It’s 30 rolling days. So you’d be charged on that 31st withdrawal. You could withdraw £100 on 31st May with £0 fee. Or, wait till 9th June (or so) & withdraw £200.
if you’re not on twitter, Facebook, Monzo website, or the community forum is there any other way of knowing that when you have withdrawn your £300 from a cashpoint abroad £100 of it will have a 3% charge before you have withdrawn it , apart from looking in your spending limit screen ?
as long as everybody is notified before pressing the buttons on the cashpoint today to have to rely on everybody looking at their spending limits before pressing the cashpoint buttons is asking for trouble when the charge rolls in
Ive only just received it , was on to customer support at 15.50 and hadn’t received it by then which is fine because I haven’t used a cashpoint abroad today so wouldn’t incur any charges anyway
You still have fee free up to £200 in a rolling 30 day period. Unless you’re somewhere cards and/or MasterCard are not widely accepted this should be ample for most trips.
If you’re in China or similar this a huge retrograde step I agree.
The reality is that people were using this as a foreign cash exchange card, and that came at a huge cost to Monzo. The new system is very reasonable - if it’s part of typical overall usage, it’s still free - the small costs are offset by your profit-making activities.
If you want to exchange large sums of cash, you’re still allowed to, at a better-than-average rate (look at a Lloyds debit card…) that includes a fair and reasonable profit margin (since you’re not otherwise really in the ‘likely-to-be-profitable’ customer camp), but isn’t gouging or excessive.
one question: if I were to draw out £ sterling abroad, that incurs no fee on the prepaid? Have I read that correctly?
It’ll appear to everyone today in their app and show in your limits screen (and maybe travel reports, but I’m not sure about that)