Monzo Cash Withdrawal Limit | How Much Can You Withdraw?

Monzo has become a popular digital bank in the UK, offering a range of banking services with a user-friendly mobile app. One of the key concerns for Monzo users is understanding their cash withdrawal limits, whether in the UK or abroad.

This guide provides detailed insights into Monzo’s withdrawal limits, associated fees, and how users can manage their allowances effectively.

What Is the Daily Monzo Cash Withdrawal Limit?

The daily Monzo cash withdrawal limit depends on the type of account you have. Monzo sets these limits to ensure security and manage costs effectively.

• Personal and Joint Accounts: You can withdraw up to £400 per day from an ATM.
• Business Accounts: Business account holders have a withdrawal limit of up to £1,000 per day, depending on the type of business.
• International Withdrawals: Different withdrawal limits apply based on whether you hold a standard, Plus, or Premium account.

These limits help Monzo prevent fraudulent activities while ensuring customers can access cash conveniently. If you need to withdraw more, consider alternative payment options such as bank transfers, Monzo.me, or card payments.

How Much Does It Cost to Withdraw Money With Monzo in the UK and EEA?

Monzo provides fee-free ATM withdrawals for most customers within the UK and European Economic Area (EEA). However, certain limits apply based on how you use your account.

• Customers Using Monzo as Their Main Bank: Those who deposit their salary and use Monzo for regular transactions can enjoy unlimited fee-free withdrawals.
• Monzo Plus & Monzo Premium Customers: Customers with these premium accounts also receive unlimited free withdrawals in the UK and EEA.
• Other Monzo Customers: Those who use Monzo as a secondary account have a fee-free withdrawal limit of £400 every 30 days. Any amount withdrawn beyond this limit is charged a 3% fee.

These charges encourage customers to use Monzo as their primary bank while allowing occasional users to access cash with a reasonable limit.

What Are the Monzo ATM Withdrawal Fees Outside the UK and EEA?

When withdrawing money outside the UK and EEA, Monzo applies different withdrawal limits and fees based on the type of account:

These limits apply to withdrawals at ATMs abroad. Monzo customers can track their usage in the app to avoid unexpected fees.

How Can I Check My Monzo Withdrawal Limits?

Monzo makes it easy for customers to check their withdrawal limits using the mobile app. To check your limits:

1. Open the Monzo app and navigate to your account.
2. Tap the ‘Manage’ option on the home screen.
3. Scroll down and select ‘Limits’ to view your ATM withdrawal allowances and other transaction limits.

Regularly checking your limits can help prevent issues when withdrawing cash, especially while travelling.

How Do I Withdraw Cash Using My Monzo Card?

Withdrawing cash using a Monzo card is as simple as using a traditional bank card. You can use your Monzo debit card at any Mastercard-supported ATM in the UK and internationally.

• Insert your card and enter your PIN to withdraw cash.
• If withdrawing abroad, be mindful of currency exchange rates and withdrawal limits.
• Monzo does not require customers to notify them before travelling, and there are no additional charges for spending on the card internationally.

Although Monzo supports ATM withdrawals, customers are encouraged to use contactless payments and bank transfers for convenience and security.

What Are the Spending Limits for Monzo Accounts?

Apart from ATM withdrawals, Monzo also sets limits on spending through card payments and online transactions. These limits vary based on account type:

• Card Payments: Customers can spend up to £10,000 per day on purchases, whether online or in-store.
• Contactless Payments: The limit for a single contactless transaction is £100. After a certain number of transactions, Monzo may require a Chip & PIN verification for security purposes.
• ATM Withdrawals: The daily ATM withdrawal limit for personal accounts is £400, while business accounts have a higher limit.

These limits ensure safe transactions while allowing users to manage their spending efficiently.

What Are the Cash Withdrawal Limits for Business Accounts?

Monzo business accounts have higher withdrawal and transaction limits compared to personal accounts. The limits vary based on whether the account belongs to a sole trader or a limited company.

• Sole Traders: ATM withdrawals are limited to £1,000 per day.
• Limited Companies: Business account holders can withdraw up to £1,000 per day from an ATM.

In addition to ATM withdrawals, business accounts also have specific transaction limits:

For businesses handling large cash transactions, Monzo provides the option to deposit cash through PayPoint locations and Post Offices.

What Other Payment Limits Apply to Monzo Accounts?

Apart from ATM withdrawals, Monzo has specific limits on various types of transactions, including transfers and deposits. These limits ensure secure and controlled banking experiences for customers.

• Bank Transfers (Faster Payments): Customers can send up to £10,000 per day to other bank accounts.
• Payments to Monzo Contacts: Transfers between Monzo users are also capped at £10,000 per day.
• Monzo.me Transactions: Customers can receive up to £1,000 every 30 days using Monzo’s QR code payment service.
• Cash Deposits: Customers can deposit up to £1,000 every 180 days at PayPoint or Post Office locations.

