Travel Accounts

Hi Guys,

I recently read the post by Monzo over fees for travelling abroad. I regret not replying at the time cause now I can’t find the post.

However, my idea lives on! It’s fairly simple. For those high flyers who travel a lot with their Monzo card rather than absorb the fees charged, Monzo creates the travel account. It’s a set premium paid to Monzo by the customer to use their cards abroad. We then set a limit of transactions that card can do in say a one month rolling period, i.e. you can use your card 10 times a month in a foreign country. Should you go over that limit, you absorb the fees charged to Monzo and Monzo charge you for doing so, this way if you know you’re going to be using your card more often abroad you’ll be better of paying a premium to avoid charges.

Obviously, a balance will need to be struck. I used my monzo card whilst on holiday and part of that was the no fees for doing so. We are aware it isn’t viable for Monzo to keep absorbing the charges, so change needs to happen, I think this idea could benefit everyone, the infrequent traveller still benefits from fee free travel, frequent travels don’t pick up the slack and avoid charges, Monzo see the cost of the fees go down due to premiums paid by Travel Accounts and Those who are abusing the card for travelling rather than help build a sustainable bank for the future will pay heavily…with their live!! I joke.

Please let me know what you guys think?!



The debates on international fees are all related to ATM withdrawal fees. They do not refer to POS transaction fees which are relatively low and apparently absorbable. There are no plans to introduce fees for POS transactions and Monzo encourages these transactions over ATM withdrawals.

An announcement regarding ATM withdrawal fees is to be made soon:


There’s the post!

Sorry I didn’t realise my post was unambiguous, I was talking about ATM fees only!

I don’t think there would be much of an appetite for such an account. As a provider how much would you charge per month for this travel card? As a user how much would you be prepared to pay?

Bear in mind that in some countries it costs up to £5 to make an ATM withdrawal, so 10 withdrawals a month could cost up to £50 to the provider.


It would take a bit of community outreach to get the correct figures but I’m sure it could be worked out, I’m sure if people saw the accounts were to help sustain Monzo, you’d find agreeable people.

Doesn’t this just add complexity for the consumer? I quite like the simple and transparent approach.

It’s when companies start introducing different charging structures (think tariffs for energy companies) I start to become cynical that they’re trying to do over the customer.

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It has been said in some parts of Rest of World the cost to card provider is £6-7 for a withdrawal so it could even be costing them £60-70 if someone withdraws money twice a week on a month long trip. Though in some ‘cash intensive’ economies travellers may be withdrawing more frequently than that if POS availability is poor

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I can see accounts branching out in the future as people want different things from Monzo, I think it can be done in a transparent way. I’m sure the great minds in Monzo HQ could incorporate my idea into existing accounts. So your limits are different to mine, should you opt for a travel account. You don’t have to take a travel account to travel, i just thought it could help with the issue and help those that travels the most. If you are like me and go on holiday once a year for a week or two, this account won’t be for you.

Don’t make me think.


Or people could simply see that the account on offer didn’t meet their criteria and go elsewhere? That keeps a single account ans is simple for everyone to understand.

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It would still be the same account, you wouldn’t need a card or anything, which is what the current proposals are i believe, except you’d pay to avoid the charges.

Surely then, when Monzo implement their new structure for ATM fees, if they don’t match your criteria are you not just gonna go elsewhere?

Just have a Starling card if you really need to take cash out of ATMs abroad. Monzo for POS and everything else.

If you bother going to the trouble of getting a Starling card for cash withdrawals you may as well use it for other things as well. Then Monzo instead of being everyone’s primary account just becomes a secondary account and Monzo will not make money that way. Best to treat the recent poll as advisory and then just go ahead and pick the option Monzo feel is best for their business :wink: