ATM Fees Abroad: Asking the Monzo Community to decide pricing

[garete (Gareth)]

Not the thin end…

Competitor update

We found out from the annual report today that Around 40% of the per-customer loss is due to international ATM usage outside the UK or EU, with a small minority of our user-base driving the majority of this cost. And As a result, we will explore ways to reduce this cost in collaboration with our community – it will not be a profit-making exercise. UK and EU ATM usage costs us much less, and we aim to keep this free. We still believe foreign exchange at point-of-sale (in shops, restaurants …