Travel Money Help

hungryhaggis

Good Afternoon,  I would like to advice on travel money, I have just signed up for a monzo card, is this a good way to use travel money overseas. Thank you in advance!

Neil49

Yes it is, but just be aware that the vast majority of atm's overseas will impose a charge for the withdrawal of cash. This is outside the control of Monzo (or the vast majority of other banks). 

Additionally, always ensure that you are being charged in the local currency. Never select the option to pay in GBP or for them to do the currency conversion. Monzo will control the exchange rate the conversion process. 

Barkin

May or may not be relevant, but I think Monzo have a (quite small) limit on ATM withdrawals in some countries (USA?) with their free account. 

la531983

Barkin said:

May or may not be relevant, but I think Monzo have a (quite small) limit on ATM withdrawals in some countries (USA?) with their free account. 

Its in all foreign countries, you can withdraw £200 out free (well, Monzo wont charge but the ATM might), any more than that and Monzo charge 3%. And then there would be any ATM fees on top.

The OP hasnt said they want to withdraw cash, though.

Barkin

la531983 said:

Barkin said:

May or may not be relevant, but I think Monzo have a (quite small) limit on ATM withdrawals in some countries (USA?) with their free account. 

The OP hasnt said they want to withdraw cash, though.

They haven't said that they don't want to either, which is why I thought it worth mentioning. 

TELLIT01

la531983 said:

Barkin said:

May or may not be relevant, but I think Monzo have a (quite small) limit on ATM withdrawals in some countries (USA?) with their free account. 

Its in all foreign countries, you can withdraw £200 out free (well, Monzo wont charge but the ATM might), any more than that and Monzo charge 3%. And then there would be any ATM fees on top.

The OP hasnt said they want to withdraw cash, though.

Is there a limit on how often £200 withdrawals can be made (assuming in a country where Monzo apply a limit)?

Barkin

https://monzo.com/legal/fee-information/

NoodleDoodleMan

Chase is the better option IMO - £500 daily withdrawal limit up to a maximum of £1500 per calendar month.

eDicky

Yes, Monzo is a decent choice for travel, ideal MasterCard exchange rate without fees or markup (select payment in local currency if choice offered), limited fee-free ATM withdrawals as mentioned but card payment is widely available in most popular destinations. However it's wise not to rely on a single source of funds, have at least one other fee-free card such as Chase or Starling Bank.

hungryhaggis

Thank you everyone for your comments it is very much appreciated.
I had not planned to use the atm if I can help as I will have a set amount of cash on me. 
@eDicky I have got another card today from TUi - I might look at the a CHASE account ty