ATM Fees Abroad: The Community Has Spoken


I’m sensing that this is what it boils down to. Monzo spoke earlier of people who were (ab)using the card to excess.

If I was one of these people maxing out on foreign cash withdrawals then I, too, would be upset. But I’m not and I’m not upset. Seems reasonable to me.

Options for me are:

  1. Stick with Monzo and take the fee
  2. Stick with Monzo but use Starling or another fee-free card abroad
  3. Leave Monzo and move to a different bank

…or I could come on here and whinge about it.

Let’s put this back into context, the fee is only on ATM withdrawals. I think it’s fair to say that Monzo is not the best card for all people in all circumstances but it will suit many.

(Simon Turp) #90

I think it’s a completely fair option for me, I have only occasionally withdrawn over £200 abroad in one trip. And when I do, for the advanced trip reporting and budgeting I think it’d be worth it anyway.

(I'll flag any comment for 50p) #91

I am with MetroBank, I have a current account with Monzo and I now use them as my main account, I (like many other) did actually move over because of the app, I don’t care about free cash withdrawals or free stuff so your assumption with this comment

is not entirely true unless of course you came from MSE.

Like I said if you want free stuff stay with Metrobank.

(James Daly) #92

Some perspective: I joined Monzo last October to make budgeting at University easier (and giving someone my card to go to the bar without worrying about all my money disappearing is pretty sweet).

Last month I started studying in Hong Kong. I’ve not seen any reason to open a local bank account. Monzo works. Whilst I need cash out to top up my Octopus (transport card that they use for everything here), I’ve only taken £600 out in 7 weeks and most of that was in Seoul.

Compared to paying £4 every time I go to an ATM like South Korea and paying 3%, I know which I prefer. And honestly, if you’re treating this like the end of the world when I can live abroad and this change still works out to about 1.5% worse off for me, maybe you need to get a grip a little bit - and stop trying to game the system.

(Sacha) #93

One thing that would be good would to be review this maybe a year down the line.

I suspect the initial charges will cause those customers who solely wanted Monzo for fee-free travel to migrate to Starling so the overseas charges may still lose money. It’s possible the Monzo customer mix may change over time.

Plus, I’d suggest polling in-app. Having a forum poll is a little self-selecting so there’s a risk that those with a vested interest in some free withdrawals are over-represented on the forum?

(Tristan Thomas) #94

We’ll 100% do this — constantly :slight_smile: We’d love to remove ATM fees entirely if we could and will constantly reassess. This change puts us in good stead but we’re always open to reviewing and changing things!

Better foreign ATM withdrawals!
(Naji Esiri) #95

We discussed this internally and completely agree! Something we’ll look at doing next time!

(Tristan Thomas) #96

Yes, also a very good point :slight_smile: We have some exciting plans there!

(Tom) #97

Roughly 80% off all transactions in Germany are conducted in cash

(Tristan Thomas) #98

Emails are going out to all customers to announce this too at the moment

(I'll flag any comment for 50p) #99

I got an E-Mail earlier


First class idea. :+1:

(Ed) #101

Monzo are a financial services institution. I have a mortgage with Virgin. An ISA with Nutmeg. A pension with Standard Life. I do not consider being a customer of any of them akin to being a supporter and whilst I like Monzo in a lot of ways, the relationship is based on terms and conditions - nothing more.

And you neglect option C), which is to continue using Monzo but to no longer see them as being as pivotal a part of your personal financial landscape.

(Drew sanders) #102

All shops & tavernas must now take cards in Greece - it’s the law. I went to mainland Greece this summer and nearly all accepted which is a big change over last 3 years.

(Max Walker) #103

TBH I’m a little sick of this whole discussion, there was a vote and we spoke, end of story until such time that there are new options or facts. It has gone on for far too long and is just holding us back from coming up with new and helpful discussions

Now this is a good idea (apologies to @sacha but I cant quote an in quote quote), I look forward to this as long as the polls are relevant and useful.

Ultimately I think that a large proportion of those complaining wouldn’t be happy with any of the options and are just along for the free ride at the expense of others (moan if you want about that comment but there is costed data on how the few are costing a lot of money). I personally am here for the long run and a better way of banking.

For those of you whining and saying you are off to Starling or Metrobank I will happily wave you off and look forward to the inevitable day when they also have to raise their prices because it is clearly unsustainable but its your choice.

Exactly, I honestly think that for most people this is the best option.

tl;dr: It’s happening so deal with it, for most people it won’t be a problem. If you really want to move to metrobank or starling then good luck with that until they up their prices too, I’d rather have a sustainable awesome bank.

(Ed Morgan) #104

I’ve been to Berlin and Frankfurt twice in the past 6 months, and the only things I had to pay cash for were cigarettes… Every restaurant, taxi, and supermarket I went in accepted card :man_shrugging:

More importantly, there are plenty of services that allow you to either have a multi-currency account, or do free withdrawals. The choice is still there, so I don’t see what the problem is…


Would have been nice to know about this three weeks ago so we could have had some input!

Now there’s zero reason to have a Monzo card and I’ll go back to one of the many options that doesn’t have overseas fees…

(Ed Morgan) #106

The polls and surveys for this have been going on for months…


Can you make this limit per month per currency? This prevents having to worry about not crossing another border before the end of the month, while still encouraging to use cash only when needed.


That’s your prerogative. Monzo is not the best solution for all people in all circumstances.