How are you checking? Are you checking by converting the GBP amount BACK into EUR and then working out the rate there? Or from EUR back into GBP?
There are a lot of things that can impact it, based on when the transaction is finalised etc. Monzo do give you the Mastercard rate, it just might not be the rate at the time of purchase, and when it settles instead.
The Monzo transaction and a couple of the Chase transactions have now settled at the rate they had when pending, so 1.168, which is a far cry from the 1.18 that Mastercard had at the time of the transactions.
Right now the MC rate is 1.184 and the cards are giving me 1.179.
Is there supposed to be a delay or a discrepancy like that? And shouldn’t Monzo be clear and up front about it?
The current wording essentially implies we get the MC rate as is at the time of transaction.
Yes, everyone has different rates depending on the transaction direction.
The difference between the two is called spread.
Also pending transaction rates are just an estimate indication. When transaction settles it can update, so best to compare transactions that are similar in nature, in terms of authorization and settlement timings.