Transferring money abroad

[alexs (Alex Sherwood)]

@Babak

I couldn’t find a topic that deals with this issue after current accounts are launched.

Don’t worry there isn’t one

@Babak

could Monzo do a tie up with TransferWise in app to transfer money abroad

Great guess, Monzo are partnering with TransferWise & you will be able to use the integration in Monzo’s app -

Monzo 2 years on - the startup threat big banks still "don't get" - The Memo

As you’ve probably guessed from the title, here’s a new interview with Tom https://www.thememo.com/2017/03/28/monzo-2-years-on-the-startup-threat-big-banks-still-dont-get/ A few highlights £160m spent on Monzo cards to date And then hopefully by end of summer, you will see most people transition across. [to the current accounts] We will have TransferWise (foreign money exchange) plugged in. One of our investors did an awareness study to see how many people knew about all the new s…

when Tom mentioned this at the open office, he said that this would be available when the current accounts launch so I assume (hope) that it will be ready straight away.

@Babak

Would there be commission etc like traditional banks

Based on Monzo’s past record with fees, I expect you’ll only pay TransferWise’s fees. But I could be wrong.

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PS - If you’re wondering about any of the other new functionality for the current accounts, it’s listed here -

What We Know About the Current Accounts & Debit Cards / FAQ (open Wiki)

As the launch of Monzo’s current accounts & debit cards gets closer, I expect there will be more & more posts asking about features & updates so I thought I’d create this Wiki to pull together all of the details that Monzo’s confirmed so far. This Wiki is only intended to cover features that are part of the current accounts & debit cards or features which can only be built once they launch. To see what’s changed after an update to this post (when it’ll appear at the top of the new / updated t…