I used my Monzo card on a Lloyds bank ATM today (for the first time!). All went through fine but I noticed that I had a link on the transaction that went to “Thoughts on ATMs”.
It basically explained that ATMs cost Monzo a significant amount of money, both in the UK and abroad.
I have a few questions:
Does cashback in supermarkets cost the same amount or less?
Is this always going to be the case? Or is this something that will get better over time?
I just thought this was a little bit odd. Does it cost the high street banks the same amount, or are Monzo getting a bad deal?
I don’t take cash out very often but I will try and use it as little as possible and instead use my Lloyds for “just in case purposes”. (I worry about this kind of thing lol).
Sorry if this thread has been duplicated. I couldn’t see anything referring to this specifically.