You will still be able to use your card for point-of-sale transactions and online purchases without any additional fees. Some merchants dont keep their systems up to date, so we occasionally see situations where our cards arent recognised. This tells you basic information about the destination such as the current exchange rate and reminds you of what the fees are (if any) for the destination. Home Tips Money Monzo: The Benefits of Using Monzo for Travel. but it's good to see validation of Monzo's policy for using wholesale rates and no fees taken out for ATM withdrawals and the actual rate of exchange visible. Find out more about the benefits Monzo Plus and Monzo Premium offer. Let me know in the comments! Cards have enjoyed many years as the major method of paymentbut then contactless cards started to thrive. Your email address will not be published. Yes you can! Here are some of the benefits of using Monzo when you travel. Monzo also created the app with the customer in mind. So, what would be my advice if youre planning a trip and trying to decide whether to download Revolut or Monzo. What is Coliving? Youre sharing a Monzo Joint Account with someone who has done at least one of the above. Best Bank for Travelers - Starling vs Monzo Card Review Then theres the added process of instructing your bank of your upcoming trip, hoping they got the memo and didnt strike that payment you made at a restaurant in Switzerland as fraudulent. It has come in handy so many times when we unexpectedly need access to money and dont have any WiFi or data to top up at that time. . 29% yearly interest (variable). Im someone who still flirts between the two, trying to forcibly change that behaviour to Samsung Pay for those train rides and meal outings as I transition. My account took less than a week to activate, and I received the card shortly after. Easy as 1, 2, 3. Freeze Your Card if You Lose It Monzo's Welcome Intros When You Arrive in a Country Track Spending While Travelling Where can you use your Monzo travel card Is Monzo the best Travel card? This is equivalent to the rate of interest you'll pay if you're overdrawn for a year. The purchase of the meal was reflected very soon after I tapped it on my Monzo pre-paid MasterCard. Gone are the days of carrying bundles of cash when you travel abroad, as we now live in quite a cashless world. After a few statements like this, I was determined to find a travel card with a 0% foreign exchange fee. This factor ensures that you will receive a competitive rate that responds to the live market. theshillito (Peter Shillito) 4 June 2019 09:12 108. There are no fees abroad for Starling even on cash withdrawals and the exchange rate is very good. Im also keen to start using their stock trading system, and by having the paid plan I wont have to worry about commissions. Recently in 2021 Monzo have now partnered with Wise (previously TransferWise) to offer you international transfers from directly within the app. Monzo is a current account and Monzo users who sign up for the current account are issued a Debit Mastercard. Monzo is a debit card, but if youre thinking of getting a credit card, make sure youconsider the pros and cons. As well as using my Monzo bank card abroad, Ive been using my card in London for some of the benefits listed above, and its made managing my money a little more fun. We passMastercards exchange rate directly on to you, and dont add fees or additional charges. Card usage Monzo cards work all across France, both at point-of-sale machines (eg. Though they seem to offer a very similar service, there are a few key differences between Monzo and Revolut that might make them better suited to your personal use. So definitely search for your destination before travelling! You can use your Monzo card anywhere in the world, for free. Youve received a student loan payment into a Monzo account in your name over the last rolling 8-month period. Revolut vs Monzo | Fees, Exchange Rates & Speed Compared After that, well charge 3%. If you're Full Monzo or have Monzo Plus, outside of the EEA, you can take out up to 400 for free every 30 days. At the same time, there are plenty of stories online about both Monzo and Revolut where users have been unable to recover stolen funds.. About the Travelling with Monzo category. Whenever you buy something with Monzo, we automatically put your payment into a category, like Transport or Groceries. Download the Google Pay app from the Google Play Store, Follow the Google Pay apps instructions to add your Monzo card, Theyll send you a code via text to check your account, which youll need to enter. That being said, Starling is well behind in offering any additional features and Cazzy and I never really grew very fond of it. Monzo review | Read review of the card, current account and app We don't charge any fees for paying by card when abroad Weve quickly adapted to the rise of FinTech and how it is evolving the way we view money. Opening a Monzo account and using it day-to-day is completelyfree! Monzo Golden Tickets were a way to invite your friends to Monzo when Monzo first launched. In case you are looking for a travel card to use while abroad. Its a refreshing change from the traditional banks. Check out Monzo Flex to spread the cost of pretty much anything. Find out more. Help Articles; Money worries . The limit for ATM withdrawals varies depending on which country youre in. What is Monzo app? . The bank has a strong following and is rated as 'Excellent' on Trustpilot with 4.3 out of 5.0 stars, with over 27,000 reviews. Information about our Personal Current Account Services, 250 fee-free every 30 days (3% afterwards), 200 fee-free every 30 days (3% afterwards), 400 fee-free every 30 days (3% afterwards), 600 fee-free every 30 days (3% afterwards). If you do need to order a replacement card outside of the UK, then this is 100% possible with both Revolut and Monzo., With Monzo its free within the UK and they charge a flat 30 fee to ship outside the UK (sent with DHL tracking). Great travel-related perks include the chance to access free travel insurance included within your plan, as well as the chance to get free lounge passes with flight delays.. There are so many benefits that you can expect when using your Monzo card abroad. Have you used a Monzo card or something similar? Weve made it really easy for you to open and move money into a Savings Pot that earns interest, without needing to go through the painful admin that comes with opening a new savings account elsewhere. Or if you want to access all of the other cool features, like cryptocurrency and stock trading, then Revolut is the obvious choice. Then after that, theyll charge 3%. 