Right something I have been wondering about and cant get an answer.
If I deposit £100 onto my Monzo card. Then, when in spain go to an ATM how does the transaction function?
Will the ATM display the £100 in Euros using the Mastercard rate at present? Or the Banks own??
Because the rate is dynamic, what if on day 1 £100 would get me €111 if the rate is 1.11? What happens if when the transaction is finalised the rate has changed to 1.09? Because the card is prepaid it cant take any more than what is on it?
Or when using an ATM is that transaction finalised there and then? and it is only dynamic if using the card at a merchant?