This is not a complain or anything, just curiosity question. I know that our exchange rate, when using Monzo abroad, will take some time to settle.
My question is - is it always a fixed amount of time or does it vary? I always input my transactions to my financial system and then I correct it when the exchange rate settles. However if the settling always takes 24, 48, or 72 hours I could make sure I do it after that time.
I would appreciate a bit more background of how it works. Thank you
From what I understand it doesn’t settle until the merchant supplies the presentment and collects their funds, majority of merchants do this within 2 or 3 days, but it can sometimes be longer.
quite a long read but maybe interest you ?
in the comments at the end of the article Richard says this -
“A transaction normally settles a few days after the original authorisation, during which time the exchange rate can change. This is why Monzo shows the exchange rate as pending. 
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