From comments by Tom and other Monzo staff at events and in the community here are my comments on the likely scenario.
They aren’t going to do SEPA and instead going to get customers using Transferwise thru the marketplace.
As for Free EU ATMs from other discussions in this community and the presentation at an Open Evening it looks like they will charge for EU ATM withdrawals despite Starling, Monese, Fidor etc providing them free in the EU.
It may still be a month or two before they launch the accounts beyond their current small testing group, they still have no announced which pricing option they will introduce for ATM withdrawals but they all look poor choices compared with the competition.
While it makes sense charging for rest of world ATMs when some charge according to Tom £6-7 to end free ATM use in EU will I think encourage use of their friends at Starling.