Monzo cannot replace my other bank, £3,000 Annual ATM limit?


#11

Yep, one of the huuuuge selling points for me was the 0% fees. However, i understand they need to add a fee to keep it sustainable. Option 3 is probably the worsst option for me (i voted 2), but i think it still works out a tad cheaper than Nationwide. Still going to be good though, i love the app, the fact you can temporarily freeze your own card, and that they do not upmark conversion rates. Once i get the current account this will save me loads, as i get paid in USD, which converts to sterling and then converts into the local currency while travelling.


#12

there are no monthly or annual limits (currently) with Starling


( related to Monzo CEO, Investor in Monzo ) #13

woo hoooo sounds like a no brainer for the far flung gap year, business and ex pat cash users at Monzo :slight_smile:


#14

Bizarre. why would they obfuscate the process of getting the limit increased to 5k. Anyway if the current account negates this issue then it probably doesn’t matter too much


#15

Definitely is for me, i ama location independent worker, i am reluctant to use the hip digital nomad label as it conjures up images of vegan yoga advocates with man buns :slight_smile:


( related to Monzo CEO, Investor in Monzo ) #16

I would think Monzo wanted to see how you use your card - whether you are someone who goes abroad a year to far flung places, never makes any transactions in the UK and only withdraws cash - costs Monzo a lot of money so wouldn’t have the enhanced verification limits


(Alex Sherwood) #17

People using the card for fraud is potentially another factor.


(Ed) #18

This is interesting. When I queried these limits when abroad I was told it was due to the back end bank imposing them. Was that a point-blank lie?


#19

I’m not sure, but i am still in the UK and the limit is 3k


(Adam) #20

Which limits… the prepaid or current account?

Believe Wirecard impose the limits on the prepaid system as the card is actually issued by them


(Ed) #21

I have not been offered a current account. Probably because I ask annoying questions on the Monzo forum :stuck_out_tongue:


(Alex Sherwood) #22

I’m sure that, that was a joke but to avoid any confusion, for users who are new to the site - that’s not a thing. And also, you’ve only posted twice on one other day before today :slight_smile:


(Ed) #23

So what?!

I came on the site after receiving an unsolicited forum digest email.


(Alex Sherwood) #24

It looks like you might have misinterpreted my previous comment. I wasn’t implying anything negative here -


(Ed) #25

Bizarre. Utterly bizarre.


(Bruce Davies) #26

Ed, you implied you were being disadvantaged by asking annoying questions; Alexs was pointing out you hadn’t posted often enough to be annoying (and you wouldn’t be disadvantaged even if you had done so). Try not to be overly-sensitive - I interpreted Alexs’ post as being supportive and reassuring, not a dig at you. We’re generally much more friendly and supportive of each other here. Hope that helps (a little).


(Ed) #27

Actually I used an emoticon to show that I was kidding. Try not to be so defensive! :smiley:


(Bruce Davies) #28

Bizarre, utterly bizarre! :grinning:


(Colin) #29

This is the answer to the question posed and should be just pinned at the top.


(Tom ) closed #30

I would agree this thread has come to an end here.

New current account usage limits are coming, with preliminary details here: Monzo cannot replace my other bank, £3,000 Annual ATM limit?

If you’d like to continue a wider discussion about limits in general, try this topic Withdraw Limits - Current Account