I did that a while back
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Yes it is Monzo’s fault, come on now has this thread not taught you anything 
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My point is comparing numbers of users is pointless until comparing something similar and the dust has settled.
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I doubt it judging by all the ‘I’m leaving’ posts
Yes that is a shame and I agree BUT unfortunately everyone jumped on the Option 1 vote without a care in the world.
I will be using Monzo as my main account regardless of the fees.
Anyway will all this really matter coz ya know #Brexit n all that…
Please can someone answer the question…
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Well by that thinking, Monzo would have lost users by choosing the 1%/2% option too as some people didn’t like it. Given the (admittedly limited) poll of the Monzo user base that has taken to come to the decision, it’s looks like they’ve taken the option which means they lose the least users.
I don’t like how they’ve chosen to charge for overdrafts, but I’m aware of it and will avoid having one on my CA, using another banks facility for any unexpected expenses, but still intend to use Monzo as my main account.
I think the key thing now is that everyone knows the facts and can make there own decision as to what they want to do.
Just totalled up what I spent withdrawing from ATM’s in Cyprus last month; £203.02 between two of us (who both have Monzo cards). So judging from this, I’d be charged £0.09 if it was carried out on a single card? 
Not a massive issue for me personally, and the savings you make in the Mastercard base rate easily make up for it? I guess I can see how it can be perceived from those using it purely as a travel card though, I even have to admit I’ve sold it to a few of my friends and family on that basis. Still with a mixture of the Monzo ATM allowance, a small amount of foreign cash (from exchange) and obviously the free point of sale transactions; I personally don’t see the fee as a big issue.
For reference I voted for the 1.5% option in the community poll.
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I think it’s a shame that Monzo has chosen to disregard that a lot of people who voted (from the only options Monzo provided) went on to comment suggestions around modifying the voting options; it reflects a degree of inflexibility, and now there’s a backlash.
Personally, I would have prefered - as I requested - that the monthly fee-free overseas ATM allowance be spread across a 12 month period, perhaps reduced from £2400 to £2000 or even £1500, thereby allowing a little flexibility for those of us who would prefer the option of withdrawing more than £200 for any given trip (which is effectively what the limit is), while at the same time reducing the cost exposure of Monzo. As it is, the ‘freeloading’ 18% of users are likely to continue to be the 18% most expensive to Monzo, and everyone else will end up subsiding them still (somehow).
Before turning on each other, it’s worth remembering that Monzo advertised the zero fee overseas ATM withdrawal as a feature to attract users. I think it’s a bit disingenuous of people to call those that signed up for that reason ‘freeloaders’; they’re more likely frequent travellers who wanted to be able to use ATMs at the lowest possible cost, and Monzo advertised zero fees.
If you choose to buy a car because it is advertised as having a sunroof, why shouldn’t those buyers who were attracted by the sunroof enjoy their sunroof, and then complain (a bit) when it’s announced that the sunroof is due to be removed from their car? (I appreciate a car is a product and Monzo is a service, but hopefully you get my point!).
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I agree with you but if I was Monzo, I would have implemented these charges on the current account only, since we are moving away from prepay and we are told by the time the charges are here most people will be on the CA anyway. It would then be easier to make the distinction amd burry these charges and prepay altogether. For people like Daniel it would feel less of an imposed change and more of “having to agree to new terms if wanting to upgrade to the CA”
Minor procedural observation though
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This is more like a car being advertised with a sunroof for a limited time only, then when that time expires lots of people complaining they’d only bought the car because of the sunroof because ‘What Car’ had run an article about ‘Cars with free sunroofs’.
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Then my bad, because when I joined Monzo (nothing to do with MSE), I didn’t see the zero overseas ATM fees marked as ‘for a limited period only’.
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I agree with this, although it would have made the ‘keep the debit card’ thread a bit more fractious…
I can only guess the cost to monzo of the overseas transactions was high enough that it wasn’t a practical option even for the couple of months it’d be relevant.
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Solid move by Monzo.
The people saying “I only used Monzo for free ATM withdrawals abroad” are exactly the customers they don’t want. The 3% will definitely dissuade these users from using Monzo and send them to Starling, which creates a problem for Starling as they’ll haemorrhage money to fees as Monzo did! 80% of costs came from 20% of users.
It shows they’re serious about building a sustainable business that will last, and it will ultimately drive the quality of users upwards.
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At the end of the day I’m just gonna blame this douche for what is going on.
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The entire prepay card was a limited beta, to be killed off when the current account went live. There was no reason to think the offers would stick around, especially once the numbers of users got large enough they didn’t need them as a hook any more. Not charging at chargeable ATMs (since described as a bug, possibly accurately) has gone away too.
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They had based their original pricing on an estimate of 8,000-80,000 customers using the prepaid card not 400,000 so it was clear they needed to reevaluate costs and bring in new fees as they were paying out 1-2% on overseas withdrawals from hundreds of thousands more customers.
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MSE customers are not responsible for the increase in costs we saw 
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How do you know though?
I’d guess that tristan knows more about the breakdown of monzo customers than most 
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True but if there was a referral link it might not have been followed, I never use them I just go straight to source…