After a change in EU regulation on cross-border payments we've decided to remove ATM fees and limits for countries in the European Economic Area (EEA). This means in all EU countries (and a few more) your cash withdrawals are now free! You can see the full list of countries here .

Withdrawals in non-EEA countries haven’t changed – you can still take up to £200 out for free in a 30-day window, then there’s a 3% fee on top of that to cover our costs.

How to avoid paying more when you get out cash on holiday

Remember, when you’re abroad, if you use your debit card to take out cash at an ATM or pay at a shop or restaurant, you’ll usually see the option to pay in either the local currency or in pounds.

When you’re using Monzo, you should always choose to pay in the local currency if you can. If you choose to pay in pounds, it’ll usually end up costing you more.

When you choose to pay in pounds, the shop or ATM will convert your payment using something called ‘dynamic currency conversion’ (DCC).

This means that when they convert your payment, they can choose the exchange rate they use to make the conversion.

But you can end up losing out, as the shop or ATM and their bank will usually offer you a worse exchange rate, and split the profits they make between them.

You can read more about this in our previous blog post .

It’s still free to spend everywhere

You can still spend with your Monzo card anywhere in the world, for free. When you use your Monzo card abroad, we pass Mastercard’s exchange rate directly onto you. We don’t add any extra fees or charges when you pay with your card.

No need to tell us

There's no need to tell us every time you go abroad. We won't block your card and leave you stranded without a way to pay. Just go and enjoy yourself, we'll take care of the rest!