MSE ATM Charges article

(Hugh) #1

Money Saving Expert have produced this article:

Whilst I guess it’s good that Monzo is getting press, especially very quickly after the email/blog were published, I can’t help but feeling that MSE haven’t quite got the point. For instance, they imply that it’s just a change to the prepaid card (it’s not) and they don’t mention that Monzo is actually just passing the costs on and why it is having to do so.

In the past I understand they’re pitched the card essentially as a foriegn cash card which may have something to do with it…

(Herp Derp) #2

And this is why there should be charges…


I think MSE is now losing its editorial advantage of being independent. IIRC, Martin Lewis sold it to MoneySuperMarket.

Reading recent output, MSE appears to be plugging big-six energy companies couching recommendations in language along the lines of “brands you recognise” whilst suggesting that people don’t trust new players like Bulb and Tonik, even though the latter are often a better deal for the customer.

(Herp Derp) #5

Yes he did


Thaks for confirmation, I was doing it from memory despite knowing how to use the internet (was being lazy).

Yep, I get the sense that MSE is blagging too many deals with big companies. Where blagged means MSE has entered into a partnership with certain firms to promote them in return for a kickback and portraying this to readers as though they’ve somehow got a cheeky advantage and one over on the big company. It’s disingenuous and treats readers like mugs.

(Max Walker) #7

I totally agree, the article wasn’t fantastic (as usual with MSE articles just an excuse to draw people to their comparison pages).

There is however no need to be a dick about it like that comment poster on MSE, It kind of bothers me the number of people who can’t seem to fathom that they are being subsidised and they should at least pay their fair share. I can’t wait until Revolut decide that they need to up their charges.

To be honest I’m wary of any kind of site like MSE, whilst they claim to be trying to save you money it often seems to be more about getting them commission and that can include not showing you the best deals
If they don’t get a cut.

My top tip: use a cashback site like Quidco or topcashback and keep all the referral and affiliate fees for yourself


The issue you have is that the Mondo/Monzo card has been promoted as a prepaid travel card with zero added fees over the MasterCard rate. MSE did a big push on Monzo in the weekly newletter a few months ago before the summer holidays. It’s how many people found out about it.

When you’ve been told it’s a prepaid, low fee card for holiday spending, why would you use it when you get back to the uk? And it’s understandable they’re getting antsy about possible fees. It’s because they don’t care or understand the bigger Monzo picture.

(Max Walker) #9

Oh I agree, I think it’s a bit hypocritical for MSE to be pushing the card as a prepaid travel card then question it having to charge when they quite possibly are the reason the charges skyrocketed anyway because they caused a surge in travel users.

I think all of the information was there, monzo is great at discussion and selling their mission (which isn’t a travel card) so to all those who have absolutely no intention of using it in the uk (and letting the rest of us subsidise it) I’m afraid I have little sympathy because it’s a great product if they would only see it right in front of them. A note to those who have used it as a travel card first and then discovered how it’s awesome even in the uk then good for you, it’s great to have you on board :slight_smile:

Ultimately it’s a great current account with very good international rates not a travel card.

I’m also pretty sure if they all decide to move to Revolut or somewhere like that for their travel spending the same thing will happen there when Revolut realise what it’s costing them :stuck_out_tongue:

Worth noting that when I reference travel spending I’m generally talking about expensive ATM withdrawals


N26 had a problem with excessive foreign ATM use. Their answer was to use their discretion and close tens of thousands of accounts where users incurred them excessive ATM charges. Their justification being the card is primarily intended for POS use and too much ATM charges breaches the spirit and intention of the account


Why do people want to withdraw cash all the time? This is 2017.

I’ve just been abroad and came back with leftover Kronor because I used Monzo everywhere and didn’t actually need cash.

(Max Walker) #12

Wow, really?
I mean that’s a fairly awful way to treat your customers but I guess I can kind of see how it got to that if people were unwilling to pay their way and ruining it for the rest.

Surely it’s far better as with monzo to give your users costed options that means everyone only pays for their own usage. They’ve openly said they won’t profit from them so I really don’t see the issue.


yep, withdraw cash and use it in a place with a POS and then ask Monzo developers if they can recategorize their ATM withdrawal as Food and Drink or Entertainment :joy: or withdraw cash in UK and then demand to be able to pay it back in at PayPoint :joy:

(Max Walker) #14

I honestly don’t know, apart from anything else I hate carrying too much cash around with me.

Personally when I go away If I need cash I’ll buy a few dollars or whatever here or there at the bureau de change when I get paid each month then when it comes to it I’ve got cash and I’ve not noticed a lump sum go out.

(Max Walker) #15

Anyone else looking forward to this vote and comments on ATM charges being over so we can stop bickering about percentages and who should pay?

(Hugh) #16

Charges are coming - deal with it and if you are one of these people that needs loads of cash, get it before you go instead of expecting Monzo to subsidise your holiday.

(Max Walker) #17

All of the yes! If I could give this more than one like I would

(Drew sanders) #18

It will be interesting to see what the final result is. MSE did sell it as a travel card so perhaps once things calm down then a way forward can be made.
Wonder who MSE will latch onto next?
It does seem to be who they promote has to make changes - supercard comes to mind.

(Max Walker) #19

I honestly don’t find MSE that useful, the whole site just seems like a thinly veiled advert for something to me.

I don’t know how supercard ever thought they were going to make money because they were basically just a device for absorbing foreign transaction fees.

(Herp Derp) #20

100% agree! Charge everyone!

(Francesco) #21

Never found MSE to be accurate or reflecting my situation. Just another attention seeking website.