Hoping I won’t hit the limit, but good warning… fingers crossed the current accounts come out asap
Erm…out of the box suggestion to Monzo:
How about transferable limits?
i.e. If a spouse or a friend has used up most of their withdrawal limit but the other hasn’t used much of their’s they can click on their limit and enter a user name to transfer part of their limit to!
3 grand isn’t a huge limit tbf!
True as Bruce hinted, the limit’s will be increasing once the current accounts launch
It doesn’t really make sense to use Monzo for lots of ATM withdrawals though (as you don’t see any transaction data etc.), unless you’re travelling abroad & here’s why the limit applies for that -
as well as helping reduce Monzo’s losses from fraud.
I think it very much depends on how you use your Monzo card. For me it’s almost 100% POS; I’ve only ever withdrawn £10 at a UK ATM and that was only because I had just received the card, changed PIN and wanted to try my new card at the ATM. I always use my First Direct debit card for UK ATM withdrawals.
When abroad I still prefer using my Monzo card at POS, however having a little local currency, especially when off the beaten trail is still useful, so pretty much all my ATM withdrawals are made abroad. In this way I can stick within limits, although I accept that others who travel more often and for longer periods would benefit from the £5000 advanced limit, which is available to those who meet the criteria.
As Monzo prepay provides all services free of charge, and at Monzo’s expense, I really don’t have an issue with the limits imposed while we wait for current accounts.
This topic was automatically closed 180 days after the last reply. New replies are no longer allowed.