Its not free though you are the product.
They aren’t running the business on the kindness of their heart.
Which is true. In Europe and US one pays monthly fees for even a basic account, including over each time checking balance in ATM, and withdrawing/depositing cash, and sending each payment. As all of those things do cost.
And ATMs charge a % fee to the bank for the service. So it is not free for the bank to provide these and costs them money.
Hence the limits. Or alternative ways to subsidize things.
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Ive done no complaining so far.
I pointed out they aren’t unlimited and free.
And it has.
If you want to pay in £400+ and take that back out in cash, then do it somewhere else.
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Not arguing there isn’t costs involved.
What I’m pushing is Monzo vs any other UK bank from the customers perspective.
Hoops vs no hoops. Costs vs free
We shouldn’t as a community start having a go at another customer who’s asking a perfectly reasonable request and attempting to defend the actions on behalf of the business.
Telling them to suck it up or go elsewhere isn’t needed.
Majority of UK banks charge 2-3% foreign FX conversion. And other banks used to have high limits but constantly reduce them - i.e. wise, revolut etc.
So, it is an outlier to have no fx, and no ATM fees. Which mozno offers to most people.
Starling is not a mainstream bank, but an outlier.
Mozno has less fees, and higher / unlimited caps, compared to most UK banks.
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It doesn’t though thats the point.
Im struggling find any UK bank (legacy or fintech) or emoney that has any kind of similar restrictions or fees that is as bad as Monzo does on depositing your money and taking it out.
Along with those withdrawal hoops we have
A pound to deposit vs free with other banks
A max deposit limit of £1000 every 180 days vs £20million daily with other banks
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Simply use your account and you’ll have no fees to pay.
Direct debits and a very low deposit requirement (that isn’t set in stone) means that if you don’t hit those, you probably don’t use Monzo as your main account. Then in that case use your other account for all the essential cash withdraws you need.
I fear this conversation has gone off topic. I know about the free limits in the EU which is great, even if you need to meet two requirements.
All I suggested was that the £200 limit should be increased at least in line with inflation, as well as reducing the 3% charge.
For those saying: “bank with someone else” is not helpful at all, and silly to say. The aim of this post was to suggest what can be better to retain people with Monzo. Just a suggestion.
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The pound to deposit - but includes out of hours, late hours, and weekends. Majority of bank branches have closed, or have limited working hours. And often take a long time to get to, or queue. For example, for me to get to a legacy bank it would take more than my lunch brake and I would have to take tube. Whereas I have no queue paypoints near me, hastle free.
High Street banks have undeclared caps on cash deposits. They will freeze your account and also charge cash handling fees. See for example how small businesses and charities have to pay for cash handling, it has to be bagged / wrapped to deposit, and are charged a % fee. Nobody will touch your £20m in cash, daily, for free.
I think you are misguided on how other banks operate. And all the best for you to use them. If you are asking this of Monzo, there must be a reason why you choose to use Monzo over the legacy banks. Hence it is not like for like.
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So you want the withdrawals abroad to change?
How often are you taking out a lot of cash abroad?
Imho this thread should be closed. For majority of usecases the caps, limits and fees are reasonable. If one does not have access to them - it is because they fall within previously abused category. Please check if you can qualify for higher caps via many of the available ways. And otherwise seek to take your high risk, high cost transactions elsewhere. If anyone would take them on.
Also see past blog post on these things
And how major UK high Street banks also have caps, or simply closed their branches - sure unlimited in brach things might be offered, yet no branch insight 
Pay by card?
Freezing your account would be purely down to use.
If you were depositing £10 every couple of weeks and then deposited £20 million they would definitely be checking to see if you had won a cash lottery.
As for convenience nearly every bank has a deal with the post office, and theres no fee for this. None of this giving them a quid to give the bank your money.
None of this ive sold my car for cash and its going to take the next five years paying it into Monzo with the limits.
Let’s hope you sell a cheap car
Stress-free deposits
Personal and joint customers can deposit £1,000 each calendar year free of charge at the Post Office. For all deposits greater than this, we will charge you a fee of 0.7% of the amount over £1,000 that you deposit. Please note, individual limits also exist on each account.
Or just literally any other legacy like Barclays and pay in at the post office. Theirs is £3k per transaction. Pretty much every bank has a deal with the Post Office to provide the service (apart from Monzo).
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This is way off-topic - and it seems like you’ve moved the goalposts.
There’s a legitimate discussion to be had about paying in money to Monzo. But not here.
@sgruppetta has asked a reasonable question. To which my answer would be that it might be worthwhile Monzo looking at the limits for those who use their account as their primary account. I value the service too much to have its financial viability challenged by those who just open accounts for overseas ATM withdrawals.
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I agree this has gone off topic.
Going to South Africa soon… I’ll pay as much as I can by card but cash use is inevitable especially due to frequent power cuts.
Hey everyone 
We’ve increased the fee-free cash withdrawal limit for UK and European Economic Area (EEA) ATM withdrawals from £250 every 30 days to £400 every 30 days.
This means you can take out an extra £150 each month before paying any fees.
Of course if Monzo is your main bank, or you have Monzo Plus or Monzo Premium you continue to get unlimited fee-free withdrawals within UK & EEA
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