Receiving Euros in the Euro account is free and converting it to GBP is 0.4%, which is what one would use rather than receive the Euros directly into the GBP account.
I’m sorry for productively pointing out a negative aspect of the implementation of this otherwise useful feature.
I will try to just praise Monzo for everything they do in the future without question or negativity.
I don’t think I’d be using this as all my purchases just go on my credit card as it’s a cheap rate. Monzo will probably be adding fees galore so would be pointless converting etc.
Arr. well depositing costs money too at a pay point. I suppose if it’s a transfer thing why bother…onto should just catch up with starling and have a euro account so people can keep their holiday money in a euro account.
I would like to test this feature but as of today - 3rd April - still no sign of my IBAN on my card details.
I know it is possible to use an IBAN calculator ( Wise have one on their site ) but I would prefer to see it confirmed on the Monzo App.
When will it be available?