I need to receive part of my salary from an international account for work, but I’ll still be paid in GBP. Monzo recommends using Wise to receive international payments - but the question is, will I still be charged a fee if I receive my salary in my Wise account in GBP and then transfer to Monzo? Does the fee occur because of the currency conversion or is it just a transfer fee, irrespective of currency?
This is all a bit of a faff and it’s frustrating that I have to consider fees for being paid my own money because Monzo hasn’t sorted out international payments yet…
This isn’t the ideal solution, but if I were you I’d just open a Dozens or Starling account to get paid into. Dozens is an emoney institution, Starling is a proper bank.
Both are online and can be done in a matter of minutes.
(And yes, I feel your pain: this shouldn’t really be necessary )
If you open a Wise multicurrency account and add a GBP balance then it is free to receive money into the account. You can spend directly from there with the Wise card or if you transfer out to your Monzo it looks like it’s a fixed fee of 32p so while annoying to have to perform the extra steps its not too bad overall.
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