ATM limit

(Bruce) #1

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!

(Paul Harman) #3

3 grand isn’t a huge limit tbf!

(Alex Sherwood) #4

True :slight_smile: as Bruce hinted, the limit’s will be increasing once the current accounts launch :tada:

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.

(Bob) #5

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 For me it’s almost 100% POS; I’ve only ever withdrawn £10 at a UK ATM and that was only because I had just received the card, changed PIN and wanted to try my new card at the ATM.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.

(system) closed #6

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