These limits are designed to balance convenience with security, preventing fraudulent activities while allowing easy fund transfers.

Can I Increase My Monzo Withdrawal Limits?

Monzo sets withdrawal limits to ensure security and manage operational costs. While some transaction limits can be increased upon request, others remain fixed to protect customers and prevent fraudulent activities.

Limits That Can Be Increased

Certain Monzo account limits can be adjusted based on a customer’s banking history, account activity, and verification status. These include:

• Bank Transfer Limits: Customers who need to send larger amounts via Faster Payments (bank transfers) can request an increase in their daily limit. This can be done by contacting Monzo support through the app. Requests for limit increases are reviewed individually, and approval depends on factors such as account usage, previous transaction history, and security considerations.
• Spending Limits: If a customer needs to make a large purchase that exceeds the standard daily limit of £10,000, Monzo may approve a temporary increase. This is typically granted for verified users who can justify the request, such as purchasing a high-value item or making an important financial transaction.

Limits That Cannot Be Increased

While Monzo allows some flexibility with transfers and spending, the following limits are fixed and cannot be changed:

• ATM Withdrawal Limits: The maximum amount that can be withdrawn from an ATM is £400 per day for personal accounts and £1,000 per day for business accounts. These limits are set to protect users from fraud and reduce cash-handling risks. Unlike some traditional banks, Monzo does not offer an option to request a temporary or permanent increase in ATM withdrawal limits.
• Cash Deposit Limits: Customers using PayPoint or Post Office services can deposit up to £1,000 every 180 days in a personal account. Business accounts have higher cash deposit limits, but these are also fixed and cannot be raised beyond the set threshold.

How to Request a Limit Increase?

If you need to increase a bank transfer limit or spending limit, you can request a review through the Monzo app:

1. Open the Monzo App and go to the Help section.
2. Search for “Increase Limits” and follow the on-screen instructions.
3. If applicable, you may need to provide additional information, such as the reason for the increase, proof of transaction, or account verification.
4. Monzo’s customer support team will assess your request and inform you of the decision.

While Monzo cannot change ATM withdrawal limits, customers can explore alternative ways to access their funds, such as bank transfers, Monzo.me payments, or using their card for direct purchases instead of withdrawing cash.

What Happens If I Exceed My Monzo Withdrawal Limit?

If you attempt to withdraw more than your daily ATM withdrawal limit, or exceed the fee-free withdrawal limit for a 30-day period, Monzo will apply restrictions or additional charges.

1. ATM Withdrawal Limit Exceeded

• If you try to withdraw more than £400 in a single day (for personal accounts) or £1,000 in a single day (for business accounts), the transaction will be declined by the ATM.
• This is a hard limit that cannot be overridden, even if you contact Monzo support. You will have to wait until the next day for your withdrawal limit to reset.

2. Exceeding Fee-Free Withdrawal Limits

Monzo allows fee-free cash withdrawals up to £400 every 30 days in the UK and EEA for standard users. Outside the UK and EEA, different limits apply:

If you withdraw more than your allowed fee-free limit within 30 days, Monzo will charge a 3% fee on any additional amount withdrawn. This means:

• If a Monzo Standard customer withdraws £250 from an ATM abroad, they will pay a 3% fee on £50 (£1.50).
• If a Monzo Premium customer withdraws £700 in one month, they will pay a 3% fee on £100 (£3).

This charge will be automatically applied at the time of withdrawal.

3. Alternative Ways to Access Cash Without Fees

If you are close to exceeding your withdrawal limit or want to avoid additional charges, consider using the following methods instead of withdrawing cash:

• Use Your Monzo Card for Payments – Monzo does not charge fees for spending on your card, whether in the UK or abroad. Instead of withdrawing cash, use your card for contactless payments, online purchases, or in-store transactions.
• Bank Transfers – You can transfer money from your Monzo account to another bank account for free using Faster Payments. If you need cash, you can send money to a friend or family member who can withdraw it for you.
• Monzo.me Payments – If you need to split a bill or pay someone, use Monzo’s Monzo.me feature instead of withdrawing cash. This is a free service that allows you to send and receive money via a link.
• Cashback at Retailers – Some UK retailers offer a cashback service when you make a card purchase. This allows you to get cash directly from a store without needing an ATM.

4. Managing Withdrawal Limits in the Monzo App

To avoid exceeding your withdrawal limit, you can track your cash withdrawals in the Monzo app:

1. Open the Monzo app and go to your account dashboard.
2. Tap the ‘Manage’ option and scroll down to ‘Limits’.
3. Check your remaining ATM withdrawal allowance for the current 30-day period.

