Should I pay in local currency or pounds (GBP) when I use Monzo abroad?

That’s an awkward one. Buying through their UK site effectively makes Sterling the local currency. :worried:

I’m not sure the exact legalities of this, but you’ll find almost all airlines bill flights in the currency of the departure destination. You only really notice it when you’re booking two one way flights with two different airlines rather than one return.

Ryanair are incredibly crafty. You first of all see something like this:

There’s no reference on the page to say the value has been converted to GBP, just a link to find out more information. When you click the link it turns out to be an opt-out box. Here’s an example that was billed to my account and Monzo worked out to be quite a lot cheaper.

I get the feeling though that Monzo won’t be able to tell the difference between an airline booking that’s had a currency conversion applied and one that hasn’t.


I’m not sure what that is. Maybe goes to show just how long is been since I had a holiday :confounded:

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This is amazing! Do you mind sending me a DM with your Monzo email for me to look into it? So, ATMs don’t always explicitly tell us that they applied DCC, so there is a data quality issue.

Next week I’m deploying a change which tries to apply heuristics to guess accurately if the transaction went through DCC. (for example, any ATM transaction in GBP abroad)


Right now the notification is relying on ATMs telling us exactly their conversion rates, but often they don’t


I’ll Monzo you 11p for your troubles!


11¢ ! :wink:


Although I certainly wouldn’t mind 11p, since it comes out to a bit more.

That said, how on earth do you type ¢? I’m guessing it’s a special character that requires an Alt+(number) be typed in?

Oh, and

DM sent!

And one more thing:

I’m hoping that when you do this, to also include us few US customers in the implementation- that is, for US users it would be instead to check for USD ATM transactions happening outside the US.

EDIT: Since this got bumped up, I did realize that this is a bit harder from the US side because there are non-US countries that use the USD as their official currency as well. It would still catch the majority of DCC occurrences, though.

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DCC is helpful for example, if you were claiming expenses and wanted to know exactly, how much a Sandwich in Paris cost you in GBP rather than paying in Euro’s and waiting a couple of days to see the transactions.

DCC is almost always the most expensive way to pay abroad on card because its the merchant rates to convert local currency into your base currency (GBP)

Almost certainly opt to pay in the local currency (euro’s or whatever it is depending on where you are) when abroad and let mastercard apply the xchange rate.

Since this got bumped up again, I’m curious-

DId you actually end up implementing this?

Yep. That’s out already. Thousands of people are seeing that notification every day. If you test it, let me know if it works just fine!


I’m really sorry, but this is not available for US accounts right now :pensive:

Oh, that’s quite unfortunate. Is there any timeline for when US account holders (few as we are) might see this become available?