Foreign transfer fees?

Monzo Chat
1

Hello, brand new member here, apologies if this has been answered before but I can’t seem to find an answer specific to my query.

My sister lives in Australia and I live in England. We sometimes transfer money to one another using CurrencyFair. I have a sterling bank account and hers is in AUS Dollars so we normally send money in one currency and it comes out the other end in another. To do this we pay a currency conversion fee and then a transaction fee (I think! - I get easily confused when it comes to numbers).

My question is:

a. To send money to eachother if we both have Monzo accounts - would we be charged a transaction fee? (This being distinct from a currency conversion fee)
b. Can she get a Monzo account if she is not a UK resident?

Any help would be greatly appreciated.
Thanks.

2

Monzo current accounts are only available for UK residents currently. My are I mean will be when released

3

Direct Monzo to Monzo transfers have no fees.

Sadly not. You currently must have a UK address to open a Monzo account.

1 Like
4

Thanks for the replies :slight_smile:

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