Foreign Exchange Rate and Balance When In Other Countries

(Alex Sherwood) #24

Thanks, I see what you’re looking for now. I’ve moved your post here, as Hugo’s commented on the idea earlier in the topic.

Since this was proposed a while ago, it looks like Monzo decided that displaying the conversion rate in the ‘Welcome to x’ notification was the best approach. But maybe they’re planning to develop this further in the future…

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(Bob) #25

I would love to see the card limits in local currency when abroad. Occasionally I’ve found myself wanting to withdraw my full £250 daily limit, but working that out in local currency can be a pain.

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(Ben S) #26

It could be an idea to have your balance shown in the local currency when you know it’s abroard.

Example, I’m currently in a taxi and I need to know if I have enough on the card or need to top up.

I understand this changes constantly but an average or expected amount could be calculated.

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(James Dunford) #27

100% behind this. Even just having the option to view it somewhere in the app would be great. Super keen to be able to hold different currencies rather than have to always work at the exchange rate.

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(Alex Sherwood) #28

That would be handy :slight_smile: there’s some more details about Monzo’s plans for this here -

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(Marta) #29

I don’t think that’s what @jammed had in mind. I understood it more as having currency calculator or simply showing estimated balance in foreign currency.

If Monzo’s balance is £101, show smaller version “that’s about $XXX for ya”. Even if conversion rate is slightly outdated, it would help me “see” how much money I have. I initially suggested calculator thing, but @jammed’s idea is probably more useful for daily use.

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(i know the first 3 numbers) #30

I use monzo when i’m abroad and instead of having to google the exchange rate each time it would be helpful to have it in the app by swiping the balance to see how much we have in different currencies.

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(Heather) #31

This would be great!

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(Eoin ) #32

I have been travelling and trying to work out my balance in local currency is a pain. If I could change to see my balance in local currency I could see more
Clearly how much I have and what I can spend.

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(Alex Sherwood) #33

I’ve moved your post here, as it follows on nicely from some of the ideas that users have shared in this topic. I hope that’s ok :slight_smile:

It’d be great to hear your thoughts!

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#34

For me knowing an exchange rate is irrelevant, what I would need to know is my approximate available balance in the local currency

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(Dave) #35

This would be great. I personally would like to see an estimate of how much my balance is worth in local currency when travelling. I think a visual along these lines would work well although I don’t need to see how much I’ve spent in local currency.

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(Richard Locke) #36

+1… I’m travelling with my Monzo card for the first time and I can see how being able to see the account balance estimated in the local currency based on the current MasterCard rate would be useful. I’d love to see this in a future update of the app.

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(MikeF) #37

I think app development is focussed on the current account now so if this were to happen, it probably wouldn’t be applied to the prepaid card. I’m sure that would have some value but with the elimination of top ups etc, I think the use would be a little different.

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(Ken inder) #38

I just landed abroad and got a text telling me the exchange rate of foreign to GBP.
And in the app I can see the foreign to gbp. But I can’t see anyway just just flip this so I can see how much foreign currency I can get for a pound.
Super easy one to add I hope.

Cheers

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(Marta) #39

Hi @Keninder :wave:. I moved your post here, where you can find other discussions about similar ideas. Probably most notable, a post from Hugo with the example how it might look. Press arrow in right corner below to load full post with designs.

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(Alex J) #40

Is there potential to add a feature that changes what currency you can view your Monzo balance in. Perhaps based on location or as a drop down feature.

A.

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(Kevyn) #41

Your currency is in GBP (£) so it shows you your currency in GBP (£). Are you thinking of an exchange rate calculator of some sort to see what it could potentially be when the card is used abroad?

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(Alex J) #42

Yeah essentially. Using location services monzo could ask if you wanted your balance displayed in the currency of that particular country (at the exchange rate), or as a close estimate.

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(If there's the wrong end of a stick, you'll find me holding it.) #43

I think it’s a good idea. There would presumably need to be an accompanying warning that the amount shown is indicative only.

If the app showed €100 in your account and you bought an item for €100, you’d probably have an overdraft when the transaction was finalised.

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