Can You Use Monzo Abroad?

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If you love to travel then you know how much of a nightmare it can be shopping abroad with a debit card, the last thing anyone wants to see when they get home from travelling the world is some massive foreign exchange fees littered all over your next bank statement. 

Can You Use Monzo Abroad

These large added fees happen whenever you travel with a standard debit card and use it for all your purchases abroad.

Although these fees may seem small one-offs at the time, they will add up over the weeks or months you spend abroad.    

For those of us who travel a lot, these payments really can take a toll on the trip and mean that we may have to limit some of the fun activities we had planned due to these charges. 

After a few bank statements, it can leave you wanting to find a card with no foreign exchange fee.

But are there actually any out there? If there is, then you can continue to travel the world without the pain of the bank taking half of your account in costs, and instead, you can use that money to travel even more.

When you find yourself in a scenario like this a Monzo travel card comes in hand the bright coral-coloured card can come to save your summer trip. Monzo’s travel card comes without the pesky 3% foreign exchange fees to pay.

This card is great for whether you are shopping in Albert Heijn in the centre of Amsterdam or just the local Tesco around the corner. 

The Monzo travel card is one of the best prepaid travel cards available and is ideal for those year roundly trips. But what is so special about it?

What Is A Monzo Travel Card?

Monzo is a new style of a bank that is rising at the moment, an app-only bank that was initially only used as a prepaid travel card or prepaid money card provider which could be topped up via an app. 

The prepaid travel card has now been integrated into the Monzo current account.

Monzo currently is only available to United Kingdom residents but the company does have plans to expand to other countries eventually. 

How Can I Get A Monzo Card? 

UK residents aged 16 and over can apply for a Monzo account by downloading the app and signing up, the app is available on both the Apple App Store and the Google Play Store. 

To register for a Monzo account simply download the app, scan your ID using your phone’s camera, and then make an introduction video, the video is simply to verify that you are a real human being.

Then just wait for your account to be approved. 

Once your account is activated you will be sent your card through the post. Monzo designed the app for easy customer application, it has a simple user-friendly interface with easy functionality that anyone will be able to use. 

Monzo is considered the bank of the future and is the perfect traveling companion and if you refer a friend then Monzo will give you and the person referred a reward.

The prepaid travel cards are perfect if you wish to keep track of your spending whilst traveling. 

Why Use The Monzo Card Abroad 

There are many benefits that you can expect when using your Monzo card abroad, here are some of the perks you can enjoy abroad.

0% Foreign Exchange Fee 

The main draw to using a Monzo card abroad is that you will not have to pay those annoying 3% bank foreign exchange fees that most banks will charge you.

Those fees add up over time and will eat into the money you have saved for your travels. 

No Need To Notify The Bank

Most banks require you to notify them before traveling. Monzo has no need for this and you are able to use your card abroad without letting them know beforehand, there are no charges for making online payments in a foreign currency. 

You can also use the cards for any international subscriptions that can be paid for in any international currency. Usually, these may incur an extra charge so you will be saving a small amount that will add up over time.

Can You Use Monzo Abroad (1)

Instant Freeze If The Card Is Lost

If you have ever lost your bank card you know the spine-chilling feeling of realization, double that feeling if you are traveling abroad during the time you lose the said card.

You have to call your bank and fear someone is spending all of your money before you can convince them to cancel your card.

With Monzo these feelings are a thing of the past, of course, they cannot find your card for you but with the ‘freeze’ option available in the app allows you to freeze your card immediately.

If you find said card before needing to send for a new one, (there is also an easy option on the app for this!) then there is the option to ‘defrost’ it and carry on as if it never happened. 

Monzo Welcomes You

When you arrive in a new country you will get a nice welcome screen. This will give you information about the destination you have arrived at, and info such as the current exchange rate and any fees for the destination will show up.

Easily Track Spending 

If you like to keep an eye on your money whether you are at home or abroad, Monzo makes it easy by sending an instant notification whenever you make a transaction, so no more waiting days for transactions to clear.

You can also see a summary of your spending broken into categories, such as food, transport, bills, etc. 

Final Thoughts

So is Monzo the best card for traveling abroad? Yes, paying no exchange fees on top of all the other perks that Monzo has to offer makes this relative newcomer to the banking world the go-to choice for any keen travelers.

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About Emma Healey

Emma is a recognised family finance and budgeting expert and founder of Mum's Money. Her advice has been featured in Readers Digest, Yahoo Finance, Lifehacker, The Simple Dollar, MSN Money and more.