Will Monzo Continue To Offer Free ATM Withdrawals Outside the UK?

Not really no but there are loads of threads on here about how people are going on holiday etc and want their cards now and then being directed to the golden tickets thread… as for not using the cards again, well I guess based on them coming here just to get the card for holiday it’s kinda obvious really.

I reckon it would be easy for Monzo to pull this data and if possible share.

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Of course and to be honest it would kind of show how Monzo would hold up after one of their USP’s has gone.

EDIT:

Not gone as such just meant the ease/speed/method of obtaining a card.

Thinking about it, I’ve had may Mondo card for over year and never seen another one in the wild but a few colleagues at work signed up to Monzo at about the time of the ML MSE promotion.

They have specifically spoken about using it as a card on holiday for the cheap transactions. And that’s exactly what I did, too. I used mine before and after going abroad. I suspect some of them may not use it other than abroad.

That’s the beauty of the coral colour, I’ve seen a few in the wild because it catches the eye.

Drunk me spotted one recently at the bar in Cardiff and had to go say hi, I really shouldn’t do that.

Though tbf its encouraging to know when you spot one that its not just people on Holidays who are using them

I have seen a few out and about.

Then your colleagues should be charged for those transactions.

The Current Account is in effect just the same as the pre paid card, but within the financial protection scheme unlike the pre paid - I see no change in what people will use it for - some will convert totally to CA, some will simply transfer whatever they want to spend on Holiday, or as “spends” in UK - Monzo will be aware of who uses what and where and will make a decision on fair usage

Yeah I have done the same, I saw two in the same pub whilst at the bar over the space of a few months… one guy knew some mates of mine and the other was a girl who was in a group who she said a had them.

But as mentioned will people go through the hassle just to sign up for a CA just to get a card… not forgetting that some people may have really bad credit so might fail etc.

bad credit aside - monzo do have an employee for this to help out I think - the only hassle as far as I can see is a passport pic and a video some will have already done this with their prepaid verification :slight_smile:

But when some people hear credit check they might not want to do it for whatever reasons.

Don’t you have to have proof of address as well?

We haven’t officially opened the floor to discussion just yet but here’s a data point to consider from the night COps team. We find that a good percentage of people contacting us late in the night are those who have hit their ATM limits in heavily cash based countries.

Right now, we can’t do too much for most of those users but with both the current account and fair ATM fees, we would be in a good position to look at significantly raising or removing those limits. I personally think that would be a net win for everyone. :slightly_smiling_face:

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Statistically I believe that’s what happens. 70% of the user base use it weekly I think?

EDIT: would someone from :monzo: be able to confirm this? @anon91821566 did mention it at a CA launch event I think

Near enough :slight_smile: it’s 74%

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Is that once a week or multiple times a week as in Monzo is the main card?

Obviously it’ll vary but the criteria is at least once per week.

We don’t know how many users use Monzo as their main card I don’t think.

But the point is, if a large number of users stopped using their card after their 1-2 week holiday, that percentage would be much lower because most users didn’t sign up in the couple of weeks before that % was calculated.

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Thank you!
I think that it would be unfortunate, as someone that has all of their transactions going though :monzo:, if when I went on holiday and wanted to take out say, $100CAD I was charged at the ATM :frowning:
If I withdrew $500CAD three days in a row I would probably expect to be charged however.

I don’t think there should be any charge for ‘regular’ users tbh

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The problem is, how do you define them?
If I sign up for an account and go on a business trip the day after I get my card - should I be charged?

Could you have a system of “unlocking” privileges like x free overseas withdraws? (I think this is great idea as you could then have Level Up Chip animations :smiley: )

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That seem fair. I did sign up just to use the card abroad but have found myself using the card here in the UK instead of my normal debit cards. Love many things about Monzo and wish to support the company. I really want a current account, and cant wait to convert across, hint hint Monzo.

Lee