issued ID.
Your Equifax credit file is locked or frozen, preventing the required identity verification.
A Fraud Victim Alert or Temporary Fraud Alert is present on your credit file, requiring additional review.
A P.O. Box, commercial address, or mailbox was entered instead of a residential address.
Your linked bank account has less than $100 available at the time of the application.
Your identity could not be verified due to missing or inconsistent information.
Credit Freeze or Fraud Alert
If your Equifax credit file is locked or frozen, our clearing firm cannot complete the required identity verification.
If your application was rejected because of a credit freeze or fraud alert:
Unfreeze your Equifax credit file through the Equifax website or mobile app.
If you have a Fraud Victim Alert or Temporary Fraud Alert, contact the credit bureau that placed the alert to resolve or remove it before reapplying.
Once resolved, let our support team know so we can assist with the next steps.
Address Requirements
The address on your application must match the address shown on your government-issued ID.
Residential addresses are required.
P.O. Boxes, commercial addresses, mail forwarding services, and mailbox addresses may be disqualified
If you recently moved, you'll need to update your driver's license or state-issued ID before your application can be approved.
What We Need From You
To begin the appeal or review process, please send:
A clear photo of your driver's license or state-issued ID (front and back)
Additional documents, such as your Social Security card or passport, may be requested if needed.
You can securely submit your documents:
Through the in-app chat
Through the website chat
By emailing support@monorail.com
What Happens Next?
Once we receive your documentation:
A Monorail support agent will review your submission.
If additional documentation is needed, we'll let you know.
Your information will be submitted to our clearing partner for review.
Most application appeals are reviewed within 48 business hours.
A support agent will notify you once a decision has been made.
Need Help?
If you're unsure why your application was rejected or need assistance restarting the process, please contact us at support@monorail.com.
A Monorail support agent will respond within 1 business day and help guide you through the approval process. đşđ¸