![]() ![]() ![]() You acknowledge that exchange rates for retail and commercial transactions, and for transactions effected after regular business hours and on weekends, are different from the exchange rates for large inter-bank transactions effected during the business day, as may be reported in The Wall Street Journal or elsewhere. If we assign an exchange rate to your foreign exchange transaction, that exchange rate will be determined by us in our sole discretion based upon such factors as we determine relevant, including without limitation, market conditions, exchange rates charged by other parties, our desired rate of return, market risk, credit risk and other market, economic and business factors, and is subject to change at any time without notice. Monzo makes spending while you're abroad simple and transparent.1Exchange rates fluctuate, at times significantly, and you acknowledge and accept all risks that may result from such fluctuations. After that, we’ll charge you 3%.įind out more about travelling with Monzo and share your tips and stories on the community forum. For other countries, you can take out £200 for free every 30 days. If you want to withdraw cash from ATMs abroad, there are no fees to do so if you're withdrawing cash from an ATM in the European Economic Area (EEA). ![]() Paying with your card abroad is totally free, and we always pass on the Mastercard exchange rate. Are there any other charges for using my Monzo card abroad? It depends on the exchange rate and markups your other bank might make, so it’s worth checking what they offer. If you’re using other debit cards abroad, paying in local currency might not necessarily help you get the best rate. This means Monzo converts your money at the Mastercard exchange rate, instead of the merchant or ATM doing it at their own rates. To make sure you get the Mastercard exchange rate when you’re using Monzo, always choose to pay in local currency. When you use ATMs or pay with card machines abroad, you’ll be asked whether you want to pay in Pounds or in the local currency. Want to take the stress out of spending abroad? Try Monzo today!ĭownload Monzo Should I pay in local currency or GBP? You can check how the Mastercard rate measures up to other exchange rates by using Visa’s exchange rate calculator, a currency converter like XE or Reuters, or by giving it a Google! Read this short guide for more information about how transactions work. The rate you see is the one we pass on directly to you.īut remember, we'll use the exchange rate at the time the transaction settles (usually a few days after you make it), rather than the one you see at the time you actually make the transaction. Tap ‘Calculate’ to see the current exchange rate! ![]() Type ‘0.00%’ when you’re asked to enter the ‘Bank Fee’Īnd choose Great British Pound (GBP) as your ‘Card Currency’ Open Mastercard’s Currency Conversion CalculatorĬhoose the currency you want to convert toĮnter a ‘Transaction Amount’ (write ‘1’ if you just want to find out the rate) You can see the current exchange rates on the Mastercard website: So, we pass the Mastercard exchange rate directly onto you. We believe everyone should be able to use their debit cards to spend money abroad, without having to pay rip-off fees on each transaction. This blog post was accurate when we published it – head to or your Monzo app for the most up to date information. ![]()
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