2023 One Tech Traveller. (adsbygoogle = window.adsbygoogle || []).push({}); But the way we think about money when travelling abroad, hasnt progressed nearly as far as what we see here: Exchanging our money for traditional notes for wherever were travelling to. Yes. Both Monzo and Revolut have advanced safety features in place to help prevent this., Namely, the ability to freeze your card at any time and reactivate it at the click of a button. We just passMastercards exchange ratedirectly on to you. Depending on how you use Monzo, you can make fee-free cash withdrawals up to a certain limit. Use without a PIN for purchases under 30, you can use it as and when like normal. So if you are wondering, does Monzo charge abroad fees? the answer is yes, but its better than the rest. Notevenathrowaway1 1 yr. ago. No minimum deposit Interest paid monthly Ts&Cs apply, No need to tell us youre abroad . Existing customers can get help via the app. Your allowances are shared across any accounts you have. With Monzo, its easy to freeze your card within the app as there is a Freeze card option. Authors As of writing, it seems to me that Monzo has done a better job of diversifying these offerings. You can use Monzo to do the basic things youd expect from your traditional bank, as well as much, much more. Read more. Simple, easy and fabulous. Well, there is. Put some money in straight away (or wait till payday if you like ). Our community have crowdsourced wikiabout how to use Monzo in specific countries. Please check official websites for most up to date information. iOS devices are prioritised for development and later released on Android. Cash handling for general expenditure was less about handing over fiat money, and more about swiping our cards at the till. But in America (and lots of other countries), ATMs use the magnetic stripe on the back of your card to dispense cash. To ship within the UK, Revolut charges 4.99.. Just remember to pay in the local currency! However, if I had to pick one that I prefer, it would have to be Monzo, purely because of the overdraft feature. Any fees you may have to pay are partly based on whether youre in the European Economic Area (EEA) or not. So if you have any other tips, post them there for others to see! If you made a third withdrawal before those dates, then we'd charge the withdrawal fee. In Monzo you can do this using Pots. And even though it's an app, you can get help from real humans, whenever you need it. I also like that, if you enter the wrong access pin to the app, you actually get blocked from accessing the bank account and have to verify your identity in order to regain access., With Monzo, this requires you to take a picture of your photo ID and record a quick video of you saying something, in order for the Monzo security team to verify it's you who is trying to access the app. They clearly don't know that Monzo's good for that use, so they're asking if they need to get another card. It takes only a few minutes. Monzo vs Revolut: Which is Best For Travel? [Full Comparison] Here are a few of the top perks you can enjoy. Monzo bank is currently only available to UK residents, but they hope to expand to other countries eventually. As you can see from the detailed description above, Revolut has clearly put a lot of work into the paid plans. if you still have Monzo questions that are left unanswered, head to ourFAQsor theSimple Questions Threadon the community forum. Monzo makes it easy by instantly sending a notification of every transition to your phone, which means no more waiting for a few days for the transaction to clear like regular banks. But which one is the best choice? Can I use Monzo in France? Monzo Review: Should you make the switch? 900600 635 Bytes Currency France uses the Euro (). Thats another international headache to deal with. UK residents aged 16 or over can apply for a Monzo account through the app, which is available to download at the Apple App Store and Google Play Store. A blog focusing on fabulous European city breaks for busy professionals, and helpful London/UK travel tips. I will get more golden tickets over time and will go through the list to send a Golden Ticket as much as I get them. Forex 1. 0% Foreign Exchange Fee When Using a Monzo Card Abroad, Mastercard Exchange Rate = Monzo Exchange Rate, Monzo's Welcome Intros When You Arrive in a Country. Note that this doesnt always work 100% and is sometimes thinking youre home when youre still abroad, but when it does wirj its pretty cool. Starling will give you fee-free cash withdrawals on any amount (Monzo is limited to 200 per month before they start charging you) and I wouldn't trust Revolut for anything. Pay for flights, hotels, meals and more with a credit limit you control. If you like the ability to separate your daily spending from the rest and fully control how much to spend (and top up) with easy visibility then Monzo is worth a shot. Then, in the Summary tab in your app, you can see what youve spent on each category this month. Our customers think so! kharma45 4 yr. ago. You can make purchases in stores, restaurants, and online without being charged any extra fees. Safe travels! These huge added fees were happening every time I would travel with my standard debit card. If Monzo is your main bank account, withdraw unlimited cash for free in the European Economic Area (EEA), and up to 200 per month for free outside the EEA. However, just went to sign up - I need my physical card before the end of next week.