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

[jzw95]

Thanks nanos for clarifying the reality of trying to avoid fees, and the scale of them in any case.

@nanos

What I would say is that free withdrawals without having to do this balancing act was the only reason I got a Monzo card. […] if there are other providers offering free withdrawal (Starling?) I’ll switch to them. Otherwise I’ll just use the cheapest one available. (shrug)

Fair enough, if that’s your only interest in Monzo (a free travel card), that’s a reasonable decision.

But this isn’t the service Monzo is trying to provide. They’re trying to provide a modern bank and financial control centre which doesn’t surprise people with charges. So I can’t see them trying to tailor the product to the kind of use you’re looking for. It’s expensive and can only be supported by punitive charges elsewhere (either for you or other customers).

I guess the summary is: enjoy it while it lasts and re-evaluate when the current account launches, but don’t get your hopes up that there will be large overseas free cash withdrawals. That’s just not Monzo’s focus or intended main use case.