Does Monzo Charge for Currency Exchange on Weekends?
Does Monzo Charge for Currency Exchange on Weekends?
If you are packing for a trip and only have a Monzo card in your wallet, one question matters more than airport lounge access or travel insurance: does Monzo charge for currency exchange on weekends? The short answer is yes, Monzo applies a small weekend markup on foreign currency transactions and cash withdrawals made outside the UK between Friday 23:59 and Sunday 23:59 UK time. The markup is 1% for most major currencies and 2% for a smaller list of less traded currencies. During the week, Monzo uses the Mastercard exchange rate with no added fee.
This guide explains exactly how Monzo’s weekend exchange rate works, which currencies are affected, how it compares to Revolut and Wise, and what you can do to keep your holiday spending costs down.
How Monzo’s Currency Exchange Works on Weekends
Monzo converts foreign transactions using the Mastercard exchange rate. Mastercard updates its rates once every business day. When markets close on Friday evening, the rate stays frozen until Monday morning. Because currency values can move over the weekend, Monzo adds a temporary markup to protect itself against exchange rate swings.
The markup is applied at the point of authorisation. If you buy a coffee in Paris at 09:00 on a Saturday, the 1% markup is included in the sterling amount you see in your Monzo feed immediately. If you make the same purchase at 09:00 on Monday, the markup disappears and you pay the fresh weekday rate.
It is important to understand that this is not a hidden fee. Monzo shows the exchange rate used, the markup amount, and the final sterling cost in the transaction details inside the app.
Currencies affected by the 1% weekend markup
The 1% markup covers the currencies most UK travellers spend in. This includes the euro, US dollar, Australian dollar, Canadian dollar, Swiss franc, Danish krone, Hong Kong dollar, Japanese yen, New Zealand dollar, Norwegian krone, Polish zloty, Swedish krona, Singapore dollar, and Thai baht.
Currencies affected by the 2% weekend markup
A smaller group of currencies carry a 2% weekend markup because they are traded less frequently or have more volatile pricing. Examples include the Czech koruna, Hungarian forint, Mexican peso, South African rand, Turkish lira, and UAE dirham. The exact list can change, so it is worth checking Monzo’s help centre before you travel.
Monzo Weekend Fees for Card Spending vs ATM Withdrawals
Monzo treats card purchases and cash machine withdrawals differently. Both can attract the weekend markup, but ATM withdrawals also have their own daily and monthly limits.
| Transaction type | Weekday cost | Weekend cost | Notes |
|---|---|---|---|
| Card purchase abroad | Mastercard rate, no markup | Mastercard rate + 1% or 2% markup | Shown instantly in the app |
| ATM withdrawal abroad (within limit) | Mastercard rate, no markup | Mastercard rate + 1% or 2% markup | £200 free every 30 days for Monzo Standard |
| ATM withdrawal abroad (over limit) | Mastercard rate + 3% | Mastercard rate + 3% + weekend markup | The 3% charge applies after the £200 rolling limit |
| Online purchase in foreign currency | Mastercard rate, no markup | Mastercard rate + 1% or 2% markup | Includes subscriptions and app stores |
Free ATM withdrawal allowance
With a Monzo Standard account, you can withdraw up to £200 in cash abroad every 30 days without any ATM fee from Monzo. After that, Monzo charges 3% on each withdrawal. Monzo Plus and Monzo Premium customers get a higher £400 allowance. The weekend markup is applied on top of any ATM fee if you withdraw at the weekend.
Monzo vs Revolut vs Wise: Weekend Currency Exchange Compared
Monzo is not the only app that adjusts rates at the weekend. Revolut and Wise handle weekends differently, and the difference can be worth a few pounds on a short trip or much more on a longer holiday.
| Provider | Weekend charge | Weekday rate source | ATM limits | Best for |
|---|---|---|---|---|
| Monzo | 1% for major currencies, 2% for others | Mastercard exchange rate | £200 free per 30 days, then 3% | Everyday holiday spending, instant notifications, UK current account |
| Revolut | 0.5% to 2% markup depending on plan and currency | Interbank exchange rate | £200–£2,000 free per month depending on plan | Frequent travellers, currency holding, larger cash withdrawals |
| Wise | Small variable markup at all times, including weekends | Mid-market rate | Two free withdrawals up to £200/month, then small fee per withdrawal | Sending money abroad, transparent fees, holding multiple balances |
When Monzo wins
Monzo is the simplest choice if you want a full UK current account, instant spending notifications, and easy saving pots. For a typical European weekend break spent mostly on card, the 1% markup is unlikely to be the deciding factor. You also get FSCS protection on balances up to £85,000 because Monzo is a fully licensed UK bank.
When Revolut wins
Revolut uses the interbank rate on weekdays and lets you hold foreign currency in your account before you travel. If you exchange money on a weekday and spend it at the weekend, you can sometimes avoid the weekend markup entirely. Revolut also offers larger free ATM allowances on its paid plans. You can open a Revolut account here.
When Wise wins
Wise is built for transparency. Its fees are the same at the weekend as during the week, so there are no surprise markups. The Wise card is ideal if you regularly send money abroad or need a multi-currency account for freelance income. Get a Wise card if you want predictable pricing every day of the week.
Pros and Cons of Using Monzo Abroad at the Weekend
Pros
- No weekday markup: Monday to Friday spending uses the Mastercard rate with no added fee.
- Clear pricing: The app shows exactly how much the weekend markup costs in pounds and pence.
- FSCS protection: Monzo is a licensed UK bank, so eligible deposits are protected up to £85,000.
- Instant freezing: If you lose your card abroad, you can freeze it in seconds from the app.
- Easy budgeting: Spending notifications and savings pots help you track your holiday budget.
Cons
- Weekend markup: A 1% or 2% surcharge applies from Friday night to Sunday night.
- ATM limits: The £200 free cash allowance every 30 days can be tight on longer trips.
- No weekend currency holding: Unlike Revolut, you cannot pre-buy currency on a weekday to avoid weekend rates.
- No airport lounge access: Monzo Premium offers extras, but lounge access is not included as standard.
- Exchange rate source: The Mastercard rate is slightly different from the interbank or mid-market rate, so direct comparisons need care.
How to Avoid or Reduce Monzo Weekend Exchange Fees
You cannot remove the weekend markup completely with a Monzo Standard account, but you can minimise it.
- Spend on card, not cash: Card purchases only attract the weekend markup. ATM withdrawals over your limit attract an extra 3% charge.
- Withdraw cash on weekdays if possible: If you need cash, try to use an ATM on Monday morning rather than Saturday afternoon.
- Combine Monzo with another card: Carry a Revolut card or Wise card for weekend spending, and use Monzo during the week.
- Pay in local currency: When a retailer offers to charge you in pounds, refuse. Dynamic currency conversion usually gives a worse rate than Monzo’s Mastercard rate plus markup.
- Plan large purchases for weekdays: If you are booking a hotel, car hire, or excursion, doing it on a Tuesday rather than a Sunday can shave off the 1% surcharge.
Frequently Asked Questions
Does Monzo charge extra for currency exchange on Saturday and Sunday?
Yes. Monzo adds a 1% markup on most major currencies and a 2% markup on a smaller list of exotic currencies from Friday 23:59 to Sunday 23:59 UK time.
Is the Monzo weekend fee the same as the ATM fee?
No. The weekend markup is a separate charge based on the exchange rate. ATM withdrawals over the £200 rolling limit also attract a 3% cash withdrawal fee on top.
Does Monzo charge for online purchases in foreign currency at the weekend?
Yes. Any transaction charged in a foreign currency, including online subscriptions, app stores, or hotel bookings, is subject to the same weekend markup.
Is Monzo cheaper than Revolut on weekends?
It depends on the currency and your Revolut plan. Revolut typically charges a 0.5% to 2% weekend markup depending on the currency. If you hold a currency balance in Revolut, you may avoid the markup entirely. Monzo’s 1% major-currency markup is competitive for casual travellers.
Does Monzo tell you the exchange rate before you pay?
Monzo does not show the live exchange rate before you authorise a payment, but the transaction details in the feed show the rate used, the markup if any, and the final sterling amount immediately after the purchase.
Is Monzo safe to use abroad?
Yes. Monzo is a fully regulated UK bank with FSCS protection. You can freeze your card instantly if it is lost or stolen, and Monzo’s fraud team monitors unusual transactions.
Bottom Line
Monzo does charge for currency exchange on weekends, but the cost is modest: 1% for most popular holiday currencies and 2% for a handful of others. For weekday spending, Monzo uses the Mastercard exchange rate with no extra fee. If your trip is mostly card-based, the weekend markup is a small price for the convenience of a full UK current account. If you want to avoid weekend markups altogether, combining Monzo with a multi-currency card like Revolut or Wise can save you money, especially on longer breaks or larger purchases.
This article was written by Sam Howorth and last reviewed on 1 August 2026. Exchange rates, fees, and limits change regularly, so always confirm the latest terms with the provider before travelling.
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