Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • MSE Callum
    • By MSE Callum 5th Jan 18, 11:55 AM
    • 148Posts
    • 82Thanks
    MSE Callum
    MSE News: Monzo introduces overseas ATM fees
    • #1
    • 5th Jan 18, 11:55 AM
    MSE News: Monzo introduces overseas ATM fees 5th Jan 18 at 11:55 AM
    App-based bank Monzo has introduced overseas ATM fees – so you'll now be charged 3% on cash withdrawals while abroad, after a free 30-day allowance of £200...
    Read the full story:
    'Monzo introduces overseas ATM fees'

    Click reply below to discuss. If you haven’t already, join the forum to reply.
    Read the latest MSE News
    Flag up a news story:
    Get the Free Martin's Money Tips E-mail
Page 1
    • poppy10
    • By poppy10 7th Jan 18, 4:08 PM
    • 5,921 Posts
    • 7,163 Thanks
    • #2
    • 7th Jan 18, 4:08 PM
    • #2
    • 7th Jan 18, 4:08 PM
    Bait and switch
    This is why it is hard to trust "challenger" banks like Monzo
    Signature changed by MSE ForumTeam
    • eDicky
    • By eDicky 8th Jan 18, 3:44 AM
    • 3,249 Posts
    • 1,523 Thanks
    • #3
    • 8th Jan 18, 3:44 AM
    • #3
    • 8th Jan 18, 3:44 AM
    My belief is that Monzo had no particular intention to be regarded as a 'travel' card at first. Until late 2016 there was no visible mention on their website about being fee-free overseas, and I had to ask on their chat about fees and exchange rates. Soon after, they began publicising their usefulness as fee-free for overseas travel.

    So it's likely that they never originally factored in the substantial cost of all the users who subsequently made lots of fee-free overseas ATM withdrawals. Their only revenue, the interchange fees etc when the card is used for purchases, was simply not enough to cover the unexpected cost and survive, without introducing the foreign fee-free withdrawal limit.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,270Posts Today

7,584Users online

Martin's Twitter