How does Monzo compare with Barclaycard and Halifax Clarity

Monzo Chat Travelling with Monzo
1

Hi

Does anyone have a comparison for the exchange rate between Monzo, Barclaycard and Halifax Clarity?

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Itā€™s not the banks exchange rate itā€™s Visa (for Barclaycard) and MasterCard for Halifax and Monzo. You can check these online for whatever currency you need, but MasterCard generally ends up cheaper.

Halifax Clarity and Monzo will have the exact same exchange rate.

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Yes.

Google.

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I found this worthwhile reading for a comparison:

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Itā€™s not funny and doesnā€™t contribute anything. Thereā€™s no need to act like that. The OP clearly didnā€™t know that rates were set by the payment network and not by the card issuers. They couldā€™ve gone to google or they couldā€™ve posted here, it makes no difference.

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Heh. Wasnā€™t supposed to be funny per seā€¦ and yes they couldā€™ve gone to google which wouldā€™ve got them the answer with a little leg work, or they can post here and get others to do it for them.

So, a little bit of a difference, no? Which is kinda my point, feed a manā€¦ versus teach a man to fish etc etc (just in a slightly short form)

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The benefit of the Barclays on a fee free card is that cash withdrawals donā€™t start accuring extra interest straight away like the Halifax card so you have until the due date to pay back , but with Halifax clarity you have to pay before 12am and pay back for that cash withdrawal or there is a bit of interest. (Barclays has a cash limit iirc , but Halifax doesnā€™t.)

Cash limits are the only difference with monzo , so if you arenā€™t going to a cash heavy country then you wonā€™t notice a difference besides thing like travel reports, shared tabs etc that monzo offer :slight_smile:

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thanks for the helpful comments. In essence itā€™s as good as the Halifax clarity card in regards to the rate you get (and no fees charged). Thats what I was hoping for. Cheers

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I chose here to engage with the ā€˜communityā€™. but hey, thereā€™s always oneā€¦ :man_shrugging:

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I think there are plenty of people/topics that this theory would apply toā€¦ But for banking specifics which are outside of the realms of ā€œnormalā€, I think itā€™s perfectly reasonable for a new user to post the question to a welcoming community forumā€¦

I certainly had no idea about what was what before I joined (I still donā€™t to be fairā€¦), and this is something that is related to Monzo at least (plus, people arenā€™t doing the leg work, because itā€™s common knowledge and easily repeatable).

@natgates, youā€™ve already got your answer, but here is the MasterCard website where you can check past exchange rates - Discover our Mastercard Currency Converter Calculator

Itā€™s also worth bearing in mind that the rate doesnā€™t ā€œsettleā€ for a few days after your purchase.

So if you buy something on Monday with your Monzo card (in Spain for example), it will take the funds out of your account at the time (call it ā‚¬50), but by Wednesday/Thursday, itā€™ll update with the settled figure (itā€™s likely to be pennies differentā€¦ in your favour or not) - It all depends on the exchange rate at the time.

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Genuinely glad you got answers to your question.

Iā€™ll leave the ā€œengage with the ā€˜communityā€™ā€ alone I think, but welcome to it, itā€™s a wonderful place to get involved.

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Thank you