Hi just a quickie, does it cost Monzo money when I withdraw cash from a UK ATM?

Yes but no sure how much.



Yes it costs them a significant amount proportionately to the value of your withdrawal and they do not have their own network of ATMs to subsidize the cost of withdrawals by customers of other banks using them. Using your debit card at point of sale in a shop is much better for Monzo as it avoids the charges they have to pay each time you take out cash.

It think it’s a percentage that’s charged by the ATM provider so the more you draw out the more it’s costs Monzo.

It would be good if in the app you could see how much it costs Monzo to operate your own account each month.

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I thought (and I am probably wrong) it is a combination of a fixed amount charge and a percentage based charge

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Hmmm, not too sure to be honest but that would make sense

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25p per withdrawal?


Yes. That was what I thought for Link but not all Link machines are directly connected to the MasterCard network so in some ATMs non-Link cards like Monzo do not work, so I was thinking about how the big banks charge rather than the independent (Link type) operators you find in corner shops.

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Thanks all, I need to take out quite a few K over the next few months, so I’ll use my legacy bank


This is another point in which going FullMonzo is not appropriate yet as we all need cash at some time as there are plenty of places that don’t take card still.

Pay & Display machines in Weston-super-Mare, for example, take cash only at POS, or you can pay a surcharge by Phone & Pay methods.

You can still use your Monzo card to withdraw cash, it’s just better for you & Monzo if you can avoid it.


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