ATM Limits


#1

Hi All,

Anyone know what the ATM limits are?

I have been unable to withdraw cash for several days now, with the message Limit Exceeded coming back in the app.

The terms state £250 / day or £3,000 / year (I think) - I’m definitely within both of these so guess the terms can’t be up-to-date…


(Rika Raybould) #2

Are you within or outside of the limits before identity verification? If you are running in to those limits, it’s worth poking support via. in-app chat to see if your identity verification succeeded properly.

Also checked and wow, an annual limit of £3,000? Also doesn’t list the monthly £1,000 (post-verification) limit. I’d consider these terms a bit out of date to say the least.


(Rob Schlitt) #3

I tried to draw £250 last week from an ATM only for it to be declined (limit exceeded). So I tried again for £200 and it was happy with that. I withdrew a further £100 the following day. So I think my limit is £200 per day.


#4

Oh, that’s probably it - thanks. I am verified, but I think have probably hit the monthly limit so I expect that’s it


(Nigel Jones) #5

I think I’ve missed something here. what’s identity verification in terms of mondo?


(Adam) #6

Its part of the KYC (know Your Customer) process. I believe they are just ensuring the details you provided during signup match a credit report with the same details (Name, Address and DoB). Assuming they where able to do this, you would have passed.

If they couldn’t complete this, then you would need to send photocopies in.


(Tom ) #7

I’m trying to draw out cash in Portugal. Anyone able to give me some insight on this?

Daily limit is allegedly £250
Monthly is £1000
Yearly is £3000

I’ve drawn out £170 today (€200), and I’m up to £875 for the month and £2350 for the year.

Mondo app is reporting a withdrawal of an additional €80 exceeds my limit - but that should only take it to £233 for the day.

Also - I’m slightly perturbed by the £3k yearly limit I’ve just found out about as I’m not far off that. I’ll have to stop using Mondo for ATM withdrawals in the UK in that case to save up for foreign trips.


(Adam) #8

Something for the in-chat to look into.

I know their terms are out of date and are being corrected


(Rika Raybould) #9

As @walderston said, it’s kind of unknown to most of us right now. Do remember that the daily limits are based around some kind of rolling 24 hour frame rather than dates.


(Tristan Thomas) #10

The daily limits should be correct and we’re updating the terms to reflect the current state for other limits. At the same time, we’re also looking at getting the limits raised :slight_smile: For sure, after the beta they’ll be much higher!


£3k annual ATM limit whilst travelling
£1000 monthly ATM Limit
Monzo.me