"Thoughts on ATMs"

[garete (Gareth)]

@anon44204028

a pop up dialogue in the app asking for donations to pay for the coffee in their office

Did we mention you look nice today?
.

@tom

Roughly speaking, a year’s worth of UK ATM withdrawals for an average user might cost Monzo £1. ATM usage within the EU costs another £1 per user. Outside-EU usage costs about £8. And that’s averaged across the entire Monzo userbase of hundreds of thousands of people. In reality, these outside EU ATM costs are driven by a very small fraction of users, some of whom are each costing Monzo £100+ per year in ATM costs alone.

If Monzo are having a problem generating £1 per user, that’s not a good sign.

My thoughts on ATMs: don’t tell me to think about using UK ATMs. I’m taking cash out for a (good) reason.