Thanks
Merci
Danke
3 Likes
Don’t let it go to your head, though 
looking at me I don’t think that will happen…it is more likely to go to my waistline
I did find it odd, now Monzo have investors, they weren’t salesclerk but put to an open vote??
If I were an investor I’d be rather annoyed, and realising now the word ‘Investor’ doesn’t mean much!
Maybe take the full range of cards abroad if you want free foreign cash, take Monzo, Starling and Revolut. If Starling have the same £200 free in future, that’ll be £600 per month free abroad. If that’s what you want from these cards. For me not, but the major USP for some.
I’ll just watch from the sidelines for the next year whilst they all change and squabble over what’s best, then reassess then, as they should all have a better idea of their ongoing costs and position then I hope.
It might be that Monese, or the arrival of n26 to the UK will be the best option.
It’ll all change again inside of 12 months I’m sure.
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I only realised that we are also only allowed 1 withdrawal per month, not 200 GBP in x, some ATMs abroad won’t even allow you to take more than 100GBP at once 
It’s 1 fee free foreign withdrawal on the prepaid card. After that you have to pay the fee, and in the UK you can make as many withdrawals as you want.
Yes I know, but I can’t remember it having been explicitly stating before that it will be 1 withdrawal…
That’s new in just under 2 months when the new fees come in. By that point everyone will have had the opportunity to transition to the current account which doesn’t have that limitation.
I should clarify that there will still be free cash withdrawing within the UK up to the normal limits on the pre paid card.
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Current account will have different rules?
I would hope so! I can currently withdraw £500 a day in the UK.
But in regards to how many foreign withdrawals are free, that’s why I hate the supposedly “fair” option, which is far from it. You can’t withdraw 200GBP in many places in the world due to the limitations of the ATM itself. I know that increased number of withdrawals makes Monzo incur costs again, but it just shows how daft this 200gbp + 3% option is.
Is it also going to be just one withdrawal per month in CA?
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No it’s £200 per month as already described. Number of withdrawals doesn’t come into it.
Funny that everyone’s an ATM expert, talking about fair this and limited that, moreso than Monzo who are a bank and have the actual usage data to hand.
ATM fees chat is seriously dull now. Go read the FAQs, make your own minds up and either use Monzo or don’t.
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…what is has all really been about. A lost leader to attract customers for the current bank account business, while the originally advertised free withdrawals and purchases abroad lure is diminished to almost useless.
When travelling abroad many people are more likely to need £200 a day and certainly a week rather than a month, subsequent to which the 3% charge makes it completely uncompetitive.
I have a Zero Santander credit card and if I make a payment to that account in anticipation of withdrawals anywhere in the world then it will be fee free and it also uses the MasterCard rates and Halifax Clarity is the same.
So, who needs Monzo ???
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I fear you may have missed the point of Monzo. Yes they did the prepaid card but it was always all about the Current account as Tom has said.
They aren’t in the business of being a travel card they are in the business of trying to help their customers be better with their money by the introduction of budgeting tools, helping reduce bills with the upcoming partnerships, helping customers understand where they are with their money with instant notifications of payments.
Tom has said many times what they want to be is a hub of your financial life. Never have they suggested they are a card that is only good for Travel rates and why it may have been a benefit at the beginning they fully engaged with the community of how those charges worked.
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Only ATM withdrawals abroad are changing, purchases by using your card in shops and restaurants etc remain free worldwide.
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I, for one, am grateful for Monzo. Although I don’t travel abroad as much as some people, I’m better off with my (now) current account, as most of my purchases abroad are on my card. So no “non Stirling transaction charges.” Cassie’s, I don’t need %200 a month. And that’s on top of the talking point when I use it here in the UK. So thank you Monzo
So this was your only other post, back in September, @anon11781530
Where you stated (and I quote)
…we dont want Monzo to go the way of Supercard last July so let us do whatever is needed to keep it alive. I have a slight preference for Option 2 but whatever suits the majority best is clearly to be preferred, to maintain the customer base.
So why the vehement change of heart?
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To be fair to monzo - apart from the odd rogue COp or excited superuser, the fact that foreign withdrawals were free wasn’t a key selling point until MSE grabbed it and squeezed every drop of goodness out of it. Monzo’s founders felt forex charges from banks were unfair but never wanted to be a travel card, they wanted to be a financial hub for people who live their lives on their smartphones, and now that users like you have taken them for every penny on forex withdrawals they have been forced to shut the door for everyone. It’s a shame for the many who value the user experience and had the free forex as a side benefit.
People like you who withdraw £200 a day abroad are to blame for the restrictions for everyone. It was not a trick, it was just a good thing that became abused by you and had to end to stop Monzo from being bankrupt.
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