How much does Monzo charge to withdraw money abroad?
Monzo offers fee-free ATM withdrawals in the European Economic Area (EEA) for all customers, with limits outside the EEA: basic accounts get £200 free in 30 days (3% after), Plus gets £400 (3% after), and Premium/Max get £600 (3% after). Always choose the local currency at the ATM, not GBP, to avoid extra fees from the ATM operator, and remember that some standalone ATMs may charge their own fees regardless.
If Monzo is your main bank account (you get your salary paid into Monzo) you can withdraw cash for free in the European Economic Area (EEA). Outside the EEA, you can withdraw up to £200 every 30 days for free, then a 3% fee applies. Some ATMs may charge you for using them.
Generally speaking, a debit card or prepaid travel card is the best way to withdraw cash abroad, as long as you choose one that doesn't charge fees for doing so.
Which UK banks do not charge international ATM fees?
Starling Bank, Monzo, and first direct are some of the top UK banks with no foreign transaction fees. There are alternative providers in the UK that offer low-fee international spending with additional benefits like no-markup exchange rates.
No, the main FCA investigation into Monzo's anti-money laundering (AML) controls concluded in July 2025 with a £21 million fine, drawing a line under past failings and prompting significant system improvements, though the FCA continues to monitor the industry, with Monzo now focusing on enhanced compliance as it grows. The fine addressed issues from 2018-2022, and Monzo has since invested heavily in its financial crime framework and technology.
NEW | Monzo Overseas Fees Explained (2025) | Using Your Monzo Card Abroad Without Surprises
Which ATMs are free for Monzo?
Monzo offers free ATM withdrawals in the UK and European Economic Area (EEA) for most users, with limits of £400 every 30 days unless it's your main account or you have a paid plan (Plus, Premium, etc.), which provides unlimited fee-free access. Abroad, Monzo doesn't charge, but you get £200 fee-free every 30 days before a 3% charge kicks in (higher limits for paid plans); always choose to be charged in the local currency to get the best Mastercard exchange rate.
Hidden fees are not a concern with Monzo, but there are some charges applicable in specific situations. For example, while ATM withdrawals in the UK are generally free, there is a 3% fee for cash withdrawals over £250 in a 30-day period if you are a Monzo Basic account holder.
ℹ️ If you have more than one personal account then the limits you see will be shared across them. This means you can withdraw £400 via an ATM from either your personal account, your joint account or a mix of the two but you cannot withdraw £400 from both.
For the best travel card abroad, look for debit or credit cards with 0% foreign transaction fees, like Halifax Clarity or Barclaycard Rewards (Credit), or fee-free debit cards like Starling or Chase for ATM withdrawals, and consider prepaid cards like Post Office Travel Money Card for security and currency loading, but always check for ATM fees, cash withdrawal limits, and local bank charges.
What is the cheapest way to take money out abroad?
To avoid high fees when withdrawing cash abroad, try to use ATMs from well-known banks, as they usually offer better rates and lower fees. Limit how often you withdraw cash to save on fees. You should also check if your bank has partnerships with international banks, as some offer cheaper or free withdrawals.
Convenient and widely accepted: most UK debit cards are accepted at merchants and ATMs worldwide, so you can spend easily without the hassle of carrying large amounts of cash around. Fee-free spending: with Monzo, you can pay anywhere and in any currency, on your debit or credit card, fee-free!
Monzo is a fully regulated UK bank. This means we're authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. They're the organisations that regulate all the high street banks you're familiar with.
What is the best debit card for international ATM withdrawal?
Capital One 360. Adding to Capital One's range of lucrative consumer credit cards, the Capital One 360 Checking Debit Card is one of the best debit cards for international travel. This card charges no foreign transaction fees or out-of-network ATM fees.
