In case anyone else is wondering, this is correct.
I know that Revolut have partnered with CurrencyCloud & it looks like their Conversion Cloud product, enables the conversion of “30 currencies at wholesale rates” in “real-time”.
On the other hand Monzo offer the MasterCard wholesale rate & they determine the FX rate when a transaction settles, usually a few days after the purchase is made. As a result, the conversion rate fluctuates.
But the feedback in this post (& the subsequent replies) is that the difference between the two provider’s rates is usually marginal. Sometimes Revolut offer the better rate & sometimes it’s Monzo.
Money Saving Expert says that Monzo’s rates are better too…
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