Suggestion - using abroad


(lee) #1

I’ve just been abroad and the card worked fine but have a couple of suggestions…

1- because no rate is displayed I had to try and guess a conversion and how much local currency I would get. It would be really useful to have something work it out before. I had a couple of transactions decline for being pence short of what was needed and I would have chosen to withdraw less or add more (I was only adding what I needed in case it didn’t work abroad).

2- the transaction shows in GBP on the app but it would be helpful to also show the amount in local currency and the rate on the statement bit.


(Andrew Ross) #2

For point 2 it shows the cost in £ and currency. In the case below You can see the Euro rate that I paid.


(lee) #3

It doesn’t when you withdraw cash


(Miguel Afonso) #4

Yes it does. All my ATM transactions abroad show £ and local currency just like any transaction. And tapping in for details you get also the actual rate.


(lee) #5

No it doesn’t - this shows in pounds only not euro. It was the same for all transactions.


(Evan Davis) #6

It sounds like you were offered a rate in GBP on the ATM screen and accepted it. Accept the Euro rate and both currencies will show up


#7

The ATM would offer to charge your card in GBP. Ideally you should opt out and ask it to charge the card in the local currency. The rate the ATM would give you would be worse than Mondo’s (MasterCard’s). This is also the case when you are at a POS. The merchant may ask to charge you in GBP, opt out.


(lee) #8

It didn’t offer to charge me euro or gbp there was no option.

However even if I selected either why could it still not list the amount I took out and the rate.

The machine didn’t dispense in GBP so why is it telling me it did.


#9

That’s strange. If the ATM charges Mondo in GBP, then Mondo would not be able to know the rate at which the ATM gives you the local currency. Since the ATM (the bank that runs it) would receive money from Mondo in GBP and then converts it to EUR (based on their own exchange rate) and dispenses the money.

In the other case, the bank that runs the ATM would receive money in EUR from Mondo and hence the conversion takes place at Mondo’s side, and therefore would be able to show you the rate. The ATM then just dispenses the amount that it received from Mondo (EUR).

This is how I understood it, correct me if I’m wrong. :slight_smile:


(Miguel Afonso) #10

Yes the ATM must have charged Mondo in GBP, that’s the only explanation. And if that was the case then you have not benefited from the Mastercard rate that Mondo applies.

Whenever I use a card in a foreign currency country that ATM asks me if I want to be charged in Local or foreign currency.
Its usually a lot better to be charged in the local currency of the ATM or shop.

If the ATM does the conversion for you, you are not cashing EUR or USD, you are buying EUR or USD in the ATM and then it charges it for that in your own currency.