Changes to UK/EEA ATM withdrawal fees

As of the 31st of October 2020, we've introduced a fee for UK/EEA ATM withdrawals for some customers.

Every time someone takes out cash, we pay the companies that run the cash machines. Right now, around 20% of customers make up more than 80% of our cash machine costs. This means that most of our cash withdrawal costs come from a small minority of customers.That’s why we’re asking people who take out lots of cash with us, but could do that for free with their other bank, to contribute towards those costs.

How you're affected

We're introducing a 3% fee if you withdraw more than £250 cash in 30 days in the UK and European Economic Area (EEA). We think it’s really important that you get fee-free cash withdrawals if you’re using Monzo more as a bank than as a spending account. So if you do, you’ll keep getting fee-free cash withdrawals in the UK & EEA. Tap here to see a full list of countries in the EEA (it includes the UK!).

You can find out more about this change via our blog post or Fee Information Sheet below.

Please click here to see our blog post that you might find useful

Please click here to see our Fee Information Sheet that you might find useful