Can You Use Monzo Abroad? | Fees, Limits & Tips

Travelling abroad requires a reliable and cost-effective banking solution, and Monzo has become a popular choice among UK travellers. But can you use Monzo abroad without hassle? Monzo offers international transaction features, but understanding its fees, limits, and best practices is essential for avoiding unexpected charges.

This guide provides a detailed breakdown of Monzo’s international usability, including ATM withdrawal limits, transaction fees, and country-specific considerations.

How Does Monzo Work for International Transactions?

Monzo is a UK-based digital bank that operates on the Mastercard network, making it widely accepted for international transactions. Unlike traditional banks, Monzo does not have physical branches, and all its banking services are managed through its mobile app.

One of Monzo’s key advantages is its real-time currency conversion, which uses the Mastercard exchange rate without additional markup.

This makes spending abroad seamless and cost-effective compared to many traditional banks that impose high foreign exchange fees.

Monzo’s debit card supports chip-and-pin, contactless, and online payments, making it versatile for various international transactions. Additionally, Monzo allows users to freeze and unfreeze their cards instantly, helping travellers manage security risks while abroad.

What Are the Fees for Using Monzo Abroad?

One of Monzo’s key advantages for travellers is its lack of foreign transaction fees. Unlike many traditional banks that charge a percentage-based fee for spending in other currencies, Monzo allows you to pay anywhere in any currency fee-free.

All foreign transactions use the Mastercard exchange rate without any additional markups, ensuring that you get a competitive rate without hidden costs.

However, while card payments are entirely free, cash withdrawals have certain limits. If you stay within these limits, withdrawals are also free, but exceeding them incurs a charge.

These limits depend on whether you use Monzo as your main bank and whether you are in the UK & European Economic Area (EEA) or outside it.

Breakdown of Monzo’s International Fees

• “Monzo is my main bank” means you use Monzo as your primary account for income deposits and regular payments.
• “Monzo is not my main bank” applies if you only use Monzo occasionally, without making it your main account.

These limits reset on a rolling 30-day basis rather than at the start of each month. For example, if you withdraw £150 on the 2nd of the month and £50 on the 5th, the allowance for these withdrawals resets on the 2nd and 5th of the next month, respectively.

Additionally, some foreign ATMs may impose their own fees, which Monzo does not control. Always check before withdrawing to avoid unnecessary charges.

What Are Monzo’s ATM Withdrawal Limits Overseas?

While Monzo allows travellers to withdraw cash abroad, limits apply depending on whether you are in the UK & European Economic Area (EEA) or outside the EEA. These limits also differ based on your account type and usage.

Standard Monzo Account

If Monzo is not your main bank:

• UK & EEA: You can withdraw £400 fee-free every 30 days, after which a 3% fee applies.
• Outside EEA: The fee-free limit drops to £200 every 30 days, with a 3% charge thereafter.

If Monzo is your main bank:

• UK & EEA: Withdrawals are completely free with no limits.
• Outside EEA: The fee-free allowance remains £200 per 30 days, after which a 3% fee applies.

Monzo Plus Account

• UK & EEA: Withdrawals are unlimited and free.
• Outside EEA: You can withdraw up to £400 per 30 days for free; beyond this, a 3% charge applies.

Monzo Premium, Perks & Max Accounts

• UK & EEA: Withdrawals are unlimited and free.
• Outside EEA: Withdrawals are free up to £600 per 30 days, after which a 3% charge applies.

How the Rolling 30-Day Allowance Works?

Monzo’s withdrawal limits operate on a rolling 30-day basis, meaning they do not reset on the first day of each month. Instead, they reset exactly 30 days after each withdrawal.

For example:

• If you withdraw £150 on the 2nd of the month and £50 on the 5th, your withdrawal allowance for these amounts resets on the 2nd and 5th of the following month.
• If you make another withdrawal that takes you beyond the limit before these dates, Monzo will apply the 3% withdrawal fee.

Additionally, if you have a joint account and a personal account, the withdrawal allowance is shared across both. This means that if you reach your withdrawal limit on your personal account, you cannot reset it by using a joint account card.

Avoiding Additional ATM Charges

While Monzo offers competitive withdrawal limits, it’s important to be aware that some international ATMs charge their own fees. These fees vary depending on the country and ATM provider, and they are not controlled by Monzo.

To reduce unnecessary costs:

• Look for fee-free ATMs, which are more common in some countries than others.
• Consider withdrawing larger amounts less frequently to stay within your fee-free allowance.
• Use card payments instead of cash whenever possible, as they are always fee-free with Monzo.

Understanding these limits and planning withdrawals strategically can help minimise costs while using Monzo abroad.

Can You Use Monzo Flex Abroad?

Monzo Flex is a “Buy Now, Pay Later” (BNPL) service that allows users to split payments into instalments. While Monzo Flex works for online and in-store purchases in the UK, its international functionality is more limited.

• Foreign transactions may work, but they depend on merchant acceptance.
• Payments are converted into GBP, meaning users may face exchange rate fluctuations.
• Interest rates apply depending on the repayment plan chosen.

