Part of the Monzo UK guide.
The standard Monzo current account is free to open and free to use for everyday UK banking. Here is a complete breakdown of every fee Monzo charges as of September 2026, so you can see exactly what you will and will not pay.
Monzo Account Fee Summary (September 2026)
| Fee type | Free | Extra (£3/mo) | Legacy Plus (£5/mo)* | Perks (£9/mo) | Max (from £19/mo) | Legacy Premium (£15/mo)* |
|---|---|---|---|---|---|---|
| Monthly fee | £0 | £3 | £5 | £9 | £19+ | £15 |
| UK & EEA ATM | £400/30 days free, then 3% (unlimited if main bank) | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Outside-EEA ATM | £200/30 days free, then 3% | £400/30 days free, then 3% | £400/30 days free, then 3% | £600/30 days free, then 3% | £600/30 days free, then 3% | £600/30 days free, then 3% |
| Foreign transaction fee | 0% | 0% | 0% | 0% | 0% | 0% |
| UK bank transfers (Faster Payments) | Free | Free | Free | Free | Free | Free |
| International transfers (via Wise) | Wise fee applies | Wise fee applies | Wise fee applies | Wise fee applies | Wise fee applies | Wise fee applies |
| Overdraft (if eligible) | 19–39% EAR | 19–39% EAR | 19–39% EAR | 19–39% EAR | 19–39% EAR | 19–39% EAR |
| Cash deposit (Post Office or PayPoint) | £1 per deposit | £1 per deposit | £1 per deposit | 3 free/month, then £1 | 3 free/month, then £1 | £1 per deposit |
*Plus and Premium are closed to new customers since April 2024; both rise to £6/month and £17/month respectively from 14 October 2026 for existing subscribers.
Fees correct as of September 2026 — always verify current figures at monzo.com, as Monzo has revised its plan names, prices, and fee structure more than once in recent years.
Account Monthly Fees
Free account — £0/month
Includes a full UK current account (sort code and account number), a UK debit Mastercard, Monzo Pots, Faster Payments, Direct Debits, standing orders, instant spending notifications, and basic budgeting tools. No hidden charges, no minimum balance.
Monzo’s current paid plans — Extra (£3), Perks (£9), Max (from £19)
Each adds progressively more: higher interest on Pots, unlimited UK/EEA ATM withdrawals, a larger overseas ATM allowance, and — on Max — worldwide travel and phone insurance plus airport lounge access. For a detailed comparison including the legacy Plus and Premium plans still held by some customers, see Monzo Plus vs Premium.
Legacy Plus and Premium
Plus (£5/month, rising to £6 from 14 October 2026) and Premium (£15/month, rising to £17) have been closed to new sign-ups since April 2024. Existing subscribers keep their benefits, but anyone opening a Monzo account today chooses between Extra, Perks, and Max instead.
UK and EEA ATM Fees
Monzo’s free account gets £400 fee-free every rolling 30 days across the UK and EEA (EU countries plus Iceland, Liechtenstein and Norway), then 3% applies. This becomes unlimited if Monzo is registered as your main bank account, or if you’re on any paid plan. For a full breakdown including how “main bank account” status is assessed, see Monzo ATM withdrawal limit.
Overseas ATM Fees (Outside the EEA)
Monzo’s overseas ATM fee structure varies by plan:
| Plan | Outside-EEA free allowance (30 days) | Fee above limit |
|---|---|---|
| Free | £200 | 3% |
| Extra / legacy Plus | £400 | 3% |
| Perks / Max / legacy Premium | £600 | 3% |
For a full travel account comparison, see Monzo vs Starling vs Revolut. For detailed guidance on using Monzo abroad including worked examples and tips, see Monzo travel spending.
Foreign Transaction Fees
Monzo charges 0% on all foreign currency card purchases — transactions are converted at the Mastercard exchange rate with no additional fee applied by Monzo. This applies to all account plans.
The Mastercard exchange rate is very close to the mid-market (interbank) rate. You will not pay more than the published Mastercard rate. As with any card used abroad, you should always pay in the local currency at card terminals — selecting “Pay in GBP” (dynamic currency conversion) uses the merchant’s exchange rate, which is typically 3–8% worse.
Bank Transfer Fees
Monzo uses Faster Payments for standard UK bank transfers:
- Free to send and receive
- Typically instant — seconds, 24/7
- Monzo applies internal per-transaction and daily limits — see Monzo transfer limit for the current figures
CHAPS transfers: Monzo does not offer CHAPS (same-day guaranteed) transfers. For large same-day payments such as property completions, you will need to use a different bank or arrange the transfer to arrive the same business day via Faster Payments.
International Transfers
International money transfers from Monzo are handled via a Wise integration built into the app. Wise’s standard conversion fee applies — confirm the current rate on wise.com, as it varies by currency pair and amount. Monzo does not add an additional charge on top of Wise’s fee.
For very large transfers, comparing Wise directly against a dedicated FX broker may yield marginally better rates, but for most amounts the Monzo/Wise integration is straightforward and competitive.
Overdraft Fees
Monzo offers arranged overdrafts to eligible customers, subject to a credit check:
- Rate: 19%, 29%, or 39% EAR — set by Monzo based on your credit profile
- No arrangement fee
- No monthly charge
- Interest is calculated daily and billed monthly
- Unarranged overdraft: Monzo does not allow transactions to push the account into unarranged overdraft — they are declined instead, avoiding unarranged overdraft penalty fees
The FCA banned fixed overdraft fees in April 2020 and required all banks to express overdraft costs as a single annual interest rate (EAR), making comparison straightforward. At 39% EAR, Monzo’s top rate is at the higher end — if you use an overdraft regularly, a bank offering a lower rate may reduce costs significantly.
Cash Deposit Fees
Monzo accepts cash deposits at Post Office branches and PayPoint locations. The fee is a flat £1 per deposit at both:
| Plan | Fee | Monthly free deposits |
|---|---|---|
| Free / Extra | £1 per deposit | None |
| Perks / Max / legacy Premium | £1 per deposit after the first 3 | 3 free per calendar month |
The overall limit is £750 per calendar month, with individual PayPoint deposits capped at £300 and Post Office deposits at £750. This makes cash deposits more expensive than traditional high-street banks (typically free at the counter). If you handle significant amounts of cash regularly — for example if you are self-employed — a high-street account may be more practical as your primary account. For the full process, see Monzo cash deposit.
Card Replacement Fee
Monzo does not charge for replacing a card that’s been stolen, expired, or subject to confirmed fraud. For main bank customers, the first 2 standard UK replacements each year are free, then £5 applies. International delivery of a replacement card carries an additional charge — check current pricing in-app, as this varies.
What Monzo Does Not Charge For
The following are included at no cost on the free account:
- Opening an account
- Monthly account maintenance
- Initial debit card
- UK/EEA ATM withdrawals up to the fee-free allowance (unlimited if Monzo is your main bank)
- Faster Payments to UK accounts (sending and receiving)
- Setting up Monzo Pots
- Direct Debits and standing orders
- Real-time spending notifications
- Instant card freeze and unfreeze
More from the Monzo UK guide: