(Mastercard) Currency Exchange Rates


What is the current Mastercard Euro v GBP exchange rate ?
Where can I find it on a Daily Basis

(Alex Sherwood) #2

Monzo gives you the MasterCard wholesale conversion rate which you can find here.


Brilliant Alexs…how does it compare to,say ,Revolut rates?

(Alex Sherwood) #4

I’m not a Revolut user I’m afraid but there’s been some feedback on that in this topic, from this post onwards -


Thanks again alexs.Looks like Monzo has the edge ,all things considered


As the Monzo card is in Beta form I do wonder what will happen charges wise when it properly ’ Open "

(Tommy Long) #7

There won’t be any charges even when it leaves Beta. Tom (the founder) has stated that the currency rate is one of his favourite Monzo features.


Excellent news ,thanks Tommy

(Priyesh Patel) #9

As @alexs mentioned, the MasterCard website enables you to check the foreign exchange rate for a specific transaction date. It’s worth noting that when the transaction “settles” a few days later, the rate may have changed ever so slightly. We also currently absorb the MasterCard Currency Conversion Assessment Fee, so there are no fees for our customers :tada:.


Many Thanks Priyesh.
I note you say that , currently Monzo absorb Mastercards Conversion fee. Do you intend to charge customers at a later date ?
Best Regards
David Webb

Current account debit card exchange rates
What We Know About the Current Accounts & Debit Cards / FAQ :bank: :credit_card: (open Wiki)
(Naji Esiri) #11

@webbski9 Hey David, we’ve no plans to charge customers this conversion fee in future :slightly_smiling_face:

Current account debit card exchange rates
Current Accounts

Excellent news indeed … I love Monzo

(system) closed #13

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(Alex Sherwood) opened #14

(Dave) #15

Question please.
I believe the MasterCard Fx rates go to at least 4 decimal places but the transaction on the app only seem to show 2 (at least for EUR). Does Monzo give customers the full exchange rate or only the rate to 2 decimal places.
Doesn’t make a huge difference on a single transaction but if I look at my total EUR spend whilst on holiday the effect is more noticeable. For example EUR 1200 at 1.09 is £1100.92 but at 1.0944 is £1096.49. Multiply that by the number of Monzo users and that’s quite a lot of money!
By the way I still love Monzo!


Hi Naji,
How does this go along the poll about the fees abroad? Does it still applies?