While Monzo Flex may be usable for some international purchases, it is not designed specifically for travel, and using a regular Monzo debit card is often a better option.

Can You Use Monzo in America?

Monzo is widely accepted in the United States for card transactions and ATM withdrawals.

• Most major US retailers, restaurants, and hotels accept Monzo cards.
• ATM withdrawals are free up to Monzo’s limit, but local ATM providers may impose their own fees.
• Chip-and-pin and contactless payments are widely supported.

However, some older US ATMs still rely on magnetic stripe transactions, which Monzo does not support. This may make withdrawing cash difficult in certain locations.

Can You Use Monzo in Turkey?

Travelling to Turkey with a Monzo card is convenient, but there are a few important considerations:

• Many Turkish ATMs charge withdrawal fees, even when using Monzo.
• Contactless and card payments are accepted in major cities, but rural areas may rely more on cash.
• Mastercard exchange rates apply, ensuring a fair currency conversion.

Since some Turkish ATMs impose high withdrawal fees, it may be more cost-effective to use Monzo for card payments rather than frequent cash withdrawals.

Can You Use Monzo in Thailand?

Thailand is a cash-heavy economy, but Monzo remains a practical option for travellers.

• Thai ATMs typically charge around 220 THB per withdrawal, regardless of the bank used.
• Card payments are accepted in major hotels, shopping malls, and restaurants, but small vendors often prefer cash.
• Monzo transactions follow Mastercard’s exchange rate, ensuring competitive currency conversion.

To minimise ATM fees, it is advisable to withdraw larger amounts at once rather than making frequent small withdrawals.

Can You Use Monzo in Morocco?

Monzo is usable in Morocco, but travellers should be prepared for some limitations.

• ATMs in Morocco accept Monzo cards, but they may impose withdrawal fees.
• Many local businesses prefer cash transactions, especially in smaller towns.
• The Mastercard exchange rate applies to all Monzo transactions, making it cost-effective for purchases.

It is advisable to carry backup cash in Moroccan dirhams in case card transactions are not accepted in certain locations.

Can You Use Monzo in Australia?

Australia has a well-developed banking system, and Monzo is widely accepted.

• ATMs in major cities allow free Monzo withdrawals up to the limit.
• Contactless and card payments are commonly used.
• Exchange rates follow Mastercard’s standard rates, with no additional markup.

Monzo is a reliable travel card option for those visiting Australia.

Can You Use Monzo in Japan?

Japan has a reputation for being a cash-heavy country, but Monzo remains a viable option for travellers.

• ATMs at 7-Eleven and Japan Post branches accept Monzo withdrawals.
• Many traditional stores prefer cash transactions.
• Mastercard’s exchange rate applies with no added Monzo fees.

Carrying some cash is recommended, especially when visiting smaller shops or rural areas.

Can You Use Monzo in Dubai?

Monzo works well in Dubai due to the city’s modern banking infrastructure.

• Widely accepted for card payments at hotels, restaurants, and shopping centres.
• ATM withdrawals are available, but some banks may impose fees.
• No additional foreign transaction charges apply beyond Monzo’s standard limits.

Monzo is a convenient choice for travellers visiting Dubai.

Can You Use Monzo in India?

Travellers can use Monzo in India, but there are a few restrictions to keep in mind.

• Some Indian ATMs accept Monzo, but withdrawal fees may apply.
• Digital payments are growing, but cash is still widely used.
• UPI transactions (a popular Indian payment system) are not supported with Monzo.

Using Monzo for card transactions is possible, but carrying an alternative payment method is advisable.

Can You Use Monzo in Spain?

Spain is one of the most Monzo-friendly destinations for UK travellers.

• Contactless payments and ATMs are widely available.
• Monzo does not impose extra foreign transaction fees.
• Withdrawals are free up to the account limit, with a 3% charge beyond that.

Monzo functions almost exactly the same in Spain as it does in the UK, making it an excellent choice for travellers.

Can You Use Monzo in Canada?

Canada supports Monzo transactions with minimal issues.

• Most major ATMs accept Monzo, but some may charge withdrawal fees.
• Contactless payments are widely used across the country.
• There are no additional Monzo charges beyond the standard withdrawal limits.

Monzo is a solid choice for UK travellers heading to Canada.

Monzo Usage Abroad: Country-Wise Overview:

This table provides a quick overview of where and how you can use Monzo abroad, helping travellers plan their spending efficiently.

Conclusion

Monzo is a reliable travel companion, but understanding its fees and limits is essential. By using Monzo strategically and combining it with alternative travel cards, you can maximise savings while travelling abroad.

FAQs

Is Monzo better than Revolut for travel?

Monzo is better for everyday spending, while Revolut offers multi-currency support and better ATM limits.

How do I enable international payments on Monzo?

Go to the Monzo app, navigate to settings, and ensure foreign transactions are enabled.

Can I withdraw cash abroad with Monzo without fees?

Yes, up to the free limit (£200 for standard accounts, £400 for Plus, £600 for Premium).

Does Monzo offer travel insurance?

Yes, Monzo Premium includes travel insurance benefits.