Current exchange rates


(Tomé Gouveia) #1

As a non-british person, I often use Monzo outside of the UK. Would be cool to be able to check the current exchange rates somewhere in the app before making a payment!


#2

Bom dia @tomegouveia, how about bookmarking this link for now?
https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html

@alexs What’s Monzo’s bank fee %?


(Change Works) #3

0% I’m sure I read somewhere in the forum.


(Tomé Gouveia) #4

Bom dia @ron! Bookmarking the link is cool, but having it as part of the app would be cooler, and can’t be too difficult…


(Ian Lyon) #5

Correct! We don’t charge anything for card purchases so the bank fee should always be set to 0% using that calculator :+1:

@tomegouveia that’s an interesting idea! At the moment you should get a notification when you arrive in another country to let you know what the exchange rate is, but I totally understand where you’re coming from in wanting it more present in the app. I’ll pass that on to the product team!


(Tomé Gouveia) #6

@ianlyon Thanks!! I know we get the notification when arriving to another country, but since the rates change, and we often have the possibility of being charged in whatever currency or in GBP it would be cool to be able to check on the spot what’s the better rate. I tend to charge in whatever currency, so that the conversion is done “in the UK” , i.e. with MasterCard’s exchange rate.


(Ian Lyon) #7

Yeah, that makes sense! That’s really great feedback so thanks for letting us know!

I’ve shared that with the team :muscle:


(Change Works) #8

The better rate is always to be charged in the local currency.