Can you use Monzo in Turkey?

Have a Turkish holiday planned? Before you jet off from the UK, you might want to think about how you’ll spend in Turkish lira (TRY) during your trip.

If you’re already a customer with UK digital bank Monzo, it’s good to know that it's very travel-friendly. But the big question is - does Monzo work in Turkey?

Read on for a handy guide on how Monzo works in Turkey, including whether the card supports TRY spending and if there are any fees you need to know about.

Monzo is also a trusted partner of Wise Platform. Through our integration, customers of Monzo are able to benefit from the same fast and convenient payments as Wise customers, all from within their existing app.

Learn more about Monzo

Does Monzo work in Turkey?

Yes, Monzo works in almost all countries worldwide, including Turkey. The UK-based bank prides itself on the travel-friendly features of its card.

So if you’re already a personal customer with the bank, you can access your Monzo account and spend on your Monzo card while on holiday in Turkey.

What’s more, there’s no need to tell Monzo in advance that you’ll be using your card abroad.¹

Can I use my Monzo card in Turkey?

You can spend and withdraw cash in Turkey using your Monzo card, wherever debit and credit cards are accepted. This includes stores, bars, restaurants, gas stations, malls, hotels and airports across the country. Just look out for the Mastercard logo at the checkout or ATM.

Need to withdraw cash? With your Monzo card, you can withdraw up to £200 a month from ATMs in Turkey without any Monzo fees.²

It’s always worth checking though that the ATM itself doesn’t have any usage fees, as many do overseas.

Are Turkish lira supported for spending, and how does currency conversion work?

Monzo cards can be used to spend in Turkish lira (TRY).

The currency is automatically converted from GBP whenever you spend or withdraw cash. Mastercard, the card provider, does the currency conversion.

The good news here is that Monzo uses Mastercard’s exchange rate, without adding any mark-ups or hidden charges.¹ This should mean that your holiday spending money goes further.

One important thing to remember when spending or withdrawing cash abroad using a UK debit card is to always pay or withdraw cash abroad in the local currency.

Some shops and ATMs will give you the option to pay in your home currency of GBP. However, this means that they’ll use their own exchange rate for the currency conversion. This could end up being expensive for you.

📚 Read more: How to make international payments with Monzo: A guide

Fees for using Monzo in Turkey

Unlike some banks, Monzo doesn’t charge foreign transaction fees when you spend abroad using your debit card.

It’s a little different for ATM withdrawals though. If you’re travelling in Turkey, you’ll only be able to withdraw £200 in cash a month without incurring any fees. Once you go above this limit, there’s a 3% fee to pay.²

This is unlike how Monzo works in Europe, where customers can make fee-free unlimited cash withdrawals within the EEA.

You’ll also need to watch out for ATM operator’s fees.

But aside from that, there aren’t any other fees to worry about when you use your Monzo card for travel.

Can I open a Monzo account in Turkey?

Monzo is a British bank, and it only offers its accounts to UK residents who live in the UK full-time.²

So unfortunately, this means you can’t open a Monzo account if you’ve just moved to Turkey or are planning an extended stay there.

📚 Read more: How to open a Monzo account?

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And there you have it - your handy guide to using Monzo in Turkey. It’s great that Turkish lira is supported, and that you can spend without any foreign transaction fees. All you need to do is pack your Monzo card in your travel wallet and look forward to your holiday.

It’s also good to know that you can take advantage of Monzo's partnership with Wise to send money overseas.

Also, if you need the ability to handle several currencies at once (if you’re living or working between countries, for example), the money services provider Wise can be a good fit.

With the Wise account, you can send and spend in 40+ currencies and receive money like a local in 8+ currencies, including TRY and EUR. It’s not a bank account but offers many similar features.

Sign up with Wise today 💰

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Sources used:

1. Monzo- 9 reasons travel is better with Monzo
2. Monzo - Travel

Sources last checked on date: 29-Jul-2024