Buying Currency at Thomas Exchange Global

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 :roll_eyes:

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 :unamused::stuck_out_tongue:


Thought it was a bit naughty…

Also, if I hadn’t of had a back up account I could have been stuck.

Cash withdrawal at a cash machine wouldn’t have covered the amount.

I shall get onto their social media


I’ve experienced the exact same thing at Thomas Exchange Global! (Richmond branch)

It was a few months ago but the guy did concede after quite a lot of insisting that it wasn’t a prepaid card.

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.

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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.

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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.

If you’re in London, I’d recommend them:


It was the London Bridge branch…

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.

Hopefully it’ll get ironed out soon

Yeah, I’m going on a big trip around Europe soon and plan on using pretty much only card payments

Keep us posted!

You could have used your Monzo card in a dollar ATM in London and paid no fees as long as you refused DCC. They were doing you a favour!

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Ahh really? Hadn’t even thought of that :woman_facepalming:t5:

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Yup! No fee and no exchange spread. Just ensure you are charged in dollars not pounds… And the screens are worded to trick you!


@GalaxyMergirl do you know the locations of any USD ATM’s in London? I’ve never seen any (only Euro ones) :confused:

We also offer US dollar dispense at 2 key locations in London – Piccadilly Circus Station in the heart of Soho and Canary Wharf Station.

I used the Picadilly Circus one a while ago.


Hey @PluggedIsland,

That’s really frustrating and it shouldn’t have happened :weary:

I’ve let our merchant acceptance team know. If we need any more info, we’ll give you a shout.

Thanks for posting!


Great :crossed_fingers:t5::ok_hand:t5::+1:t5:

Canary Wharf includes a CitiBank Travel Money ATM – giving you access to Euros :euro: and US Dollars :dollar:

If I use the ATM in Lindon to withdraw Dollars will my limit be my UK daily limit of £400 or will it be treated as it would abroad with a £200 limit?

UK limit in my test.