Sterling or Euros?

[JonathanK (Jonathan Knight)]

When presenting my card for payment in Spain more often than not I’m offered the choice of paying in Sterling or euros. Is there any difference or benefit in choosing one over the other?

Thanks

[alexs (Alex Sherwood)]

You should always choose Euros, more here

Dynamic Currency Conversion with examples - guide for travellers

Dynamic Currency Conversion, DCC - biggest enemy of any Monzonaut! Confusing screens , double negative questions , sometimes even three screen prompts to select DCC can really make it difficult for good Monzonaut to steer clear from DCC. I haven’t seen an example where ATM or POS with DCC offered better rate than Monzo (fees included). Even with planned ATM withdrawal fees, rule of thumb - Monzo is better and will be better because…

[Anarchist (Press ‘Help’ search ‘Contact us’ or email help@monzo.com or call 0800 802 1281)]

Always, always, always reject the Sterling option when using Monzo overseas. For small individual purchases,the difference might be small, but over a whole trip, you will certainly be better off choosing the local currency.

[anon44204028]

@Anarchist

Always, always, always reject the Sterling option when using Monzo overseas

would that also apply for a foreign currency such as Gibraltar Pound or Falklands Pound if they are at parity with Pound Sterling?

[Anarchist (Press ‘Help’ search ‘Contact us’ or email help@monzo.com or call 0800 802 1281)]

@anon44204028

would that also apply for a foreign currency such as Gibraltar Pound or Falklands Pound if they are at parity with Pound Sterling?

Would there be parity, if DCC was offered,?

[BethS]

There is always a benefit in choosing the local currency as you received the Mastercard exchange rate ️

[GalaxyMergirl (Allie)]

@anon44204028

would that also apply for a foreign currency such as Gibraltar Pound or Falklands Pound if they are at parity with Pound Sterling?

Interesting question, it would be interesting to see what those DCC offers look like when it’s hard for shops to justify charging more. That said, I do expect they still charge a substantial markup, so yes, probably…