# A rather silly question on payments **URL:** \ **Category:** Monzo Chat\ **Created:** [11 July 2017 18:28 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922 "2017-07-11T18:28:32Z")\ **Posts on this page:** 9\ **Page:** 1
**Author:** ![anon69542276](https://avatars.discourse-cdn.com/v4/letter/a/eb9ed0/32.png) [@anon69542276](https://community.monzo.com/u/anon69542276)\ **Post date:** [11 July 2017 18:28 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922/1 "2017-07-11T18:28:32Z")
Hi guys. I have been using Monzo for a while now, but only for very basic stuff (paying on holiday etc). Now I would need to try something a bit different and I would like to understand how things work before trying. So, I currently have a UK current account, with approximately 7k gbp. My intention is to get all of those into euros. Tomorrow I am opening an European current account - this will of course be in euros, but might also be a multi currency one (maybe? I have no idea). I was thinking of using Monzo in order to do all this, but I am not 100% sure of how the process works. - If I do a bank transfer, does the money get converted at Monzo’s rates? - if, for whatever reason, the destination account can also hold gbp, I suppose my money will not be converted at all and there’s no way for me to do this via bank transfer? - in general, considering I’d have that much money, what’s the quickest and least painful way of getting this done? Apologies if all these sound silly, but I am really not an expert on banking transactions and stuff! Thank you all Rob ---
**Author:** ![BobT](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/bobt/32/5151_2.png) [@BobT](https://community.monzo.com/u/BobT)\ **Post date:** [11 July 2017 18:33 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922/2 "2017-07-11T18:33:24Z")
You can’t bank transfer funds from Monzo. It’s very easy (and cheap) to transfer the money from your UK current account to your euro account using TransferWise. I’ve done this myself a few times and once you set it up it’s a piece of cake 😁 ---
**Author:** ![anon69542276](https://avatars.discourse-cdn.com/v4/letter/a/eb9ed0/32.png) [@anon69542276](https://community.monzo.com/u/anon69542276)\ **Post date:** [11 July 2017 21:49 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922/3 "2017-07-11T21:49:33Z")
Thank you Bob! Will the exchange rate be as good as the one used by Monzo? (I know I could check but since you used it I trust you more than their webpage haha) ---
**Author:** ![Jas\_williams](https://avatars.discourse-cdn.com/v4/letter/j/ccd318/32.png) [@Jas\_williams](https://community.monzo.com/u/Jas_williams)\ **Post date:** [11 July 2017 21:52 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922/4 "2017-07-11T21:52:43Z")
TransferWise charge a 0.5% commission all very visible as part of the transfer usually cheaper than getting my bank to transfer at their conversion rates ---
**Author:** ![anon44204028](https://avatars.discourse-cdn.com/v4/letter/a/ed655f/32.png) [@anon44204028](https://community.monzo.com/u/anon44204028)\ **Post date:** [11 July 2017 21:57 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922/5 "2017-07-11T21:57:17Z")
It’s very easy (and cheap) to transfer the money from your UK current account to your euro account using Azimo. ---
**Author:** ![BobT](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/bobt/32/5151_2.png) [@BobT](https://community.monzo.com/u/BobT)\ **Post date:** [11 July 2017 22:04 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922/6 "2017-07-11T22:04:58Z")
I’d like to think we’ll get preferential rates on commission with TransferWise if/when they integrate with Monzo. I’ve no experience with Azimo however I bow to @anon44204028’s advice with full confidence 😁 ---
**Author:** ![anon44204028](https://avatars.discourse-cdn.com/v4/letter/a/ed655f/32.png) [@anon44204028](https://community.monzo.com/u/anon44204028)\ **Post date:** [11 July 2017 22:08 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922/7 "2017-07-11T22:08:15Z")
Personally I rather send money direct bank to bank rather than bank - third party - bank. So would prefer Monzo to do their own SEPA than use the likes of Transferwise or Azimo. But If I am going to use Transferwise etc I would just go straight to their site rather than thru a marketplace ---
**Author:** ![anon69542276](https://avatars.discourse-cdn.com/v4/letter/a/eb9ed0/32.png) [@anon69542276](https://community.monzo.com/u/anon69542276)\ **Post date:** [12 July 2017 06:13 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922/8 "2017-07-12T06:13:40Z")
Thank you all guys for the replies! I wish I could wait for Monzo to be integrated haha but I am afraid GBP will keep falling against the euro! I’ve already “lost” way too much by waiting 🙂 Thank you guys again! ---
**Author:** ![system](https://global.discourse-cdn.com/monzo/original/3X/a/e/aedf2f7852aef6ffcd99f29eac49128cfbd2ecc3.svg) [@system](https://community.monzo.com/u/system)\ **Post date:** [8 January 2018 06:13 UTC](https://community.monzo.com/t/a-rather-silly-question-on-payments/12922/9 "2018-01-08T06:13:44Z")
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