By monitoring your limits regularly, you can plan withdrawals and avoid unnecessary fees.

5. What If I Need More Cash Urgently?

If you need to withdraw more than your limit allows and have exhausted other options, you may need to use another bank account with higher withdrawal limits or withdraw money over multiple days.

Some alternative banking options include:

• Using a high-street bank account with a higher ATM limit – Most traditional UK banks allow higher daily cash withdrawals.
• Opening a second digital bank account – Some online banks offer different cash withdrawal policies.
• Using a prepaid travel card – If travelling, consider a travel card with fee-free ATM withdrawals abroad.

While Monzo’s ATM withdrawal limits are relatively strict, its focus is on digital transactions, making card and app-based payments more convenient for everyday use.

How Does Monzo Compare to Other UK Banks for Cash Withdrawals?

Monzo operates as a digital-first bank, which means its cash withdrawal policies differ significantly from traditional high-street banks.

While Monzo offers convenient mobile banking, lower international fees, and seamless in-app transaction tracking, its ATM withdrawal limits are generally lower than those of conventional banks.

1. Daily ATM Withdrawal Limits

Monzo sets a daily withdrawal limit of £400 for personal accounts and £1,000 for business accounts. In comparison, many traditional banks such as Barclays, HSBC, Lloyds, and NatWest offer higher ATM withdrawal limits:

• Barclays – Up to £300-£1,000 per day, depending on account type.
• HSBC – Standard accounts can withdraw £300 per day, while Premier accounts allow up to £1,000.
• Lloyds Bank – Allows up to £800 per day for personal customers.
• NatWest – Offers up to £750 per day, but certain account types may have higher limits.

This makes Monzo’s cash withdrawal limits more restrictive, especially for users who frequently need access to large amounts of cash.

2. Fee-Free ATM Withdrawals

One of Monzo’s advantages is its fee-free cash withdrawals in the UK and European Economic Area (EEA). However, customers who do not use Monzo as their main bank have a fee-free withdrawal limit of £400 every 30 days, after which a 3% fee applies.

Most traditional banks in the UK offer unlimited free withdrawals from their own ATMs but may charge fees for using out-of-network ATMs. Some banks also charge higher foreign ATM withdrawal fees than Monzo.

3. International Cash Withdrawals

When withdrawing money abroad, Monzo has structured fee-free allowances based on account type:

• Standard Monzo users – £200 fee-free every 30 days, then 3% per withdrawal.
• Monzo Plus – £400 fee-free every 30 days, then 3%.
• Monzo Premium – £600 fee-free every 30 days, then 3%.

In comparison, traditional banks often charge fixed fees per withdrawal (typically £1.50 – £5 per transaction) along with a foreign currency conversion fee (2-3%). This makes Monzo a better choice for international travellers, particularly for those who opt for Monzo Plus or Premium.

4. Cash Deposits and Other Limitations

While Monzo allows customers to deposit cash via PayPoint and Post Office locations, it imposes a £1,000 deposit limit every 180 days for personal accounts. Traditional banks, on the other hand, allow customers to deposit cash at branches or ATMs with much higher limits.

Additionally, some high-street banks offer overdraft facilities and credit card cash advances, which can provide greater financial flexibility compared to Monzo’s digital-only approach.

Final Comparison:

Overall, Monzo is an excellent choice for users who rely on digital banking, rarely handle cash, and travel frequently. However, those who require frequent ATM withdrawals, high cash deposit limits, or access to in-branch services may find traditional banks more suitable.

Conclusion

Understanding Monzo’s cash withdrawal limits helps you manage your finances efficiently. Whether withdrawing in the UK, EEA, or internationally, knowing your allowances prevents unexpected fees.

Monzo provides clear limits based on account type, with flexible spending options via bank transfers and card payments. If you require higher limits, consider upgrading to Monzo Plus or Premium.

Always check your Monzo app for real-time updates on your withdrawal allowances.

FAQs About Monzo Cash Withdrawal Limits

How Often Can I Withdraw Cash Using Monzo?

You can withdraw cash daily, up to the £400 per day limit for personal accounts.

Are Monzo Withdrawal Limits the Same for Joint Accounts?

Yes, joint account holders share the same limit of £400 per day.

Does Monzo Charge for Cash Withdrawals?

No fees apply within the UK and EEA unless you exceed your monthly allowance.

Can I Withdraw More Than £400 in One Day?

No, the daily ATM withdrawal limit is fixed and cannot be increased.

Can I Use Monzo to Withdraw Cash Abroad?

Yes, but withdrawal fees apply beyond your fee-free limit.

How Do I Upgrade to Monzo Plus or Premium?

You can upgrade in the Monzo app under account settings.