It’s a blessing in disguise for me. I’ve always lived in an overdraft and paid many thousands in fees.
Monzo offered me £0 overdraft and I have learned to create my own overdraft by making a pot with a couple of grand in it that I can use when I’m short, and instead of paying through the teeth for the facility I’m earning interest.
I know this doesn’t answer why Monzo are so tight on overdrafts but I just thought I’d share one way of making this work out to your benefit.