3% in Turkey?

Hi everyone,

This may have been asked before so apologies if it has but I can’t find it :confused:.

As you can hopefully see from the attachment I have just taken money out of my account in Turkey and been charged 3%.

Is this what has been charged at this end on Turkey?

It looks like the 5.5% at the bottom on the attachment has not been charged.

Just a bit confused :confused:.

Thanks in advance :+1:t2:

It looks like you had the merchant make the currency exchange and charge monzo in GBP. Rather than have monzo make the currency exchange.

1 Like

Monzo don’t charge a conversion rate. This would’ve been applied by the ATM, not Monzo. My best guess is that you selected (or were tricked into selecting) ‘yes’ when the ATM asked if you would like dynamic currency conversion applied.

1 Like

Cheers for the replies.

I asked for my cash in Turkish Lira which I thought was right?

Was this from an ATM? A lot of these ATMs make these screens deliberately confusing to get these fees out of tourists.


Yes it was from an ATM

As @eden says, a lot of ATMs make their menu screens confusing, because the best case for them is that you use Dynamic Currency Conversion. I recommend that you use the in-app chat to alert Monzo to the fact that you did not mean to carry out the transaction in GBP, and to ask them how you could dispute this.

To be clear, they can’t help you directly; the error (as it were) isn’t with them. But they may be able to help you direct your complaint to the owner of the ATM used.

Alternatively, maybe some Turkish users will be able to chip in with replies to this thread.


As a Turkish person here, I’m surprised at the amount of money the ATM let you take out (I’m from the UK) the last time I went to Turkey the ATM’s only let me take out around 200TL. Maybe you should try to go to the Garanti branch you withdrew from and ask if they could do anything.

1 Like