Withdrawing Euros abroad


(David) #1

Hi all,

I’m sure this is answered somewhere in the forums but I’ve left it all to the last minute and need a quick pointer in the right direction please…

Flying to Portugal to get married. Wedding planner has asked us to take 4k (euros) in cash for various suppliers.

I’m not comfortable with carrying that much and know I can pay for a few bits on my card.

My partner has a Monzo too so was hoping to get 2k of it out via our Monzo cards. When using the ATMs what do I need to watch out for?

Is there still a single payment limit - sure it was £500?

Is there an overall limit on how much the card can be used over a short space of time- say, a few days?

Any general tips and thoughts would be appreciated.

Cheers!


( related to Monzo CEO, Investor in Monzo ) #2

pre paid card limits - Im an enhanced verified user :slight_smile:

your spending limits will be available in app - on iPhone its card on ‘card’ - ‘settings’ - ‘spending limits’ - I would imagine similar process on funny phones (android :slight_smile: ) as well

max single card payment £2000
max daily top up £3750
max top up in 30 days £10,000
ATM withdrawals
£400 daily
£2000 rolling 30 day limit
£5000 annual limit

Current Account
ATM £400 daily
Monthly ATM £5500
daily transaction limits £10,000

if you’re on enhanced limits on prepaid it would take you 5 days to withdraw 2K cash - give or take on a single card


(Max Walker) #3

So the first question is are you talking about the prepaid app or the current account?

If its the prepaid app its a no no im afraid, there is a £2000 limit for cash withdrawals every 30 days so you’re probably best just having a hunt around and finding a good bureau de change (also there is a daily limit of £400).

If its the current account then again there is a £400 daily limit as well so again possibly not much good.

A word of warning, this is currently a very contentious issue, international withdrawals are the subject of some debate and you posting that you’re about to attempt to take 2k out may not go down particularly well given that you’re gonna be costing monzo at least £20 in atm charges.

Update: If you need the cash fairly quickly, the post office seem to offer a very competitive rate (because you need so much cash) and you can collect within 2 hours, they would be my choice in this situation as they are everywhere and pretty trustworthy.


(Ben) #4

Not sure how soon you are going, but I’d look into Starling. Not sure how much cash you can take out with them but it will help, if you can use both cards. Fee free too.


#5

I’d be very nervous if someone asked me to bring a large quantity of cash.

Do various suppliers not accept card payments?
Can you not pay wedding planner via card who then takes care of smaller payments to suppliers ?


(Graham - Mental health professional) #6

Hi Max

You can make up to six withdrawals per day with Starling, with a maximum total withdrawal per day of £300. The same limits apply in the UK and abroad.


( related to Monzo CEO, Investor in Monzo ) #7

maybe it involves not paying tax due with cash payments ? call me cynical :slight_smile:


(Max Walker) #8

You’ve got the wrong person :stuck_out_tongue:


(Graham - Mental health professional) #9

Ooer, so I did. Sorry Max.

@DavyNix - hope you get sorted :grinning:


(David) #10

Hi All,

Sorry for a very slow reply and thank you all for your input. As i’d left it so late i just went with the safer option of withdrawing cash and holding it very close until I could pay-off the various suppliers.

I don’t think anybody would call you cynical for the comment Iansilversides . Wedding came in at a great price so it wasn’t my place to question!

DN