Information about our Personal Current Account Services. All UK cash withdrawals and payments are free of charge and the daily ATM withdrawal limit is £400 in the UK. App-based Monzo Bank has announced it is to scrap or severely limit free overseas ATM withdrawals on its popular prepaid card, and has launched an online poll asking users to vote on a number of different charging options. It said: 'We included at least one direct debit in our definition of "relying" on Monzo because we see paying bills from Monzo as a key indicator that we're more than a spending account.'. Revolut’s standard account offers the best exchange rate of the three when it comes to debit card spending, but also comes with a limit on UK and overseas ATM withdrawals. … 3. If you’re still on the Monzo Prepaid Mastercard® Debit card at the time, you’ll only be able to make one free withdrawal per calendar month, up to £200, due to the restrictions of our card processor. 188. I don't have access to my phone right now and I'm having a minor panic. But while the coronavirus lockdown may have left millions who may have banked in-branch with little choice but to go digital, millions of people and businesses across the country are still reliant on cash. Monzo is set to become the first major UK bank to charge its customers to make withdrawals from an ATM, amid fears Britain is increasingly going cashless. The UK was already becoming an increasingly cashless society, with figures published in June revealing fewer than a quarter of all payments were made using banknotes and coins in 2019. This limit is £200, after which a 2 per cent fee is added. You'll be able to withdraw £400 from ATMs each month while abroad, double Monzo's standard allowance of £200/mth. From 31st October 2020 there will be some new charges for free Monzo customers. General chat about all things Monzo, from the app to the current account. From 31 October, customers who take out more than £250 in 30 days will be charged 3%. Monzo cash withdrawal limit in the UK. Looking for a better bank? The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. The limit mentioned above is reset after a month from the moment of making the first withdrawal. when customers go into their overdrafts or withdraw cash abroad above the fee-free limit. If you've used your free allowance, there's a 3% charge on withdrawals after that. You can withdraw cash for free at any ATM accepting Mastercard, but as with any bank, there are cash withdrawal limits: Daily: £400; Over 30 days: £5,500; Fee-free outside EEA over 30 days: £200; What about cash deposits? Japan). Hey guys, I need to withdraw several thousand pounds from my Monzo account in the next 2-3 days, but I just remembered that there is probably a cash withdrawal limit that will botch my plans. There aren’t many fees attached to owning a Monzo account, which makes it a favourable account for customers who have been stung in the past when spending. If you are overseas you can take out £600 every 30 days without paying a charge. 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