Why you were charged extra fees for withdrawing abroad
If you were charged an extra fee for withdrawing money abroad, it's probably because you selected sterling (GBP) instead of the local currency when given the option by the ATM. This means that the merchant's bank will apply their own exchange rate, likely with extra fees.
If given the option, always choose to pay in the local currency. That way we'll be able to guarantee you a better exchange rate.
Was this article helpful?
Related articles
- 9 reasons travel is better with Monzo
- Moving abroad
- Tipping in the USA
- Converting your balance into another currency
- Where Monzo cards are accepted
- Understanding your limits
- Understanding fees for using your Monzo card abroad
- Understanding fees for using your Monzo card abroad
- 9 reasons travel is better with Monzo
- Using your card abroad
