I have a question about incoming international payments which I know at the moment are not fully supported.
if someone were to send me an international payment in foreign currency, what exchange rate would I be getting? I realise if someone in the US were to send me sterling the exchange rate would be on the sending bank. However, if someone sent me dollars where would the conversion take place?
Monzo take care of the conversion. I’m not sure where you can check the exact rate in advance but as you’d expect from Monzo the rate you are given is more or less perfect.
Example:
EDIT: I’ve done some digging and it looks like I was given the perfect rate from that precise moment in time.
Is that money you have sent to someone else or money you have received? Can Monzo accounts receive incoming USD transfers?
In my case that’s money received.
Not sure RE USD though.
