FX Foreign Purchase Calculator

Hi,

Whilst on holiday recently I had the need for a certain feature and thought that others might have come across the same need.

Whilst out having dinner in a restaurant in spain the prices where all in Euros of course and as I was going to pay the final bill for my whole family i felt myself wondering if i would have had enough currently in my monzo account to pay after the mastercard exchange rate had been applied.

TLDR: A handy calculator within the app to check if my balance would be enough for a purchase in a foreign currency.

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Ooh, that would be useful! Cheers for the suggestion, @nathanthomson8. Itā€™s not as useful, but checking out the Mastercard exchange rate calculator online might be the next best bet. (One dayā€¦)

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Or show the account balance in the foreign currency (noting itā€™s approximate)? I think that would be hugely useful. A lot of discussion on that in a previous thread:

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Something like the one in the Luminor Bank app
Screenshot_2018-05-13-10-49-04

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I use Xe.com

Itā€™s usually bang on with the MasterCard exchange rate (like just now)

3034

So do I, but we are talking about having a tool integrated into the Monzo app. And when travelling using browser access can be a bit slow and unreliable at times

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Fair, it would be useful indeed :stuck_out_tongue:

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I still like the idea of being able in your settings to set a secondary currency and then the app could display every transaction item in two currencies (one being an approximate of course)

Thereā€™s an XE iOS app

XE Currency by XE.com Inc.

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I think there are Android and Windows ones too.

On Google Play Store search for ā€œXE Currencyā€.

Another good one is ā€œCurrency Convertor Proā€ by Julien Millau, which is regularly updated and now includes the new Dobra (STN) and Ouguiya (MRU) currencies.

You just rocked my world! I just downloaded it and it works impressively well. Iā€™d be fantastic to have such calculator (or maybe an integration) on the monzo app

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Iā€™m not sure Iā€™d use it, personally. Given that whatever rate Monzo offers on the date of purchase is liable to change on presentment, I generally use Siri to get an approximate value. Itā€™s always been close enough in my experience.

Of course, close enough for me may differ from close enough for you.

Iā€™ve just used Siri to convert 100 Euros. Itā€™s Ā£88.23 - close enough for me.

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I guess Iā€™d depend on the country youā€™re travelling to. Iā€™m sure that if you travel to the US or the Eurozone youā€™ll be fine, but Siri might not be as accurate if you travel somewhere moreā€¦ exotic :stuck_out_tongue:

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