French cash

Good morning everyone,

I am living in London and I have a Monzo bank account in pounds.
I would like to send by mailbox some cash money on it and I have already done it with cheques so far but that time it is some french cash. Do you think it is possible? The money will arrive in pounds in my bank account?

Thank you in advance

Hi. Welcome.

This is not possible. You’ll need to get the Euros into Pounds and then you can go to any PayPoint retailer and pay in the cash that way.

If you have Euros in cash, the cheapest option is to keep them and spend them next time you are in the Eurozone.

If you must deposit them, you’ll need to change them to pounds and deposit them by PayPoint, but there’s a fee, and a limit.

Alternatively, open an account at a different bank.

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Yeah, I’m with @Anarchist here. When changing Euros into Sterling you’ll loose a lot of value through commission fees or poor exchange rate. When depositing into Monzo you’ll need to pay another £1 for the privilege.

My advice would be to keep the cash, if you are able to. Then either use the next time you to Europe, or exchange informally with friend/family the next time they go to Europe.

If for whatever reason you must pay it in, you need to convert into pounds first (unless you have an account with a High Street bank - I believe some allow you to pay Euros into a GBP account).

I’d defo try to find friends or family who go to Europe and wouldn’t mind some Euros, then you can swap for close to exchange rate, the closeness depending on how little of a bother it will be to them and how much they like you.

Heck, even if you sell to them for a huge discount, at least you don’t have to queue up the post office to get absolutely fleeced by 20% and then see them selling your same Euros to the person behind you in the queue for another 20% margin! :face_vomiting:

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