£1000 monthly ATM Limit

[anon95680666]

I would have thought so - it costs Monzo a 2.5% fee outside of UK/EU for ATM withdrawals if some people use it extensively to withdraw cash rather than using POS terminals outside of UK/EU it obviously costs Monzo a lot of money for the users to receive the benefit of good exchange rates.

You can get enhanced verification which ups your ATM limit to £2000 monthly limit , but if Monzo review your usage and see that your record of usage is outside EU and mainly cash withdrawals they might not feel inclined to give enhanced limits -

Your £1000 limit if all cash withdrawls at ATMs cost Monzo £25/month which is unsustainable on a continuing usage - presumably Monzo would have to consider charging eventually for a few that only withdraw cash outside EU

Monzo's Tom Blomfield on cutting the crap from financial services

This interview was pretty wide-ranging, and maybe I was too vague at the time! We’ve got a clear goal - we want Monzo to be a financial control centre for a billion people around the world. But the path to getting there is not set in stone. We tend to be quite iterative, so making cast-iron promises about the future is frankly impossible. If you’d have asked me two years ago whether I could guarantee we’d still be called “Mondo” today, I’d have probably said yes. And I would have been wrong! …