Exchange rates for transactions made abroad


(Jamie Johnson) #1

Hi,

I have noticed that various transactions I have made in Italy have settled at various different exchange rates, however on the transaction it shows most of them to have the same exchange rate of £1 = €1.13 because the exchange rate is rounded to 2 decimal places.

Surely it wouldn’t be too labour intensive to display extra decimal places for greater exchange rate accuracy?

If displaying the exchange rate is designed to help make my budgeting easier and quicker, then it should be an accurate rate displayed. I have to do the same calculations to work out the correct exchange rate as I would have to do if no rate was displayed in the first place, so it’s useless in the grand scheme of things.


( related to Monzo CEO, Investor in Monzo ) #2

would 5 euros on a thousand pound bill make much difference to you ?


(Jamie Johnson) #3

Well if you budget to the penny like I do then yeah it does make a difference but It’s just a niggle more than anything as surely it wouldn’t hurt to have a few extra digits displayed when they are using them to provide the amount in pounds anyhow.


( related to Monzo CEO, Investor in Monzo ) #4

you cant please all the people all the time :slight_smile: there are other users that don’t like a cluttered feed - the extra digits upset them and don’t budget to the penny :slight_smile: - its a balance between the two views I suppose


(Jamie Johnson) #5

I suppose that’s true, maybe a ‘:information_source:️’ or something to provide a few more details about the transaction in a pop up window - best of both worlds