Monzo adds fees for ATM withdrawals and lost cards

As part of its efforts to cut costs, Monzo has added two new fees for customers taking out cash and getting replacement cards.

Monzo customers will be charged 3% fee if they withdraw more than £250 cash in 30 days in the UK and EEA. And there will also be a £5 charge for card replacements – though it’ll still be free to get a new card if yours expires or is stolen, or if you’ve been a victim of fraud.

Monzo says that around 20% of customers will be affected by the new charges.