We are tgravelling to Argentina and Chile in March. The Argentine Govt have recentky changed their policy to allow non-Argentine registered credt; debit and Pre-paid cards to enjoy an exchange rate similar to the ‘blue market/cash rate’.
Does Monzo qualify for this, so we can use our card when oput and about?
Whatever Mastercard’s agreed exchange rate is, that is what will be passed on to you.
Assuming this link is updated with the latest rates you could try this, in the bank fee enter 0% as Monzo don’t charge for you to use your card abroad:
What’s the “blue market”?
Please let us know how you get on. We’re going later in the year and would just like to take out some ATM cash on arrival as most restaurants in the cities will take card payments
Confirmed Monzo works at the higher MEP rate (blue dollar) with a refund process. It actually turned out to be a bit higher!
22/2/2023 Paid 1990 ARS at 8.60 GBP (231 ARS per GBP)
25/2/2023 Refunded 3.6 GBP, resulting in final rate of 398 ARS per GBP.
For comparison, I exchanged dollars in person here (Patagonia) at a rate of 345 ARS per USD (also offered 360 ARS per USD). Which would mean ~300 ARS per GBP.