Well, it would. I’d definitely opt–in for my bank to block DCC.
What happens in the event that you’re somewhere with no data connection? Or without your phone?
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I think with a welcome to X country it should have a DCC warning with an opt in once they’ve explained that transactions will be declined.
But as the blog post said often it’s impossible to know if it’s DCC so people may be upset that monzo didn’t decline it , so overall I think a notification explaining what to look out for and what to do next time is better.
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I haven’t had a welcome to country message in my last half dozen trips abroad. But they could definitely do this for those the app works properly for.
They seem to have started sending “Welcome to ” again.
They’ve also resumed sending summary reports when you leave the country - which is great!
In that situation, I think most customers would simply try again, in which case they’d again be asked in which currency they want to pay or withdraw. That second transaction would go through either way.
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Don’t ATMs always withdraw in the local currency?
If an ATM has a fee most common countries’ laws specify that the ATM must display what fee is charged.
You should have the choice of paying either local currency (let your bank do it) or in GBP (let them do it).
Not always the case, so if it’s not clear it’s just in local or presenting two options to choose from you could walk to another to save a few quid.
ATM must always show the rate and fees if they are providing the exchange (DCC). Nothing stopping them making it as complicated as possible to know which is best.
However as Monzo don’t add a fee and it’s using the MasterCard rate its always cheaper so just a case of locating the pay in local button on the screen.
If you are cash heavy take Starling instead though which allows £300 per day free, every day.
Monzo is £200 per 30 rolling days, before they separately charge you 3% on every withdrawal which is absolutely nuts 