ATM withdrawal fees

I believe that Monzo should increase the £200, £400 and £600 ATM fee fee limits. They have been static for years and with high inflation these limits are too low I believe.

They should also reduce the fee above these thresholds from 3% to 2%. Other cards like Starling and Chase are free or have lower fees, e.g. Wise.

Just my thought.

I doubt there’ll increase as they class putting your money in and taking your money out without fees as a Plus benefit.



If you deal with that much cash being withdrawn, Monzo probably isn’t the best bank to be using? Don’t get me wrong, it would be nice of there were no limits, but I don’t see it as something Monzo really care about.


You’ve done the maths around this, have you?


I’m not suggesting they are no limits, just that they are increased. In certain countries you need to use cash more unfortunately, so this would help one have all their transactions with Monzo rather than multiple.

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And how long are you spending in those countries for it to be an issue given that Monzo is for UK residents only?


I am confused. UK and EEA ATM withdrawal is unlimited and free.

Doing a lot more than £400 a month of international ATM withdrawals seems like a bad idea. Get a local bank, or bulk buy FX currency. Or maybe don’t buy mango on the street.


Just throwing it out there. Monzo is also free to a limit.

What would one require so much cash for?

You are confused its £250 max every 30 days and then you’re charged 3% fee onwards until it resets


Monzo plus or meeting the requirements

This is for regular folk

No, just uses the account.

It says how they have the limits at the bottom.

“Regular folk” you mean people who barely use their account?


Yeah so its not unlimited and free


If you don’t meet the simple requirements then Monzo shouldn’t have to subsidise your cash habits.


@sgruppetta did you know of higher free limits in UK & EEA if one has regular deposits and direct debits setup?

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Its really not healthy to always be on the side of the business unless you a shed load of shares.

Most people fight for customers not defending a business.

Its up to the business to determine how it makes it money and runs it, as the customers we should be demanding everything and not putting up with mediocrity.

Something like paying in money, and withdrawing shouldn’t even be a discussion. The fact that Monzo adds hoops over what other banks just do for free, and calls them Plus benefits is tacky imo.

I generally agree.

But I think @Revels’ point is that these limits were imposed because folk were freeloading and putting the future of the company at risk.

Given there are a ton of substitutes (Starling, Revolut, high street banks…) I don’t really think this harms the consumer. Indeed, one could argue there would be more harm if Monzo folded because it could no longer afford services like this.

Freeloading is very much taking advantage of someone’s generosity.

How generous they are to let us deposit our shiny coins in their bank to hold and take them back out.

Its up to the bank to impose their limits, we shouldn’t be phrasing it as freeloading, good grief.

But up thread you complained when Monzo imposed limits.

What’s the right answer?

Everyone wants a free ride these days