If my dad was to continue to use Monzo with the 1% ATM charge, does that make it more expensive or cheaper than just going to the Post Office and doing money transfers? I perfectly understand that it’s a better way of doing things than just taking cash, however, my calculations suggest that he will be £10 worse off over €450 than just withdrawing it from the Post Office online. Is this correct?
I’m not disputing that Monzo must charge to remain viable (and I support this policy), but I’m struggling to work out how to convince him to stick with it. He sees charges - any charges - as some kind of evil, when he doesn’t notice that he may be getting far more stiffed elsewhere but doesn’t realise it. This is a guy that bought £70 perfume from an airport when the exact same product was £46, with free shipping, from a reputable online retailer. If I could point out that the overall service is worth sticking around for, he might buy it, but this idea of customers having a real, direct input into the bank’s policies goes over his head.