Transferring funds to a German bank account

(Ryan Thomas) #1

Hello all!

I’ve been using Monzo (pre Mundo) all year and on various holidays and in the UK and it has become an absolutely indispensable tool!

My question is that I have now moved to Germany and I have two months worth of rent in my UK account that I need to pay my landlord in Euros. However, if I send directly from barclays I am subject to an AWFUL exchange rate and then a large fee on top. So I am curious whether it would be possible to top my card up with the rent, then goto my German bank account and deposit it via chip and pin. Should this work? Or can you for see reason why it wouldn’t? It would be over £2000 in one transaction and I am unsure if that is where the problem would be or not.

Really look forward to your responses and ideas :smile:.

(James Smith) #2

Hi Ryan,

My suggestion would be to withdraw from an ATM in multiple transactions over multiple days so you avoid the ATM limits.

Otherwise, look into one of the specialist international money senders - see this article for some suggestions: . On most of these you will be able to fund the transfer using your UK debit card but I would be surprised if the exchange rate is as good as the Mastercard rate you will obtain through an ATM with Monzo

(Ryan Thomas) #3

Good thinking, I only need to pay on the 3rd of October, so I should have more than enough time to withdraw in cash and deposit. Thank you!

(James Smith) #4

You said you had two months rent, so you will have to do it 1 month at a time to make sure you aren’t limited by the rolling 30 day £1000 limit.


Also remember that you can only withdraw £3000 from your Monzo card in an year. So I would suggest to plan what you wanna do before hand.