Hey everyone 
I’m Kush, a product marketer in the Business Banking team and part of the team working on the roll out of euro transfers 
We know this is something Monzo customers have been asking for and we’re really excited to be able to offer this soon.
Don’t worry if you’re reading this and haven’t got an email about it yet, the emails are on their way out and you’ll have access from Monday.
We’d love to hear what you think when you get a chance to use it 
Sure there’ll be an official post soon but thought this was vaguely the best thread for the moment. Inbound euro transfers now supported:
This is good news, I wonder in the future whether you could have a euro pot (saving exchange fees) and then using this pot when in Europe? 
I don’t have much need for this myself, but out of interest how competitive is 1% conversion fee for receiving payments in euros?
Also, I don’t see an IBAN number in the manage tab (even though I also got the email).
Edit - just noticed it says from Mon 3 April.
Looks like https://www.currencycloud.com/ , shame they don’t seem to have a public currency conversion rate checker, hopefully monzo builds one into the app.
I know the blog/announcement is focussed on receiving Euros, but now that the IBAN is being added to the app, is there now formal support for receiving GBP from anywhere in the world?
What happens if someone tries to send a currency other than GBP or EUR?
You don’t receive euro’s from how I understand it, they convert the money into GBP for you before it reaches you
Guess i’ll take a hit and test it using my revolut account, convert some money into USD and then send it in to the IBAN
It’s great to be able to do this at all, but 1% is quite hefty in this day and age when multiple competing products offer cheaper or free alternatives. It’s very easy and can be significantly cheaper to keep receiving Euros in Revolut, Starling or Wise, exchange it to GBP there and send a free Faster Payment to your Monzo.
At the very least I expected Monzo to have a fee-free allowance for Plus and Premium customers.
They can’t keep everyone happy and some people just want an all-in-one solution to the issue
“MONZO MUST DO THIS THING!!!11!!one”
Monzo does the thing
“Not how I wanted it. I wanted it for free. I’ll keep doing it elsewhere”
Not so much really. Starling charge 2%, Halifax add 3.55% as a fee for £0-10k, and only get as low as 1.5% when you’re receiving £250k+
Well done!! This is great news, and been on the to-do list for a looong time🥳
Yes, I understand. But there is a fee for that conversion and I was curious how competitive it is compared to other banks. From @Chris_R post it seems quite competitive when compared to Starling and Halifax.
I’m no expert - I had to look the other month for a payment. I think Wise may be cheaper, but I wanted it to go to a traditional bank account.
Yeah, I’m sure there are cheaper routes, but I’m specifically interested in what actual banks are charging.
Halifax, Lloyds and Bank of Scotland all have the same charging structure. If someone wants to check others to compare that would be interesting to me too 
I had thought it was lower but you’re right its 2%. I guess you would use the Euro account if frequent
cf. “Would someone please compare all the high street banks’ fees and conversion rates, and let everyone here know which is competitive, because I can’t be bothered.”
1% seems very expensive to me when compared to transferring the EUR to a free HSBC Currency Account and then converting it to GBP via a Global Money Account.
Eventually, using the Currency Account won’t be necessary, once HSBC allow the Global Money account to accept EUR directly - which is on their roadmap.
The HSBC Global Money Account charges around the same as Revolut or Wise.
