Have you ever been hit by terrible currency conversion rates? Cut off by your bank’s fraud team in remote Guatemala with no access to your money? Dropped your bank card off a bridge in Girona? Yeah, me too. Which is why I signed up to Monzo 6 years ago. Monzo is a UK online bank, which means it doesn’t have physical branches and everything is done via its app. Let me tell you more about it.

But first, do you still need to take cash on holiday? 

Honestly, not a lot. We usually have a small amount and some change which can be useful for tips, but we’ve been taking the same Euro notes on holiday for the past 3 years, and returning home with them each year because we pay for everything by card.

It’s 2026, we use Apple Pay or Google Pay every time!

Ready to join Monzo? Use my referral link for £10 when you make your first payment.

Why I switched to Monzo 

Before Monzo I tried so many different options from traditional banks, peer-to-peer currency exchange platforms, and even travellers cheques (yes, I’m that old), but they all felt like I was living in the dark ages. The apps were clunky and not at all intuitive, exchange rates were wild and there were hidden fees adding to my costs.

By contrast Monzo does everything via the app and it has been enlightening! I originally signed up for Monzo just for travel but now my partner and I both use it for our day-to-day finances too because we love it so much.

Why is Monzo so good for travel? 

Some people might be put off that there are no physical banks but the Monzo App does all of the heavy lifting and honestly, I’ve never missed a physical branch. Their customer service has always been excellent too. But when you’re travelling you need your money to be accessible and safe. Which is exactly why the Monzo card for travel abroad is my first choice. It lets me:

• Pay no foreign transaction fees when I pay by card anywhere in the world.
• Monzo uses the Mastercard exchange rates which are consistently one of the best available.
• Easy cash withdrawals abroad (limits apply but I’ve never had to go over the limit)
• I can see the exchange rates in the app, in real time.
• I get instant notifications on your phone whenever I spend (sometimes I haven’t even got the receipt before the notification comes through)
• Detailed spending reports and analysis available in the app
• Manage my budget easily within the app
• Split bills easily within the app
• Track joint spending with friends and split the running total at the end.
• I can freeze my card in seconds when I think I’ve lost it, and then immediately unfreeze it when I find it in a different pocket
• Have a digital card on my phone so that I can still use my card even if I don’t physically have it with me.
• Use saving pots within the app to save for trips or experiences.

Using the Monzo card abroad- what you need to know

Paying

Monzo cards work everywhere and you can use Apple Pay and Google Pay too. They use the Mastercard exchange rate which offers excellent rates and there are no hidden fees. Woohoo! More money for spending on fun things! 

You also get an instant notification to your phone which tells you the amount in the currency you’re using, the amount in GBP and who you paid. So you’re always on top of your budget.

The notifications also mean that if you see something come through that you don’t recognise, you can look into it immediately. Plus if you have a joint account with someone, you can see their transactions too.

Cash withdrawals

You can make free, unlimited cash withdrawals within the European Economic Union (EEU) if Monzo is your main account. Outside of the EEU it is free to withdraw up to £200 over a 30 day period, after which there is a 3% charge. 

Spending categories

Whenever you spend you are able to choose a category for that spending, things like food and drinks, transport, entertainment etc. This is really useful for seeing where your money is going so you can budget as you travel.

Bill splitting

I love how easy it is to split bills with other people, especially if they use Monzo too. If you have them saved in your phone as a contact (it needs their phone number), they will come up as someone you can request money from. You can send a request from your app and they can send the money over to you. 

You can also create a running tab in Monzo, called a ‘split’. Everything you pay that needs to be divided between you and your friends can be added to the split over the course of your trip, and then at the end it shows who owes what. I used this recently when we went on a trip to the Netherlands and we were grocery shopping as a group, it was so easy and so useful. I actually love this feature.

My real world experience using Monzo card for travel abroad

It is reliable.

I never worry that I won’t have access to my money or that my account isn’t safe and that’s something that I really value. When I’m travelling and having fun with friends or have the kids with me, the last thing I need to be worrying about is my banking.

Support via app.

I have the ability to freeze my card immediately. This was especially helpful when I lost it in Girona (and later saw it in a river because I had dropped it off a bridge), because I knew no one else could use it if they found it first.

It’s really easy to keep track of spending and our budget.

An ice cream a day really adds up when you are away for a whole month so being able to track spending in the app helps me to make sure our budget lasts the trip.

Rainy day savings.

I actually use this feature all the time to put money towards future trips. Whenever you make a purchase Monzo will round up to the nearest pound and put the extra pennies into a rainy day savings pot. This doesn’t sound like much but if you use the card as your day-to-day card, the savings add up surprisingly quickly and I don’t notice a few pence here and there.

I use savings pots to save for trips and events.

It’s so quick and simple to set up a saving pot with a savings goal and then I can add money to it whenever I want to. I have pots for everything! Christmas, birthdays, trips, you know I’ve got a pot for it. You can withdraw the money from a pot immediately so it’s set aside from your account but totally accessible.

Is Monzo safe to use abroad?

In a nutshell, yes! 

It is fully regulated by the financial conduct authority (FCA) but using the app makes it much quicker and easier to get help if you have a problem with your card or account. I’ve spent hours abroad on the phone to traditional banks waiting for a solution to my money problems, which is expensive and time consuming when you are travelling. Since using Monzo I have been able to do everything I needed on the app.

Monzo review- pros and cons for travellers

As I want this to be a balanced review I thought it would be helpful to summarise the pros and cons to using Monzo abroad:

Pros

• The app is excellent, user friendly and really intuitive
• The exchange rates are fair and there are no hidden fees
• No foreign transaction fees
• Really helpful budgeting features in the app
• Splitting bills with friends and family while travelling is really easy.

Cons

• Uses Wifi so if you don’t have internet the app won’t update
• No physical branches (some people like the comfort of knowing they can walk into a branch)
• Premium features cost extra (although I use the Monzo for travel abroad and for everyday banking and have never needed premium features.
• Limited cash withdrawal abroad so if you are going somewhere where cash is king then you might have to pay for withdrawals.

Monzo refer a friend- why it’s worth signing up

Monzo has a refer a friend scheme where if you use this link to join up we will both receive £10 when you make your first payment. It’s a win-win as we both benefit from it, so if you’re convinced that it’s the best card for travel abroad and want to join up it’s definitely worth using a referral code instead of joining up directly.

Who is Monzo best for?

Honestly I think Monzo is great for everyone but especially for:

• Frequent travellers
• Digital nomads
• Group travellers
• Anyone who is sick of paying bank fees and wild exchange rates
• Families and people who have multiple types of account (every day, business, mortgage etc)
• Anyone who wants a great banking experience without having to go into a branch

Final thoughts- is Monzo the best bank for travel?

Yes! For me Monzo is the best bank for travel. As I have already said we use it for our everyday banking now too, and even signed up our 6 year old for an account last year. 

After 6 years of using Monzo cards abroad I have never had any issues. I feel confident that my money is safe, secure and accessible. 10/10 would recommend!

So if you’re looking for a smarter way to manage your money while travelling use this link to sign up for an account. You can thank me later 😉