Mastercard Exchange Rate

I use my card a lot for international charges and use the MasterCard exchange portal to check the rate I will get on big purchases. However the MC website is not phone or iPad friendly surely this functionality could be added to the phone app to provide a quicker and easier interface.


It’s somewhat irrelevant because if you check beforehand, then make a purchase, the exchange rate will have been wrong because it exchanges several days later when the transaction is fully processed.

And for afterwards, it shows you on the transaction info what the exchange rate was.


Sometimes it’s nice to have a feel for the exchange rate, though.

Done in an elegant way it would be a nice addition to the app. Good idea, @willger!


I have to agree with @TTJJ, whilst it would be nice idea to have it in the app, it wouldn’t really be an accurate reflection of costs and could cause friction and complaints when it settles differently. “I saw it was $1.23 to the £ and you charged me $1.24!”

But surely if its in the app, it could have an advisory comment with it stating that its the current mastercard rate, however the transaction settlement figure may change, then no complaints


I agree but that would require people to read things. Some people don’t even if it’s bright orange and size 2000 font.
Edit: just seen this thread


Do not have the exact screenshots to hand right now, but when I was in Spain earlier in the week there were some pages (and transaction pages) providing the rough exchange rate both currently and until settlement

So it might be technically possible, but I cannot see it being much of a priority for being added to the app

When we arrive in a new country, Monzo sends an alert saying “$10 is around £7”. How about keeping a daily updated version of that inside the app while we’re in that country?


Currently on holiday in Asia for 3 weeks. I’m travelling around. Most places are cash only, but where I can use Monzo I am.
What would be more useful to me instead of a daily rate notification would be a notification saying your transaction at 7/11 for a cheese toastie settled at x.xx (disclaimer I wouldn’t expect it to tell me the transaction was for a cheese toastie but they are great and only 60pence)

Yep. I’d like that, too. It would also be nice for petrol pre authorisations.

I realised something the other day when the £ to was high, so I decided I want to purchase something in , so I went to mastercard site to check the rates however I couldn’t choose for the same day it was only for the previous day and then it says that they don’t update to the current rates until 2pm, but that was 7pm UK

but checking the exchange rate on the same day on the MasterCard site is pointless because the rate will be inaccurate until the transaction is settled by which point you’ll see the correct rate in the Monzo app in the transaction info.

You’d be better off just using Google to give yourself a rough idea of what the exchange rate is.


Two questions: Do Monzo and Revolut offer the same foreign exchange rate on payments & cash withdrawals abroad.


When paying by card abroad, is the exchange rate different over weekends or is that purely for cash withdrawals?

(This question is for both Monzo & free revolut accounts)

Revolut charge a spread fee, Monzo don’t, it’s the actual MasterCard rate. So Monzo works out better


And the extra exchange rate for the weekends is for cash withdrawals only, or cash and card payments abroad?

Thank you

Monzo have nothing extra at weekends on card or ATM

Revolut have a higher spread at weekends so people have reported it being a much worse rate (ATM and card)


Could you please explain this more?

Not really because the exchange rate will not settle for a few days, Google only tells you the rate today. The exchange rate in app is also inaccurate for a few days too. Per disclaimer.

My understanding is that all currency markets have worse exchange rates over weekend MasterCard included to hedge against currency fluctuations as markets are closed over weekends.

@Rat_au_van do ATM exchange rates settle immediately or do they settle in a few days too?

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This should help explain it

As for the ATM, I’m not sure tbh, I’ve never withdrawn money abroad

The Mastercard rate is generally worth more foreign currency to the Interbank rate.

For example, right now, on a £100 to USD comparison.

Above is the Mastercard rate.

Below is the Interbank rate:



I think your example illustrates that the mastercard rate is worse. To spend £100 would cost more on the mastercard rate than the interbank rate.

Would you rather pay $120.76 or $121.04?

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