Monzo Business international transfer fees change on 1 November 2026: what is different

Monzo has published new fee information and account terms for business customers, and the part that changes most is sending money abroad. The new pricing takes effect on 1 November 2026. If your business pays overseas suppliers, freelancers or software companies by bank transfer, it is worth understanding before your next payment run.

How it works until 31 October

Until the end of October, an international transfer from a Monzo Business account costs a fixed fee of up to £9 plus 0% to 1.8% (until 31 October 2026). The exchange rate itself comes from a third party and is usually close to the mid-market rate, so most of the cost is visible as a fee.

How it works from 1 November

From 1 November 2026, Monzo sets the exchange rate itself. The fixed fee falls to under £0.80 for most currencies, up to £11 in some cases, with a margin in the exchange rate (from 1 November 2026). In other words, the visible fee shrinks, and part of the cost moves into the rate. Monzo holds a quoted rate for 30 minutes, so you can see exactly what will arrive before you confirm.

Who is better off

• Small, occasional payments are likely to cost less, because a fee of up to several pounds is replaced by one that is usually under a pound.
• Large payments need a closer look. A margin in the exchange rate scales with the amount you send, so on big transfers the total can be similar or higher. Compare the amount that will arrive, not the fee line.
• Some currencies are still routed through Wise, according to Monzo's terms, and may price differently.

What does not change

Spending on your Monzo Business card abroad still has no fee on card spending abroad. Receiving money in another currency still carries 1% conversion fee on incoming euros and other currencies, capped at £1,000. UK transfers stay free.

What to do

If you send money abroad regularly, make one test payment after 1 November and note the amount received against the mid-market rate on the day. If you move large sums or hold foreign currency, a multi-currency account can still be the cheaper tool, and we compare those options on the Monzo Business international payments page and in Monzo Business vs Revolut Business. Every other Monzo Business charge is listed on the fees page.