Multiple currency support

Would love to have multiple currencies in my account and be able to convert between each other.


In which case, you need a Transferwise Borderless account.


Monzo is my main account. I like to keep all my spending there. The monzo feautures and app are way better than TransferWise. Don’t like having to keep switching to TransferWise for travel.


One day, maybe, your wish will come true. I doubt it will be this year, though.

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I don’t think it’ll happen this year either. But I’m hoping that if enough users ask for it monzo will start working on it. So people, please like the original post if you want this too.

I’m curious what your use case is for holding multiple balances in different currencies? It seems like more of a hassle to me when with Monzo you can hold all money in one place and then convert it fee-free at point of use.

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Multiple reasons. First this way budgeting is a lot easier. I can set an X amount of USD for a US trip for example. Also this way you can convert currency whenever you like as opposed to whenever you pay. This can allow for converting when I know rates are good and does not depend on when I’m traveling. It’s just a lot cleaner that way. Plus never hurts to have the option; whoever doesn’t wanna do it this way can continue to use it the way it works now, such that if you try to spend using a currency you don’t have monzo will just deduct from one which you do have.


I use Revolut for its Euro account.
When I’m saving up for my holiday, I like to save in the currency I will be spending so I’m not left out of pocket if the exchange rate is rubbish when I go; and this seems to happen a lot. Any time I’m in France, the exchange rate at the time of my trip seems to be about 1.08-1.09, whereas if you watch the market, you can transfer when the rate is about 1.125 or above.

When you spend in Euros on Monzo (or Starling / Tandem / Santander Zero etc), you see the transaction with an estimate of what the exchange rate might be, then it gets adjusted to Mastercard rate a couple of days later when settlement takes place. You can tell on Santander when this takes place, because it no longer shows as a pending transaction. On the others, it isn’t very clear. The pending transactions thing has its own problems though, because it doesn’t update the card balance, only the available balance which I don’t pay much attention to, because I never run the card anywhere near its limit, only my personal limit which is a lot lower.

With Revolut, I know that I went out with eg €500, and there is €212.65 left. It is like having a holiday pot that automatically updates itself.


On Monzo it is grey until it settles with the final amount, but still affects your total balance. It never seems to change much between when the transaction is made and when it settles.

I hear what you’re saying, but I feel I would be just as likely to lose out as gain (i.e. buy at a worse rate than it ends up being when I go away). And I then have to predict what I’ll spend, as if there’s anything left over in the foreign currency, I loose out again when transferring back. But if you’ve managed to make this work, that’s great!


I’m not 100% sure unsettled foreign transactions are grey on Android.


Is Monzo planning to release currency accounts? It would be great to hold other currencies with Monzo.


At the moment? No.

Ever? Don’t know!

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As far as I know, Monzo has no plans of releasing a multi-currency account, but it would be interesting to see if they give users the option to hold both USD and GBP when they launch in the US.

When converting at the point of payment you’re reliant on the interbank rate of the day.

Holding your own account of x currency allows you to wait until the rate is better or spend from that acccount with no FX.

It’s not worth it when just spending a few hundred £ on holiday but for people that hold £10,000+ it makes a difference. A fluctuation of just pennies can cost you hundreds


I’d love to see multiple currencies too, like Revolut. I love in London but trave a lot in Italy for work and family reasons and I’d love to be able to use Monzo for everything.

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You can use Monzo in Italy with no problem. :it: there are no transaction fees for using your card abroad, and you get the Mastercard exchange rate. This way you also don’t have to guess how much money you might need – it gets converted to :euro: on demand. :boom:

Hi all, I am new in Monzo. Do you know if it is possible to convert pounds into euros (or dollars) amd whether there is any amount limit involved?

Thank you,


As in convert and keep “locally”?

If so, no

You can send to a different currency in another account (which could be yours), but that will not be a Monzo account

I think this would be a great idea if they could get it to work.