What are banking rates for my current account?

Monzo Chat
1

Hi
Bit of a dumb question… I know I’ve seen the information sometime before I ordered my card but my friend is asking and I can’t find any information.

What are the banking rates for my current account/saving accounts. Can I request different types of accounts right now or if not when will this be available? Just any information on boring bank stuff for my friend.

Thanks!

2

Hey Mark,

At the moment there are no fees for using Monzo for day to day banking. They will charge you for going into overdraft (in case you have access to the preview)

For the preview, the overdraft will cost 50p for each day your account is overdrawn. We’ve also built in a £20 buffer so that you can use £20 of the overdraft with no charges, for as long as you need. Charges will only kick in once you go below -£20 on your account balance. - Overdrafts | Apply for an Arranged Overdraft with Monzo

And then there are ATM fees in case you withdraw cash abroad.

we’ll be introducing a 3% charge on cash withdrawals made from international ATMs, after a free 30-day allowance of £200. - Monzo Help - Understanding fees for using your card

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What do you mean by banking rates? The amount of interest on the account? If so it’s 0%

As for general fee’s, these are outlined here: https://monzo.com/terms/#charges

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There is no saving’s account :man_shrugging:

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there are no savings accounts, only a current account

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