Excited to set up a euro account with Monzo!
As I frequently travel to Europe for work it could be useful!
Nice - do they come with their own account related details?
Looks interesting, would be good to do this in Monzo rather than Wise if it’s competitive. Wonder how you get on the early adopter list. Time was, the community would have been invited to get involved.
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Monzo apply a 0.25% fee to every transaction, might not work out better value.
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So at the moment if you converted money into Euros it will just sit there until you convert it back? You can’t spend those Euros using your card?
Not sure I see the point?
Why is it better to do it in Monzo than Wise? That is the whole bread and butter of what Wise is, getting the lowest possible price.
They’re also working toward being the back-end of bank transfers and are already this for many - Monzo moving away from this doesn’t make sense.
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Perhaps “easier” would have been a better word. One less app to deal with.
Right, but unless my maths here is wrong, Monzo’s proposition is cheaper than Wise.
The screenshot below is the Wise price. Wise also say that they use the mid market rate, so assuming the same exchange rate with the 0.25% Monzo fee on top:
Wise 1000 USD = 729.43 GBP
Monzo 1000 USD = 731.96 GBP
As someone who gets paid part of their total comp in USD, I’ll be watching this very keenly 
You may want to check again, I just checked both and including fees 1000USD is 739.37 with Monzo and 736.29 with Wise
People always just look at the exchange and forget the fees - I worked for Wise for 5 years btw…
The comparison above was USD to GBP not GBP to USD.
But I guess until you can pay in non-GBP, my figures are pointless.
I mean unless things have changed since I left a couple of years ago - they were always the best at price and transparency
I’d certainly be interested. When I go on holiday I currently use Revolut but would be happy to just use Monzo.
How do we get access to this test phase thingy?
definitely interested clearly I don’t travel enough to get the email though 
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No idea how to get invited, I do receive international payments occasionally for work into my Monzo account as well as having to travel to Europe fairly regularly so that might be why I was invited 
For the totally ignorant of us all, what exactly is the point of these over just using your card to spend abroad with no fees?
There isn’t much of a reason to do this abroad, other than maybe trying to time the rate so you get more for your money by buying a lump sum at a certain point.
Where it will be especially useful is if they attach bank details to each currency so that you can receive payments in these currencies.
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With access to US and soon EU markets this shouldn’t be an issue.
I get the receiving but then I see people who probably never really receive foreign currencies getting excited about it so I assume there’s more to it.
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