A meaningful subject heading could have been used.
E.G. Your vote is required
It’s not rocket science. In my experience, if it’s tucked away, it’s usually been tucked away for a reason. A little bit like newspaper corrections.
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But I may… be addicted
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Nah. I work in IT, it’s a common term.
We usually refer to people as users, or idiots. 
or lusers (you’re not the BOFH are you?)
With respect, I disagree. Everyone has the same rules but we are not all in the same position because 2 people can withdraw the same amount of cash over a year and incur different fees and that in my opinion is not fair.
I’m not disputing that there are other ways to obtain cash but that wasn’t really the point I was making in my original post. I also agree that there are other things that Monzo offer which are positive (such as wholesale FX rates). I just don’t agree that Monzo can consider themselves fair when they have a price structure which means that someone else is paying fees for the free cash they offer to other users.
Everyone will see it differently though.
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With a very thin line separating the two… 
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Yes we do. If an inflated charge of 3% was not being levied to cover the £200 freebie their actual costs are approx 1% in Europe and 2% in Rest of World so even if some European transactions come in around 0.8% or 1.2% or some Rest of World transactions at 1.8% or 2.2% there is still room for the fee to be lower than 3% be it 2.5% or 2% or in Europe 1.5%
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Entertain me, being stupid here if I am?
We have a free bank account, which offers amazing support, an evolving app, contactless and pretty looking cards, future tech and constant community involvement…. for Free?
So people want to fly around the world, and getting there mate they know back home (MR. Monzo) to keep paying a few £££ each time they want to make a withdrawal on their jollies, just so they can save a few pounds themselves vs the hundreds/thousands they gave to travel agent to go there, who prob made a much higher percentage in ‘profit’ for the service, for a single comparison…
So mr.monzo is giving money out and paying the bills, whilst everyone else is making money? Where is the logic, what exactly are you expecting monzo to do to keep on growing and improving?
**At what point will you ever be happy paying any percentage for any service?
Personally, I do not have a problem with it, you get what you pay for life, and I’m very happy to be a part of monzo!**
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No worries - forums are built for disagreeing, humans are too. I do accept your point, but then if you allowed an annual limit, what about extrapolating that out over 2 years? Sure it’s not ideal, but it’s not exactly a bad solution.
The problem came about because there’s a very small % of users that are forcing Monzo to pay high costs.
I see it like this … Monzo suits me for my lifestyle & travelling currently. If that were to change, I’d reassess the market (as many people are saying they will!) - and make a call then.
It’s potentially similar to how Amex have so many varied offerings for people that might require different things - no one solution will work for everything. It’s just a shame this is a “step backwards” (as many see it), whereas personally I see it as a step forward to a sustainable bank, and not one that will potentially crumble when times are hard(er).
To touch on your point of not being able to call themselves fair, they can. Because ultimately everyone has the same benefits - that are free, but then you have to pay for the extra benefits. It’s the same in nearly all real world scenarios:
- You can buy a sandwich, or you can pay more + get a better sandwich
- You can have a free bank account at any “old bank”, or pay more + get added bonuses, like phone insurance.
- You can pay an annual fee to get an Amex + benefit from extra airmiles, or cashback, or discounts, or concierge service.
- You can have the free version of Spotify, or you can pay a subscription + get the thing without adverts.
It’s about doing business, and being sustainable. Unfortunately, the option that was decided, doesn’t suit your needs at this point in time.
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Unlucky for those of us who travel outside of the first world huh?
To be honest I do not understand the point of this conversation anymore.
Monzo is after all a Bank and not a Travel Card.
If you are traveling somewhere where card payment is widely accepted then jolly days, and if not and you are going somewhere were only cash is accepted then just get a travel card or get enough cash before you leave.
I don’t really get what the fuss is all about !!
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Some of us are happy to pay a % or ‰ for the service, but just want to fairly pay the 1% or 2% it costs Monzo rather than overpay 3% to subsidise others making their £200 free withdrawal that is STILL costing Monzo money.
It is principle, even if I never use the atm withdrawal while abroad, I would prefer Monzo to be open and honest and say this is what it costs us and this is what we will charge than have the farce of a populist poll where the majority vote for an unfair options where the reality of cheaper costs in Europe to Rest of World is not reflected
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Yeah, but there are a lot of other cards for that which will give you fee free overseas ATM withdrawals… for now.
This should give a better idea of what happens behind the scenes, if you don’t already know.
Have not not read all the messages in this thread. But thought I would comment on it
Just saw this email about the change and quite disappointed. I know I will stop using the card once the changes come in. I was ready to move it to being my current account because of the free atm withdraws.
For me that was the only benefit to using a Monzo. Without I dont really know why I would use it over a normal UK bank. Everything it offers is already offered and more by the other banks.
Can someone explain the benefit to still using Monzo ?
I already get free point of sale abroad with my cards and already have the same features with my banks app, so not sure what I am missing.
I saw someone say that it costs Monzo £30 if I take out £1500 at foreign ATMs, so if I use my limit of 3000 a year I am costing you £60. That seems quite a small amount and something you should be able to cover, seeing as you dont have many staff or any branches to support.
Also saw people chatting about cardless societies and this wont effect people that only makes sense in US and western Europe. I have been traveling around this year and every country I have been to cash is king, you cant even pay for hotels on card, so the £200 a month will do nothing.
I was told about Monzo by a number of friends who go abroad alot and the only feature people mentioned was the free ATM withdrawels. I know none of them will carry on using it with out these features.
I just dont see any benefit to using you anymore. I kind of thought Monzo was meant to get rid of all these charges and be a new bank, but it looks like an old bank with less of the features.
I am sure I am missing some key features to using monzo.
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I think if we are costing 
money then they’ll be quite happy for us to chose alternative options 
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Excellent decision, very pleased to hear
a Google Map of where you bought your items or maybe not where you bought your items but at least where their head office is…erm and…a nice bright card that is easy to spot in your wallet
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By that logic if all of Monzo’s 400k users did that it cost £24mil (60*400k). That seems like a pretty big loss to me.
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