Can I use Monzo in Argentina and Chile

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”?

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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.

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I’m here right now, march 2023. Have used Monzo twice and received 2 refunds (around 45%) roughly 4-5 days after the transaction. I’m going to risk it for a biscuit and keep using it because my cash is running low. Wish me luck! Will report back here in the next few days.


Can confirm you will get a refund a couple of days later after using your card. I was initially charged a rate of GBP1=ARS253 but after the refund it worked out as GBP1=ARS423 (30 March).

As an FYI, at I got a rate of GBP1:ARS481 at Western Union. Clearly a much better rate but the queues can be long.

Does this work with withdrawing cash with a monzo card?

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I would also like to get a refund as I have taken money out at an ATM and hoping for a refund. Does anyone know if you can get a refund from withdrawing cash?

Do you mean the machine didn’t give you cash?

If so, the machine will realise its error and refund you automatically.

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Exactly this.

Generally within 7 days once the machine has reconciled. Sometimes quicker, but need to allow such time to lapse.

Unfortunately it seems that cash withdrawal is on the official rate. I withdrew cash almost 2 weeks ago and have not had a refund. All my card transactions have refunded me the difference in around 4 days. To get cash it is better to use western union

I believe the poster means the machine did give them cash, but they were expecting to get part of their initial ‘spend’ refunded, as this appears to be how Argentina gives tourists a preferable exchange rate.

It would appear that it’s not possible to get the tourist rate when withdrawing cash:

Hello, did you use the card at an ATM? Official and then refund? Or official ? thanks