Hi lovely people of Monzo, thank you for having me here, I am trying to understand how the daily limit increase feature works within the app when you can request the daily withdrawal limit to be increased for the day.
So I have a free Monzo account and my limit is £400 from UK cash machines which I have no problem with. I even understand if I withdraw anything above that within the same day or within the 30 days before my allowance is reset I will be charged 3%. Again no problem here, even the terms and conditions state the following: “For all other customers, the fee-free cash withdrawal limit for UK and EEA is £400 every 30 days. We’ll charge 3% on anything you withdraw over your fee-free limit in 30 days”
The confusion started after I asked within the app regarding the limit increase for an additional £400. So my daily withdrawal limit will be £800, I am aware the additional limit increase is only for the day and at 00:00 will be gone. But what I don’t understand is several Monzo agents informed me, that with the additional limit increase, only the first £400 will be fee free and the other £400 will be subjected to a 3% charge. Am sitting here scratching my head as this whole request to increase the limit for the day seems absolutely pointless, because even without the daily limit increase I can withdraw the £800 and will still be charged 3% for the other £400 I withdraw. Am I missing something here, because regardless of the daily limit increase or not I can withdraw within the same day any amount above £400 with a 3% charge. Please help me understand this 
