What fees will I pay when using my UK Sterling Monzo account in Saint Vincent, Grenadines and Barbados? I would like to pay US deposits on yacht charter, travel and accommodation before I travel out. When in the Caribbean I would like to use the card to make payments at restaurants, bars, shops and also withdraw US at ATMs… has anyone any experience of doing this and what fees (if any) Monzo charge?
Using Monzo is fee free when using it for card transactions. Ask to pay in local currency so that the card terminal doesn’t perform an exchange that usually has a commission attached.
Withdrawing cash is free up to £200, and is then 3% thereafter, on a rolling month basis.
Plus there may or may not be a fee imposed by the ATM operator, but this would apply to most, if not all, UK bank cards
Thank you for these comments… can the £200 be in separate atm withdrawals and card transactions on the card or can it only be a one off £200 withdrawal?
As many ATM withdrawals as you want, it doesn’t have to be all at once
Just be careful in case the ATM has charges
Card transactions have no fee, just the Mastercard exchange rate