So, popped into my local Thomas Exchange Global today to use some money in my current account to change up some dollars for a trip…
Went to use my Monzo card and the chap behind the counter noticed the Hot Coral glow from my card and told me they don’t accept Monzo cards…
Tried explaining its debit and a current account, but he was having none of it…
So, ended up transferring the money to my legacy account and using that debit card
Anyone else had a similar problem? Is it a case of they may still think it’s a prepaid MasterCard or do some places who deal with currency just not like a Monzo?
That’s unacceptable. Even if it was prepaid they should still accept it. It’s functionally the same for them. You should inform that TC manager because they’re breaching their contract with MasterCard. Typical misconceptions haha
Currency exchanges are, I believe, somewhat different from “normal” merchants and could get away with refusing prepaid cards.
Also note that many currency exchanges have it in their T&C that you must show ID when buying currency by card, or collecting currency ordered online, and that the name on your payment card must match that on your ID. This would’ve been a problem in the old prepaid days where the card didn’t use to have your name on it, of course.
All of that doesn’t take away from the fact that you didn’t have a prepaid card, of course. But people working at the tills won’t usually be aware of these sort of things…
Also: I hate currency exchanges, and it’s the main reasons why I have Monzo and Starling: to get cash from an ATM when abroad.
Could you say which branch, then Monzo can send the heavies round!
Tangentially, I used to use TEG too up until the Monzoian era because their rates were very good, but now I just rock up to a country and pay directly with my Monzo card without worrying about pre-fetching cash or what the exchange rate is. I’ve always presumed that Mastercard rates are better value than foreign exchange desks?
Just checking that supposition with today’s rates:
1000 € costs £883.39 at TEG, £875.88 Mastercard rates
1000 US$ costs £748.50 at TEG, £741.99 Mastercard rates
100000 Yen costs £680.04 at TEG, £673.91 Mastercard rates
10000 Ukrainian Hryvnia costs £317.46 at TEG, £283.49 Mastercard rates
100000 Icelandic Krona costs £740.74 at TEG, £709.69 Mastercard rates
So it seems slightly cheaper not to worry about cash!
Obviously this doesn’t work if you’re going to a country which loves cash and card payments are rare.
I used it at Thomas Exchange (NOT Thomas Exchange Global), and they did the same thing the first time, however, once I told them it was a debit card, they went away and then accepted it.
I thought I’d bring some cash just for when we’re or doing day to day stuff, tips etc…
Still plan on using my card whilst I’m there for when the cash essentially runs out.
Irritating though not being able to pay with it, then transferring the money over, not a major problem, but then using a different coloured card to complete the transaction.
and US Dollars 