Buying foreign currency with Monzo

pramsay13

Starling has fee-free overseas spending and cash withdrawals worldwide.

redux

About the only cash I would have used on my last 10 or so trips abroad is a couple of 50 cent coins for motorway toilets with turnstiles where the contactless doesn't work, but this can usually be worked around by asking at the till.

You don't get coins from an ATM anyway.

penners324

Surely if you're buying from Tesco that counts as a UK withdrawal and thus not against the overseas monthly limit?

Takmon

beany_bot wrote: »

Indeed. I haven't used cash in years.
However. Would you travel to a foreign country with literally no cash in your back pocket for emergencies? I'm not chancing it with kids and a pregnant wife.

I have never taken any cash with me when going abroad for a long time now. I have three cards i can use abroad which charge no fees and two of them have no limits on withdrawing cash when abroad.

You can usually find a cash machine fairly quickly once you are there to withdraw cash if you wanted too.

I'm not sure what kind of emergency would need you to have cash on you but not have time to go to a cash machine.

System

redux wrote: »

About the only cash I would have used on my last 10 or so trips abroad is a couple of 50 cent coins for motorway toilets with turnstiles where the contactless doesn't work, but this can usually be worked around by asking at the till.

You don't get coins from an ATM anyway.

Pretty sure the guys on the beach selling sunglasses don't accept cards. :rotfl:

Takmon

beany_bot wrote: »

Yes, less than 3%.
Flying from EDI sadly.

£200 limits on these modern "future of banking" cards is starting to show it's annoyance. £200 cash withdrawal every 30 days Monzo?? Really? It's literally my own money I've loaded on the card. And for Curve. £200 limit a day... of my own money, in the UK. Also ridiculous. This isn't 1994.

It's worth pointing out that the £200 limit is only when withdrawing cash abroad. Purchasing foreign currency while in the UK will 100% definitely not count towards this limit. If it did then alot of people would be charged currency conversion fees by their bank and there would be a lot of complaints.

redux

beany_bot wrote: »

Pretty sure the guys on the beach selling sunglasses don't accept cards. :rotfl:

Maybe, but I'd buy sunglasses in a shop, better chance of good UV protection.

System

redux wrote: »

Maybe, but I'd buy sunglasses in a shop, better chance of good UV protection.

No such thing as UV in Scotland. :j:beer:

System

As advised I'll just take money out when I arrive. Live life on the edge!

eDicky

beany_bot wrote: »

Yes, less than 3%.

Looks like 2.6% margin with Tesco online order, so you're right, but I wouldn't call it 'not even close' to 3%.

You can draw 220€ without Monzo's fees at your arrival airport, although many Spanish banks now charge a fee for withdrawal on a foreign card.

The Monzo 3% fee is only for overseas cash withdrawals in excess of £200/month (to cover the fees they incur), so it wouldn't be charged for the online Tesco purchase. So go ahead if you prefer to arrive with cash in your pocket. Cash pounds can always be exchanged there, of course.