ATM Fees Abroad: Landing Today

Stratford has a station called Stratford International which is sort of a connection. You can take High Speed and connect to Eurostar.

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cant wait for Birmingham International Airport to be reclassed as London Birmingham , like London Luton , though I am wondering if Manchester will ever be close enough to be London Manchester International once HS2 is in place :slight_smile:

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So so disappointed at the. Cash withdrawal limit. I have been singing the praises of Monzo to all that will listen. Whilst I appreciate the card can be used for purchases, the limit of Ā£200 is ridiculous. It wouldnā€™t last two days. Such a shame.

Iā€™m sorry this hasnā€™t worked for you, we did consult the community when making this difficult decision :frowning:

To clarify, this is not a limit as such - you can withdraw more than Ā£200 - but you would be charged 3% on any non-sterling withdrawals above Ā£200.

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Singing Monzoā€™s praises isnā€™t going to cover the costs of people withdrawing massive amounts of cash overseas, unfortunately.

However if you are after a Bank that will, Starling offer no fees for withdrawals or POS so it may be worth looking at.

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Has any effort been expended in trying to realise why people do this? The CEO recently stated that people did this for reasons he could not understand.

Vast swathes of the world only deal in cash.
Certain activities are best left discretely paid for in cash.
It is hard to avoid DCC rip off sometimes and cash solves the problem - to name but three possibilities.

ā€œCertain activities are best left discretely paid for in cash.ā€ - do the ā€œcertain providersā€ not have access to point of sale terminals :slight_smile:

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Obviously I am speculating but suppliers of certain pharmaceutical products usually donā€™t have POS terminals.

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Maybe if you offer to buy them oneā€¦ :rofl:
https://www.worldnomads.com/travel-safety/southeast-asia/thailand/police-what-you-need-to-know

You are right! I opened monzo account for the same reason. But Iā€™ve read few days ago that transferwise introducing their own debit card as well in nice high vis green colour. Seems like a competitor! :wink:

Not a competitor right now but yes, you could use their service for managing / paying with foreign currencies instead :slight_smile:

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This is so stupid. This is one of the reasons I joined (and invested). Think about how real people use their cards - they go abroad, spend a bunch then come home and donā€™t spend again until they go abroad - maybe a couple of times a year tops. The only people this will work for are business travellers who regularly pop over and spend very little.
Iā€™ve just registered with N26 and will be using this when travelling in future.

If youā€™ve invested surely you would want Monzo to build a sustainable business model?

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Ha ha! Thank you for this. Love a bit of satire.`

Original post edited to remove satire sadly.

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We tested one of these ATMs the other day - they bill in eurosā€¦ or at least the one we tried did :slightly_smiling_face:

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Thatā€™s awesome! Great way to get USD for free! I had a friend tell me before he saw no way to avoid DCC.

I use my card every time I make a transaction. Monetary behaviour differs among everyone, so saying itā€™s only used on holiday is a large, inaccurate blanket statement.

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Was the point not about holidays and atm cash withdrawals? Where ā€œmostā€ people only go once a year

I think they were replying to a post claiming these fees made the card ā€˜uselessā€™ and that ā€˜real peopleā€™ only use their card when abroad.

  1. Iā€™m a real human, Iā€™m pretty sure. Wanna try a Turing test on me to be sure? I use my card mostly at home, in London, for POS transactions (almost never for cash). When I travel, itā€™s mostly within England.
  2. When I do travel abroad, a few times a year, I mostly use my card for POS transactions. There are exceptions - Hong Kong (only for public transit, Ā£200 would have been way more than enough), Japan (very cash heavy) and the Philippines (cash heavy but cheap, Ā£200 is more than enough) would have hit these limits hard last year. I mostly withdrew using a US-based account I still have because most ATMs in the Philippines, especially, charged enormously high fees. The US-based bank paid the fees for me :slight_smile: But I donā€™t plan to maintain a banking presence in the US forever, itā€™s getting increasingly annoying.

My point? The fees are a pain for some countries (Japan, mainly), but I think fees charged by ATM operators are a bigger problem, honestly. I did learn if you want some USD, you can actually get them totally fee-free from ATMs here in Londonā€¦

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I meant this new change - not using Monzo in general. This new approach to foreign transaction fees is what I was referring to.