Receiving USD to Monzo Account


(Sam Thomas) #1

I have a question very related to [Receiving USD in the UK]. I wish to receive USD to my Monzo card. Specifically, I want to withdraw USD from CEX.IO using the payment card option, which withdraws to a VISA/MasterCard.

Will I get charged for doing this, or will the money just be converted into GBP at the MasterCard exchange rate?

Thanks,
Sam


(Marcel Ruhf) #2

Monzo doesn’t charge conversion / transaction fees for online / PoS transactions, so other than the fee your exchange agent charges you, you should be good to go.


(Sam Thomas) #3

Thanks for your response. The thing I’m slightly concerned about is this: I’m receiving money to the card, not spending it. I assume it’s the same, but I’d like to know for sure before I proceed!


(Ben) #4

Yeah it is the same. I had a refund from an EU account and it was received with no fees, at the Mastercard exchange rate.


(Sam Thomas) #5

Excellent, thanks :slight_smile: