This document informs you about the fees for using the main services linked to the payment account. It will help you to compare these fees with those of other accounts.
Fees may also apply for using services linked to the account that are not listed here. Full information is available in the Terms and Conditions.
A glossary of the terms used in this document is available free of charge.
Monzo Premium account services
Maintaining the account: £15 per month
Total annual fee £180
Total annual fee £180
Refusing a payment when you don't have enough money: £0
Allowing a payment when you don’t have enough money: £0
Payments (excluding cards)
Direct Debit: £0
Standing Order: £0
Sending money within the UK: £0
Receiving GBP: £0
Receiving euros: 1% currency conversion fee (capped at £1,000) for payments you receive in euros and converted to pounds.
We convert any payments you get in EUR to GBP before the money appears in your account. We’ll charge a 1% fee that’s capped at £1,000 for doing this.
The payer will need your IBAN (International Bank Account Number), which you can find in your app.
The vast majority (but not all) of these payments will come from bank accounts within Europe and through the SEPA Credit Transfer scheme.
Receiving a payment in a foreign currency that is not GBP or euros: 1% currency conversion fee (capped at £1,000) for payments received by you and converted to pounds. Effective as of 30 January 2024.
We convert any payments you get in these currencies to GBP before the money appears in your account. We’ll charge a 1% fee that’s capped at £1,000 for doing this.
The person paying you will need your IBAN (International Bank Account Number), which you can find in your app.
You may have to pay other costs, taxes or charges related to your Monzo account, which are outside of our control and not charged by us. For example, other banks may charge you for sending money to your Monzo account.
Cards and cash
Issuing a debit card: Free
Cash withdrawal in pounds in the UK: £0
Cash withdrawal in foreign currency in the European Economic Area (EEA): £0
Cash withdrawal in foreign currency outside of the European Economic Area (EEA): First £600 in a rolling 30-day period free, 3% after that
Debit card payment in pounds: £0
Debit card payment in foreign currency: £0
Overdrafts and related services
Arranged overdraft: Your interest rate is set out in the Overdraft Agreement
Unarranged overdraft: 33.4% per annum (variable) which is equivalent to a rate of 39% EAR (variable)
The monthly cap on unarranged overdraft charges for your account is £15.50
Other services
Cancelling a cheque: Not applicable
Package of services
Travel money outside of the European Economic Area (EEA) 3% charge after £600 fee-free withdrawal limit in a rolling 30-day period
Services beyond these quantities will be charged separately
Information on additional services
Information on fees for services exceeding the quantity of services covered by the package of services (excluding fees listed above)
International money transfer - Wise: See https://wise.com/ for details
Ordering a replacement card: We'll charge you £50 each time you replace your metal card.
We won't charge you for replacements where we're responsible.
We won't charge you for replacements where we're responsible.
Ordering a replacement card abroad: We’ll charge you the £30 international card delivery fee.
We'll charge you £80 (£50 to replace your metal card and the £30 international card delivery fee).
We’ll charge a fee for replacing cards which have been lost, stolen or misused. These fees cover both the cost of replacing and delivering the card. This doesn’t apply to circumstances where we’re responsible. We’ll take the fee from your Monzo account as soon as you order the card.
We'll charge you £80 (£50 to replace your metal card and the £30 international card delivery fee).
We’ll charge a fee for replacing cards which have been lost, stolen or misused. These fees cover both the cost of replacing and delivering the card. This doesn’t apply to circumstances where we’re responsible. We’ll take the fee from your Monzo account as soon as you order the card.
Cash deposit: 5 free cash deposits each calendar month, then £1 per deposit.
View this in the regulator's standardised format.
