Currency Idea

I travel quite often and love to use my Monzo card out and about. I still use the ‘old fashioned’ cash for the majority portion of my spending money, as it’s a guaranteed rate that I’ve purchased it at.

I’ve often thought of better ways this could be done via Monzo. We all know the rate changes -all- the time, and can vary for many different reasons.

I think it would be a great feature addition to have a fixed rate.

Customer would see a fixed rate advertised by Monzo for their desired currency, knowing they intend to use their card on vacation/business in another country.

Customer locks in their dates and agrees with a rate they’re happy with.

Whenever a customer uses the card in the country they’re in, they only get charged the rate that they have previously agreed. Maybe this is protected to a certain point or percentage if the rate changes in the favour of the customer whilst there?

I’ve never seen this anywhere else, and I may be overlooking some crucial issues as to why. What do you think?

It will almost certainly be worse than the MC rate:

Well Monzo does business in the USA so perhaps a $ account isn’t far off.

That’s all you really need, an account denominated in your chosen currency.

Until then, use Revolut.

Came here expecting to see a suggestion that Monzo start their own currency. I was disspointed :-1::laughing: :wink: