Monzo - ATM fee chat

You can withdraw up to £200 in any number of transactions.

This will answer; ATM Fees Abroad: Asking the Monzo Community to decide pricing

Me too, I’m not very happy with a single withdrawal - that’s not exactly flexible

It’s a single withdraw if you are on Prepay but everyone is being transferred to Current Account so if you decide to go for Monzo CA you can do multiple withdrawals up to £200. And also note that changes are from 18th of December until then everything stays same.

You can read the details here on Monzo blog;


OK, thanks for clarification, the current account card will be fine, although I don’t have mine yet.

If I take out euro from an ATM in UK, will I be restricted to the £200 limit for free withdrawals?

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Yes I would assume so as a non-GBP transaction. What’s the official Monzo line on this?

Though it will be different when the prepaid is replaced by the current account.

No that’s free - I asked a couple of weeks ago.


@WillP79 is right :blush: We charge based on geography, not currency (for the current account). You’ll be able to withdraw from UK ATMs for free :+1:

Bear in mind that some ATMs do charge their own fees for usage, but this isn’t something we’d be charging you ourselves.

It’s a bit different for the prepaid card since we can only actually charge based on currency with those, however by the time this change rolls around, I’d expect a lot of you to be on the current account anyway, so the chances of it affecting you are quite slim!


Thanks for the clarification

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One thing that I don’t think has been asked, at least in all the threads I checked, is how this £200 limit will actually be applied… in particular because it’s impossible to actually withdraw exactly £200 in a foreign currency, you’re always plus or minus a bit.

So, the question boils down to how the 3% of charged on transaction beyond the free limit. Is it on just the amount beyond the free limit (like a progressive tax) or on the entire transaction that take you beyond the £200 limit?

Some examples to hopefully indicate what I’m saying:

  • £190 transaction only - total cost £190, hopefully clear
  • £210 transaction only - total cost £210.30 or £216.30?
  • £100 and £110 transactions - total cost £210.30 or £213.30?
  • £110 and £100 transactions - total cost £210.30 or £213.00?

Presumably, the fairest option is for all three of these last cases to result in a total cost of £210.30, i.e. charging the 3% on the £10 over the limit.

The official announcement ( seems to suggest this case as it refers to it as an allowance. However, the wording in the screenshot above (Monzo - ATM fee chat) suggests the most expensive choice in each of my examples (not sure if that’s just for the prepaid).

Can anyone from Monzo answer my question?

@RichardR @MickeyD might be able to help?

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it is on the amount over the £200 not the whole amount…but that on your £200 free allocation in the 30 day rolling period…you do understand once you have withdrawn that £200 free allocation if you withdraw a similar amount with the 30 day period the £200 free allocation does not apply and you will be charged on the full amount

Day 1 withdraw £250 in foreign currency and 3% charged on £50
Day 29 withdraw £250 in foreign currency and 3% charged on £250


Hmmm, where did you get this “30 day rolling period” from? The screenshot and the announcement linked to above both just refer to “per month”, with the announcement also using the phrasing “per calendar month” when clarifying the prepaid card from that point.

I still don’t think it’s clear in the cases where the 1st transaction is under the allowance and the 2nd transaction goes over the allowance.

It is (correct me if I am wrong) calendar month on prepay and rolling period on the full upgraded current account


If your first transaction is £175 and your second transaction £200 then your first transaction used up £175 of your allowance leaving £25 so the 3% is charged on the £200 transaction less your remaining £25 allowance so it is only charged on the £175.

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Here are some clarifications on this previously given by :mondo: staff


Tbh, I thought over this aswell after some time I realised that even if they do implement the fee it will still be better rates and money worth than banks who offer no fees too but have hidden fees within or bad exchange rates.

As a student I think monzo is great for me travelling as when I go Europe the card should work as expected and my time in Japan to be in February I have nothing to fear as most places will accept card but if they don’t cash withdrawal will not take that much of a hit in your balance.

My advice. Plan ahead figure out where or who will not accept card and then take out appropriate cash amount, if it goes over the 200 it’s still better than getting bad exchange rates. Also to add, you mostly won’t even need cash depending on what countries you go Europe especially are starting to adopt card readers at stools etc. So you should be fine and don’t let the fee bother you as monzo needs a bit of that :moneybag::yen: too.

I hope you know that Monzo also works very well right here in the UK :uk: :smirk:


Yeah I am well aware but this post if for abroad so i wanted to add that input :slight_smile: